Insurance
From The Report: Tunisia 2019
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Although Tunisia’s insurance market has grown steadily in recent years, it continues to be characterised by low penetration. As such, measures that are expected to promote expansion of the sector are being put in place. A new insurance code will strengthen the financial position of insurers and likely encourage a greater degree of sector consolidation. Furthermore, several segments, including life insurance and takaful (Islamic insurance), continue to show growth potential. In line with this dynamic, Tunisian insurers are increasingly considering new product development and ways to take advantage of the country’s high IT usage, focusing on digital mechanisms that can improve the provision of services and be able to reach new customers. This chapter contains an interview with Habib Ben Hassine, President, Tunisian Federation of Insurance Companies.

Articles from this Chapter

Overview

Balancing risk: Regulatory reform brings challenges and opportunities in a context of low penetration
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Although Tunisia’s insurance market has grown steadily in recent years, it continues to be characterised by low penetration. As such, measures are being put in place that are expected to promote expansion of the sector. A new insurance code will strengthen the financial position of insurers and likely encourage a greater degree of sector consolidation. Furthermore, several segments, including life insurance and takaful (Islamic insurance), continue to show growth potential. In line with this dynamic,…

Analysis

Increased protection: New insurance fund for natural disasters will allow businesses to protect themselves from losses
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Although Tunisia does not have the same exposure to large-scale earthquakes as Algeria and Morocco, it regularly faces the consequences of significant flooding to both rural and urban areas. These events regularly cause extensive damage. According to figures from Tunisia’s Ministry of Local Affairs and Environment, natural disasters have an annual economic impact of roughly $138m, with floods accounting for about 60% of damages. In 2018 heavy flooding prompted renewed calls for the government to…

Interview

Building momentum: Habib Ben Hassine, President, Tunisian Federation of Insurance Companies, on sustaining regional and local growth trends
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Interview:Habib Ben Hassine Can you describe the factors driving regional sector growth, and how insurers can leverage them? HABIB BEN HASSINE: The African insurance market is developing. In 2017 insurance premiums on the continent grew by 12.3% to reach €59.2bn, whereas global growth averaged 4%. However, there are significant disparities behind this figure: South Africa accounts for over 72% of premiums on the continent, while the regional penetration rate – excluding South Africa,…