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The Insurance Industry in Tunisia, Key Trends and Opportunities to 2017

Tunisian insurance industry dominated by non-life insurance segment


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2014-01-09 23:34:01 - The Insurance Industry in Tunisia, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

In terms of the MENA region as a whole, the Tunisian insurance industry is relatively small. However, the financial crisis and Tunisian revolution of 2011 did not have any significant impact on the country´s financial services sector. The main reason for this was the country´s limited economic participation in a global sense. The Tunisian insurance industry is dominated by the non-life insurance segment, which accounted for 69.6% of the industry´s written premium in 2012.

Segment growth was driven by a favorable regulatory framework, as insurance classes such as motor third-party liability, professional liability and work accident insurance are compulsory. In written premium value terms, the industry grew from TND955.7 million (US$775.1 million) in 2008 to TND1.2 billion (US$790.3 million) in 2012,

 

 

recording a review-period (2008−2012) CAGR of 6.6%.

Insurance penetration remains low when compared to other countries in the region and stood at 1.7% in 2012, as compared to 3.5% in Morocco. The new FDI legislation is likely to strengthen the Tunisian insurance industry.

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