New insurance products launched in Tunisia

Oct 14, 2011

Kamel Chibani, National Delegate for the Tunisian Insurance Federation, has announced the launch of new products in order to boost the sector's growth.

Kamel Chibani, National Delegate for the Tunisian Insurance Federation, has announced the launch of new products in order to boost the sector's growth.

He told TAP news agency that several innovations in the microinsurance sector will be available before the end of 2011.

These products will target low-income individuals, he said, adding that the current post-revolution environment is fertile for the development of microinsurance

They will focus on the life-microinsurance sector, health, incapacity and crops, as well as professional microinsurance and microinsurance on property.

He added that three specialised institutions in life insurance will be created, as well as a new fully comprehensive insurance for housing, also launched by the end of 2011, La Presse newspaper reports.

Finally, Mr Chibani announced the arrival in the first quarter 2012 of a new Islamic insurance product called Takaful et re-Takaful.

Introduced by Zitouna bank, it is a cooperative insurance, where subscribers spread costs, losses and debts.

According to official figures published by Xinhua, the turnover of the insurance sector in Tunisia registered an increase of 6.1 percent between the first quarter of 2010 and 2011, rising from 619 million dinars (€317 million) to 657.4 million dinars.ADNFCR-2976-ID-800759731-ADNFCR