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HomeNewsTunisia: AMI Assurances decides to increase its equity capital by 150 MD

Tunisia: AMI Assurances decides to increase its equity capital by 150 MD

The company AMI Assurances has just announced that its Board of Directors, meeting on March 6, 2020, decided to propose to the company’s shareholders to increase its equity by a total amount of 150 million dinars to cover additional needs for provisions and ensure the development of the company in accordance with its strategic plan.

This increase includes issuance of equity securities in the amount of 40 million dinars, the incorporation of reserves for an amount of 18 million dinars and a cash contribution of 92 million dinars.

The company affirms that the reference shareholders (UGTT, BNA Group and HBG Holding), aware of the company’s potential and the progress made in implementing its strategic plan, have validated this plan and will support its implementation.

As part of the implementation of its strategic plan and in order to better manage the risks in the motor insurance sector, AMI Assurances has audited the provisions of all motor claims files open at December 31, 2018 and has entrusted this task to two independent firms.

This review led to an increase in claims reserves payable and improved procedures for managing and reserving automobile claims files.

AMI Assurances has included these revaluations of provisions in its financial statements for the year ended December 31, 2018.

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