Strategic Market Intelligence: Insurance Industry in Tunisia - Key Trends and Opportunities to 2022

Strategic Market Intelligence: Insurance Industry in Tunisia - Key Trends and Opportunities to 2022

  • April 2019 •
  • 96 pages •
  • Report ID: 5770016 •
  • Format: PDF
Strategic Market Intelligence: Insurance Industry in Tunisia - Key Trends and Opportunities to 2022

Summary
In 2017, Tunisia ranked seventh in the Middle East and North Africa (MENA) region, in terms of insurance penetration, according to the Ministry of Finance (CGA). The insurance industry’s DWP increased from TND1,392.9 million (US$820.5 million) in 2013 to TND2,066.4 million (US$784.2 million) in 2017, at a review period (2013-2017) CAGR of 10.4%.

General insurance was the largest segment in 2017, accounting for 78.8% of the insurance industry’s DWP. It was sized at TND1,617.9 million (US$618.2 million), and is expected to value TND2,332.8 million (US$769.5 million) by 2022, at a forecast-period (2017-2022) CAGR of 7.5%. The general insurance segment was dominated by motor insurance, which accounted for 57.7% of the general insurance DWP, and health insurance with 18.1% DWP in 2017.

The life insurance segment was dominated by term life insurance, with 38.4% of the life insurance’s DWP, and capitalization insurance with 28.6% DWP. The increase in the insurance industry DWP is higher than the country’s population, which led to a rise in insurance density.

In 2017, the Tunisian insurance industry was dominated by domestic insurers.Star Tunisian Insurance and Reinsurance Company, the Mediterranean Company of Insurance and Reinsurance Company (COMAR) and AMI (Mutual Insurance Ittihad) were the key general insurers that year.

Attijari Insurance, Arab International Bank of Tunisia (BIAT) Insurance and Maghrebia Life Insurance company were the key life insurers.

The insurance industry’s strong distribution network comprises direct marketing, brokers, bancassurance and agencies. Bancassurance was the dominant distribution channel in life insurance, with 51.2% of the new business life DWP in 2017, while insurance agencies was dominant in the general insurance segment, with 48.9% of the general insurance DWP that same year. As of September 2018, there were 62 insurance brokers approved under CGA. Foreign insurers such as Mapfre and Bupa and reinsurers such as Aveni Re and Continental Re also operate in the country.

The report "Strategic Market Intelligence: Insurance Industry in Tunisia - Key Trends and Opportunities to 2022", report provides a detailed outlook by product category for the Tunisian insurance industry, and a comparison of the Tunisian insurance with its regional counterparts.It provides values for key performance indicators such as written premium, paid claims, loss ratio, penetration, and density during the review period (2013-2017) and forecast period (2017-2022).

The report also gives a comprehensive overview of the Tunisian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country.

The report provides -
- A comprehensive analysis of the Insurance Industry in Tunisia
- Historical values for the Tunisian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period
- Detailed analysis of the key categories in the Tunisian insurance industry, and market forecasts to 2022

Companies mentioned: Attijari Insurance, Arab International Bank of Tunisia(BIAT) Insurance, Maghrebia Life Insurance, Hayett Insurance, Tunisian-European Life Insurance and Reinsurance Company, Salim Insurance Company, Astree Insurance and Reinsurance Company, GAT Vie(Insurance Group of Tunisia), The group of Tunisian Mutual Agricultural Insurance Fund (CTAMA), Lloyd Tunisian Insurance and Reinsurance Company, Star Tunisian Insurance and Reinsurance Company, The Mediterranean Company of Insurance and Reinsurance Company (COMAR), AMI (Mutual Insurance Ittihad), GAT (Insurance Group of Tunisia), Maghrebia Insurance, Tunisian-European Insurance and Reinsurance Company, MAE (Mutual Insurance of Education)

Scope
- This report provides a comprehensive analysis of the Insurance Industry in Tunisia.
- It provides historical values for the Tunisian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
- It offers a detailed analysis of the key categories in the Tunisian insurance industry, and market forecasts to 2022.

Reasons to buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Tunisian insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Tunisian insurance industry.
- Assess the competitive dynamics in the insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
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