Star Assurances Reports 10.21% Increase in Global Turnover for 2024
The Tunisian insurance and reinsurance company, Star Assurances, has published its results for 2024, recording a 10.21% increase in its global turnover, reaching 431.47 million dinars as of December 2024, compared to 391.48 million dinars in 2023.
The non-life branch, which represents 87.39% of the company's activity, saw an 8.05% increase, rising from 348.95 million dinars to 377.07 million dinars. This growth is mainly attributed to the increase in premiums issued in the health (+14.7%), fire (+21%), and automobile (+2.8%) branches.
The life branch also experienced a significant 27.9% growth, primarily due to savings activity and individual temporary death insurance products.
In parallel, acquired premiums increased by 9%, reaching 428.60 million dinars as of 2024, compared to 393.11 million dinars the previous year. Ceded premiums also saw a 23.1% increase, and indemnities paid out totaled 281.13 million dinars in 2024, a 9.2% increase compared to 2023, mainly due to reimbursements in the health branch.
In terms of financial products, Star Assurances recorded a slight 1% growth, with a total of 99.69 million dinars as of December 2024, compared to 98.74 million dinars in 2023. However, the company experienced a 12.54% decrease in its semi-annual net result for the first half of 2024, falling from 16.84 million dinars to 14.73 million dinars as of June 2024.
