BH Assurance Reports 14.2% Increase in Global Revenue
As of September 30, 2024, BH Assurance's global revenue stood at 148.6 billion dinars, up from 130.2 billion dinars on September 30, 2023, representing a 14.2% increase.
Non-Life Insurance Segment Sees 9% Growth
The non-life insurance segment reported revenue of 84.5 billion dinars, compared to 77.4 billion dinars in September 2023, marking a 9% growth.
Life Insurance Segment Experiences 22% Increase
The life insurance segment saw a significant 22% increase in revenue, rising from 52.8 billion dinars to 64.1 billion dinars.
Ceded Premiums Up 9%
Ceded premiums recorded a 9% increase, primarily driven by the growth in revenue.
Claims Expenses Rise 51%
Claims expenses totaled 101.7 million dinars, up from 67.4 million dinars on September 30, 2023, representing a 51% increase. This surge is attributed to two major "fire" claims, which were heavily reinsured, as well as life capitalization contracts that reached maturity.
Investment Products See 13% Growth
Investment products reported a 13% increase compared to the same period in 2023.
