The Insurance Industry in Tunisia, Key Trends and Opportunities to 2021

Published: Mar, 2018 | Pages: 135 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)

Synopsis

Timetric’s 'The Insurance Industry in Tunisia, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Tunisian insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2012–2016) and forecast period (2016–2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Tunisian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'The Insurance Industry in Tunisia, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Tunisian insurance industry, including:

• The Tunisian insurance industry's growth prospects by segment and category

• A comprehensive overview of the Tunisian economy and demographics

• Details of the competitive landscape in the Tunisian insurance industry

• The various distribution channels in the Tunisian insurance industry

• Details of regulatory policy applicable to the Tunisian insurance industry

• Analysis of natural hazards in the Tunisian insurance industry

Scope

This report provides a comprehensive analysis of the insurance industry in Tunisia:

• It provides historical values for the Tunisian insurance industry for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.

• It offers a detailed analysis of the key segments in the Tunisian insurance industry, along with market forecasts until 2021.

• It covers an exhaustive list of parameters, including written premium and claims.

• It analyzes the various distribution channels in Tunisia.

• It profiles the top insurance companies in Tunisia and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Tunisian insurance industry and each segment and category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Tunisian insurance industry.

• Assess the competitive dynamics in the Tunisian insurance industry.

• Identify the growth opportunities and market dynamics in key segments.

• Gain insights into key regulations governing the Tunisian insurance industry and their impact on companies and the industry's future.

Key Highlights

• In 2016, the insurance industry contributed 2.0% of Tunisian GDP.

• Until 2016, there were 22 insurers operating in the Tunisian insurance industry.

• In September 2016, the Tunisian parliament approved an investment law, which will provide flexibility to foreign investors in terms of transferring funds and financing infrastructure projects.

• In 2015, around 2.2% of the Tunisian population was covered by at least one microinsurance policy, which was the highest in the North African region.

 Table of Content

1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Industry Outlook
4.1 Regional Comparison
4.2 Industry Indicators
4.2.1 Gross written premium
4.2.2 Claims
4.2.3 Investments
5 Life Insurance Outlook
5.1 Life Insurance
5.1.1 Gross written premium
5.1.2 Penetration
6 Non-Life Insurance Outlook
6.1 Property Insurance
6.1.1 Gross written premium
6.1.2 Penetration
6.1.3 Claims
6.1.4 Profitability
6.2 Motor Insurance
6.2.1 Gross written premium
6.2.2 Penetration
6.2.3 Claims
6.2.4 Profitability
6.3 Marine, Aviation and Transit Insurance
6.3.1 Gross written premium
6.3.2 Penetration
6.3.3 Claims
6.3.4 Profitability
7 Personal Accident and Health Insurance Outlook
7.1 Health Insurance
7.1.1 Gross written premium
7.1.2 Penetration
7.1.3 Claims
7.1.4 Profitability
8 Reinsurance Outlook
8.1 Reinsurance Accepted
8.2 Premium Ceded
9 Distribution Channel Outlook
9.1 Analysis by Distribution Channel – Non-Life Insurance
9.2 Analysis by Distribution Channel – Personal Accident and Health Insurance
10 Natural and Man-Made Hazards
10.1 Flooding
10.2 Droughts
10.3 Earthquakes
10.4 Man-Made Disasters
10.5 Exposure
11 Competitive Landscape
11.1 Company Profiles
11.1.1 Star Tunisian Insurance and Reinsurance Company – company overview
11.1.2 Maghrebia Insurance and Reinsurance Company – company overview
11.1.3 Mediterranean Insurance and Reinsurance Company (Comar) – company overview
11.1.4 AMI Assurances – company overview
11.1.5 Group of Insurance Companies of Tunisia – company overview
12 Governance, Risk and Compliance
12.1 Legislation Overview and Historical Evolution
12.2 Latest Changes in Regulation
12.3 Legislation and Market Practice by Type of Insurance
12.3.1 Life Insurance
12.3.2 Property Insurance
12.3.3 Motor Insurance
12.3.4 Liability insurance
12.3.5 Marine, aviation and transit insurance
12.3.6 Personal accident and health insurance
12.4 Compulsory Insurance
12.4.1 Motor third party liability insurance
12.4.2 Workmen’s compensation
12.4.3 Liability for ships with respect to oil pollution
12.4.4 Decennial insurance for construction risks
12.4.5 Fire insurance for industrial and commercial risks, and for hotels
12.4.6 Transit insurance for imports by sea, air and land
12.4.7 Pollution insurance cover for oil and gas companies
12.5 Supervision and Control
12.5.1 International Association of Insurance Supervisors
12.5.2 African Insurance Organization
12.5.3 Comité Général des Assurances
12.5.4 The Tunisian Federation of Insurance Companies
12.6 Non-Admitted Insurance Regulations
12.6.1 Overview
12.6.2 Intermediaries
12.6.3 Market practices
12.6.4 Fines and Penalties
12.7 Company Registration and Operations
12.7.1 Type of insurance organization
12.7.2 Establishing a local company
12.7.3 Foreign ownership
12.7.4 Types of license
12.7.5 Capital requirements
12.7.6 Solvency margin
12.7.7 Reserve requirements
12.7.8 Investment regulations
12.7.9 Statutory return requirements
12.7.10 Fee structure
12.8 Taxation
12.8.1 Insurance premium or policy taxation
12.8.2 Withholding taxes on premium paid overseas.
12.8.3 Corporate tax
12.8.4 VAT
12.8.5 Captives
12.9 Legal System
12.9.1 Introduction
12.9.2 Access to court
12.9.3 Alternative dispute resolution
13 Databook
13.1 Life Insurance
13.1.1 Policies and premium
13.1.2 Claims and expenses
13.1.3 Assets and investments
13.1.4 Direct marketing and e-Commerce
13.1.5 Insurance brokers and agencies
13.1.6 Bancassurance and other distribution channels
13.1.7 Linked vs non-linked policies
13.2 Non-Life Insurance
13.2.1 Policies and premium
13.2.2 Claims and expenses
13.2.3 Assets and investments
13.2.4 Direct marketing and e-Commerce
13.2.5 Insurance brokers and agencies
13.2.6 Bancassurance and other distribution channels
13.2.7 Property insurance
13.2.8 Property insurance by category
13.2.9 Motor insurance
13.2.10 Marine, aviation and transit insurance
13.3 Personal Accident and Health Insurance
13.3.1 Policies and premium
13.3.2 Claims and expenses
13.3.3 Assets and investments
13.3.4 Direct marketing and e-Commerce
13.3.5 Insurance brokers and agencies
13.3.6 Bancassurance and other distribution channels
13.3.7 Health insurance
14 Definitions and Methodology
14.1 Definitions
14.2 Methodology
15 About Timetric
15.1 Contact Timetric
15.2 About Timetric
15.3 Timetric’s Services
15.4 Disclaimer

List of Tables

Table 1: Tunisian Insurance Industry – Key Facts, 2016
Table 2: Tunisian Insurance Industry – Segment Shares of the Top Insurers, 2015
Table 3: Tunisian Government Credit Ratings
Table 4: Tunisian Insurance Industry – Gross Written Premium by Segment (TND Billion), 2012–2016
Table 5: Tunisian Insurance Industry – Gross Written Premium by Segment (TND Billion), 2016–2021
Table 6: Tunisian Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (TND), 2012–2016
Table 7: Tunisian Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (TND), 2016–2021
Table 8: Tunisian Insurance Industry – Paid Claims by Segment (TND Million), 2012–2016
Table 9: Tunisian Insurance Industry – Paid Claims by Segment (TND Million), 2016–2021
Table 10: Tunisian Insurance Industry – Total Investment Income by Segment (TND Million), 2012–2016
Table 11: Tunisian Insurance Industry – Total Investment Income by Segment (TND Million), 2016–2021
Table 12: Tunisian Individual Life Insurance – Gross Written Premium (TND Million and US$ Million), 2012–2016
Table 13: Tunisian Individual Life Insurance – Gross Written Premium (TND Million and US$ Million), 2016–2021
Table 14: Tunisian Property Insurance – Gross Written Premium (TND Million and US$ Million), 2012–2016
Table 15: Tunisian Property Insurance – Gross Written Premium (TND Million and US$ Million), 2016–2021
Table 16: Tunisian Property Insurance – Paid Claims (TND Million and US$ Million), 2012–2016
Table 17: Tunisian Property Insurance – Paid Claims (TND Million and US$ Million), 2016–2021
Table 18: Tunisian Property Insurance – Loss Ratio (%), 2012–2016
Table 19: Tunisian Property Insurance – Loss Ratio (%), 2016–2021
Table 20: Tunisian Motor Insurance – Gross Written Premium (TND Million and US$ Million), 2012–2016
Table 21: Tunisian Motor Insurance – Gross Written Premium (TND Million and US$ Million), 2016–2021
Table 22: Tunisian Motor Insurance – Paid Claims (TND Million and US$ Million), 2012–2016
Table 23: Tunisian Motor Insurance – Paid Claims (TND Million and US$ Million), 2016–2021
Table 24: Tunisian Motor Insurance – Loss Ratio (%), 2012–2016
Table 25: Tunisian Motor Insurance – Loss Ratio (%), 2016–2021
Table 26: Tunisian Marine, Aviation and Transit Insurance – Gross Written Premium (TND Million and US$ Million), 2012–2016
Table 27: Tunisian Marine, Aviation and Transit Insurance – Gross Written Premium (TND Million and US$ Million), 2016–2021
Table 28: Tunisian Marine, Aviation and Transit Insurance – Paid Claims (TND Million and US$ Million), 2012–2016
Table 29: Tunisian Marine, Aviation and Transit Insurance – Paid Claims (TND Million and US$ Million), 2016–2021
Table 30: Tunisian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2012–2016
Table 31: Tunisian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2016–2021
Table 32: Tunisian Health Insurance – Gross Written Premium (TND Million and US$ Million), 2012–2016
Table 33: Tunisian Health Insurance – Gross Written Premium (TND Million and US$ Million), 2016–2021
Table 34: Tunisian Health Insurance – Paid Claims (TND Million and US$ Million), 2012–2016
Table 35: Tunisian Health Insurance – Paid Claims (TND Million and US$ Million), 2016–2021
Table 36: Tunisian Health Insurance – Loss Ratio (%), 2012–2016
Table 37: Tunisian Health Insurance – Loss Ratio (%), 2016–2021
Table 38: Tunisian Reinsurance – Premium Accepted by Category (TND Million), 2012–2016
Table 39: Tunisian Reinsurance – Premium Accepted by Category (TND Million), 2016–2021
Table 40: Tunisian Reinsurance – Premium Ceded by Insurance Segment (TND Million), 2012–2016
Table 41: Tunisian Reinsurance – Premium Ceded by Insurance Segment (TND Million), 2016–2021
Table 42: Tunisian Non-Life Insurance – Direct Written Premium by Types of Distribution Channel (TND Million), 2012–2016
Table 43: Tunisian Non-Life Insurance – Direct Written Premium by Types of Distribution Channel (TND Million), 2016–2021
Table 44: Tunisian Non-Life Insurance – Direct Written Premium Share by Types of Distribution Channel (%), 2012–2021
Table 45: Tunisian Personal Accident and Health Insurance – Direct Written Premium by Types of Distribution Channel (TND Million), 2012–2016
Table 46: Tunisian Personal Accident and Health Insurance – Direct Written Premium by Types of Distribution Channel (TND Million), 2016–2021
Table 47: Tunisian Personal Accident and Health Insurance – Direct Written Premium Share by Types of Distribution Channel (%), 2012–2021
Table 48: Tunisian Top Insurers by Line of Business, 2015
Table 49: Tunisian Insurance Industry – Market Shares of Leading Insurers (%), 2015
Table 50: Tunisian Life Insurance Segment – Market Shares of Leading Insurers (%), 2015
Table 51: Tunisian Non-life Insurance Segment – Market Shares of Leading Insurers (%), 2015
Table 52: Star Tunisian Insurance and Reinsurance Company – Key Facts
Table 53: Maghrebia Insurance and Reinsurance Company – Key Facts
Table 54: Mediterranean Insurance and Reinsurance Company (Comar) – Key Facts
Table 55: AMI Assurances – Key Facts
Table 56: Group of Insurance Companies of Tunisia – Key Facts
Table57: Tunisia– Insurance Regulatory Framework Key Features
Table58:Tunisia – Life Insurance Regulatory Framework
Table59: Tunisia – Property Insurance Regulatory Framework
Table60: Tunisia – Motor Insurance Regulatory Framework
Table61: Tunisia – Liability Insurance Regulatory Framework
Table62: Tunisia – Tariff Rates for Motor Third-Party Liability Insurance
Table 63:Tunisia– Corporate Tax Rates for the Financial Year 2017
Table 64: Tunisian Life Insurance – Policies and Premium, 2012–2016
Table 65: Tunisian Life Insurance – Policies and Premium, 2016–2021
Table 66: Tunisian Life Insurance – Claims and Expenses, 2012–2016
Table 67: Tunisian Life Insurance – Claims and Expenses, 2016–2021
Table 68: Tunisian Life Insurance – Investments, 2012–2016
Table 69: Tunisian Life Insurance – Investments, 2016–2021
Table 70: Tunisian Life Insurance – Direct Marketing and E-Commerce, 2012–2016
Table 71: Tunisian Life Insurance – Direct Marketing and E-Commerce, 2016–2021
Table 72: Tunisian Life Insurance – Insurance Brokers and Agencies, 2012–2016
Table 73: Tunisian Life Insurance – Insurance Brokers and Agencies, 2016–2021
Table 74: Tunisian Life Insurance – Insurance Brokers and Agencies, 2012–2016
Table 75: Tunisian Life Insurance – Insurance Brokers and Agencies, 2016–2021
Table 76: Tunisian Life Insurance – Linked vs Non-Linked Policies, 2012–2016
Table 77: Tunisian Life Insurance – Linked vs Non-Linked Policies, 2016–2021
Table 78: Tunisian Non-Life Insurance – Policies and Premium, 2012–2016
Table 79: Tunisian Non-Life Insurance – Policies and Premium, 2016–2021
Table 80: Tunisian Non-Life Insurance – Claims and Expenses, 2012–2016
Table 81: Tunisian Non-Life Insurance – Claims and Expenses, 2016–2021
Table 82: Tunisian Non-Life Insurance – Assets and Investments, 2012–2016
Table 83: Tunisian Non-Life Insurance – Assets and Investments, 2016–2021
Table 84: Tunisian Non-Life Insurance – Direct Marketing and E-Commerce, 2012–2016
Table 85: Tunisian Non-Life Insurance – Direct Marketing and E-Commerce, 2016–2021
Table 86: Tunisian Non-Life Insurance – Insurance Brokers and Agencies, 2012–2016
Table 87: Tunisian Non-Life Insurance – Insurance Brokers and Agencies, 2016–2021
Table 88: Tunisian Non-Life Insurance – Insurance Brokers and Agencies, 2012–2016
Table 89: Tunisian Non-Life Insurance – Insurance Brokers and Agencies, 2016–2021
Table 90: Tunisian Non-Life Insurance – Property Insurance, 2012–2016
Table 91: Tunisian Non-Life Insurance – Property Insurance, 2016–2021
Table 92: Tunisian Non-Life Insurance – Property Insurance by Category, 2012–2016
Table 93: Tunisian Non-Life Insurance – Property Insurance by Category, 2016–2021
Table 94: Tunisian Non-Life Insurance – Motor Insurance, 2012–2016
Table 95: Tunisian Non-Life Insurance – Motor Insurance, 2016–2021
Table 96: Tunisian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2012–2016
Table 97: Tunisian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2016–2021
Table 98: Tunisian Personal Accident and Health Insurance – Policies and Premium, 2012–2016
Table 99: Tunisian Personal Accident and Health Insurance – Policies and Premium, 2016–2021
Table 100: Tunisian Personal Accident and Health Insurance – Claims and Expenses, 2012–2016
Table 101: Tunisian Personal Accident and Health Insurance – Claims and Expenses, 2016–2021
Table 102: Tunisian Personal Accident and Health Insurance – Assets and Investments, 2012–2016
Table 103: Tunisian Personal Accident and Health Insurance – Assets and Investments, 2016–2021
Table 104: Tunisian Personal Accident and Health Insurance – Direct Marketing and E-Commerce, 2012–2016
Table 105: Tunisian Personal Accident and Health Insurance – Direct Marketing and E-Commerce, 2016–2021
Table 106: Tunisian Personal Accident and Health Insurance – Insurance Brokers and Agencies, 2012–2016
Table 107: Tunisian Personal Accident and Health Insurance – Insurance Brokers and Agencies, 2016–2021
Table 108: Tunisian Personal Accident and Health Insurance – Bancassurance and Other Distribution Channel, 2012–2016
Table 109: Tunisian Personal Accident and Health Insurance – Bancassurance and Other Distribution Channel, 2016–2021
Table 110: Tunisian Personal Accident and Health Insurance – Health Insurance, 2012–2016
Table 111: Tunisian Personal Accident and Health Insurance – Health Insurance, 2016–2021
Table 112: Insurance Industry Definitions

List of Figures

Figure 1: Tunisian Nominal GDP (TND Billion), 2012–2021
Figure 2: Tunisian Consumer Price Inflation (%), 2012–2021
Figure 3: TND-US$ Exchange Rate, 2012–2021
Figure 4: Tunisian Unemployment Rate, 2012–2021
Figure 5: Tunisian Population by Age Group, 1991–2025
Figure 6: Tunisian Life Insurance Penetration – Regional Comparison (%), 2016
Figure 7: Tunisian Non-Life Insurance Penetration – Regional Comparison (%), 2016
Figure 8: Tunisian Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2016
Figure 9: Tunisian Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2016
Figure 10: Tunisian Insurance Industry – Gross Written Premium by Segment, 2012–2021
Figure 11: Tunisian Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (TND), 2012–2021
Figure 12: Tunisian Insurance Industry – Paid Claims by Segment (TND Million), 2012–2021
Figure 13: Tunisian Insurance Industry – Total Investment Income by Segment (TND Million), 2012–2021
Figure 14: Tunisian Individual Life Insurance – Gross Written Premium (TND Million), 2012–2021
Figure 15: Tunisian Individual Life Insurance – Penetration (%), 2012–2016
Figure 16: Tunisian Individual Life Insurance – Penetration (%), 2016–2021
Figure 17: Tunisian Property Insurance – Gross Written Premium (TND Million), 2012–2021
Figure 18: Tunisian Property Insurance – Penetration (%), 2012–2016
Figure 19: Tunisian Property Insurance – Penetration (%), 2016–2021
Figure 20: Tunisian Property Insurance – Paid Claims (TND Million), 2012–2021
Figure 21: Tunisian Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (TND Million and %), 2012–2021
Figure 22: Tunisian Motor Insurance – Gross Written Premium (TND Million), 2012–2021
Figure 23: Tunisian Motor Insurance – Penetration (%), 2012–2016
Figure 24: Tunisian Motor Insurance – Penetration (%), 2016–2021
Figure 25: Tunisian Motor Insurance – Paid Claims (TND Million), 2012–2021
Figure 26: Tunisian Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (TND Million and %), 2012–2021
Figure 27: Tunisian Marine, Aviation and Transit Insurance – Gross Written Premium (TND Million), 2012–2021
Figure 28: Tunisian Marine, Aviation and Transit Insurance – Penetration (%), 2012–2016
Figure 29: Tunisian Marine, Aviation and Transit Insurance – Penetration (%), 2016–2021
Figure 30: Tunisian Marine, Aviation and Transit Insurance – Paid Claims (TND Million), 2012–2021
Figure 31: Tunisian Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (TND Million and %), 2012–2021
Figure 32: Tunisian Health Insurance – Gross Written Premium (TND Million), 2012–2021
Figure 33: Tunisian Health Insurance – Penetration (%), 2012–2016
Figure 34: Tunisian Health Insurance – Penetration (%), 2016–2021
Figure 35: Tunisian Health Insurance – Paid Claims (TND Million), 2012–2021
Figure 36: Tunisian Health Insurance – Earned Premium, Incurred Loss and Loss Ratio (TND Million and %), 2012–2021
Figure 37: Tunisian Reinsurance – Premium Accepted by Category (TND Million), 2012–2021
Figure 38: Tunisian Reinsurance – Premium Ceded by Insurance Segment (TND Million), 2012–2021
Figure 39: Tunisian Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2021
Figure 40: Tunisian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2021
Figure 41: Tunisian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2021
Figure 42: Tunisian Non-Life Insurance – Direct Written Premium Share by Types of Distribution Channel (%), 2012, 2016 and 2021
Figure 43: Tunisian Personal Accident and Health Insurance – Direct Written Premium Share by Types of Distribution Channel (%), 2012, 2016 and 2021
Figure 44: Tunisian Insurance Industry – Market Shares of Leading Insurers (%), 2015
Figure 45: Tunisian Life Insurance Segment – Market Shares of Leading Insurers (%), 2015
Figure 46: Tunisian Non-life Insurance Segment – Market Shares of Leading Insurers (%), 2015
Figure 47: Tunisia – Insurance Supervision and Control at Various Levels
Figure 48: Tunisia– Insurance Regulatory Frameworks for Company Registration and Operation