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HomeNewsTunisia: COMAR Assurances makes net profit of 26 million dinars in 2019

Tunisia: COMAR Assurances makes net profit of 26 million dinars in 2019

The Compagnie Méditerranéenne d’Assurances et de Réassurances “COMAR” has published its financial statements for the year ended December 31, 2019 as they will be submitted for approval to the Ordinary General Meeting to be held on June 5, 2020.

These statements show a Net Profit for the year of 25.8 million dinars, compared to 27.3 million in 2018, a decline of 5%.

As of December 31, 2019, gross investments amounted to 648.5 million dinars, compared to 607 million dinars a year earlier, including 358.3 million dinars invested in affiliated enterprises and participations.

Among these participations are Amen Santé (64.3 million dinars), COMAR CI (8.3 million), Hayett Insurance (8.1 million).

Thus, the total investment income amounts to 45.4 million dinars, which is almost the same level as in 2018.

The technical reserves amounted at the end of last December to 452.8 million dinars, against 434.6 million in 2018, including 371.4 million in reserves for claims and 62 million in reserves for unearned premiums.

In addition, personnel expenses increased from 20.9 million dinars in 2018 to 21.8 million dinars in 2019.

Commissions of all kinds, allocated to general agents and brokers, relating to direct insurance and recorded during the financial year 2019 amount to 24.5 million dinars, compared to 22.4 million in 2018.

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