Hayett Insurance Company Convenes Ordinary General Meeting of Shareholders
Hayett, a life insurance and capitalization company, has convened an ordinary general meeting of its shareholders for April 21, 2025, to deliberate on the 2024 financial statements. As a subsidiary of Amen Bank Group, which holds 25% of its capital, Hayett is consolidated through equity method.
2024 Financial Results
The draft resolutions show a net result of 9,018 MTND for 2024, representing a 27.5% decrease compared to 2023. The increase in corporate tax to 40% has contributed to this decline. The board of directors has proposed distributing dividends of 6,000 MTND, equivalent to 40 TND per share. It is worth noting that Hayett's capital consists of 150,000 shares with a nominal value of 100 TND each.
Market Performance
Hayett is the fourth-largest player in the life insurance market (2023 figures) with a 10% market share. The company's activity is trending positively, with its 2024 life insurance and capitalization revenue increasing by 20.1% to 1,146.9 MTND. No other insurance policy has achieved such performance. Life insurance investments are one of the best ways to reduce taxable income in Tunisia, and the current context offers the opportunity for high returns while allowing for tax reduction.
Nomination of New Administrator
Shareholders will also be invited to vote on the nomination of PGI Holding as an administrator for a three-year term, expiring at the ordinary general meeting that will deliberate on the 2027 financial statements.
