HomeNewsTunisia: Assurances BIAT posts profit of over 18 million dinars in 2023

Tunisia: Assurances BIAT posts profit of over 18 million dinars in 2023

Assurances BIAT has published its financial statements for the year ended December 31, 2023, which will be submitted to the Annual General Meeting for approval on May 30, 2024.

Last year, the company’s premium income grew by 18%, driven by 25% growth in the life business. In addition, the company maintained its collection levels despite the difficult economic environment.

The underwriting result for non-life insurance and reinsurance increased from 7 million dinars to 6.4 million dinars between 2022 and 2023, while the underwriting result for life insurance and reinsurance reached 20.3 million dinars, compared to 19.2 million dinars at the end of December 2023.

As a result, the company posted a net profit of 18.6 million dinars, compared with 19.5 million dinars in 2022, a decrease of about 4.7%.

In 2023, Assurances BIAT continued its project to digitize the automotive sector and implement IFRS 17.

In addition to the launch of the Customer Relations Centre project, the company continued to develop and transform its network with three new agents and the transformation of the Mégrine branch into an insurance agency.


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