Key Highlights of Q1 2025 Performance

BH Assurance has released its activity indicators for the first quarter of 2025,revealing a robust overall performance. The company experienced significant growth across key segments, especially in non-life insurance, contributing to a ample increase in total turnover.

• Overall Turnover: Reached 65 million dinars (MD), a 15% increase compared to 56.3 MD in Q1 2024.
• Non-Life Insurance: Achieved a turnover of 42 MD, marking a 20% surge from 34.9 MD in the same period last year.
• Life Insurance: Reported a turnover of 23.1 MD, reflecting an 8% growth from 21.4 MD in Q1 2024.
• Claims load: decreased by 4%, totaling 33.9 MD compared to 35.3 MD at the end of March 2024.
• Placement Products: showed a 10% increase compared to the first quarter of the previous year.

Non-Life Insurance Fuels Growth

the primary driver behind BH Assurance’s remarkable 15% growth in premiums sold was the substantial expansion in its non-life insurance portfolio. This segment, encompassing areas like auto, property, and casualty insurance, demonstrated a remarkable 20% increase in turnover.

This growth aligns with broader trends in the insurance industry, where non-life sectors are often influenced by factors such as economic activity, regulatory changes, and evolving consumer needs. For example, increased construction activity can lead to higher demand for property insurance, while stricter regulations on vehicle safety can impact auto insurance premiums.

Life insurance Shows Steady Gains

While not as dramatic as the non-life sector, BH Assurance’s life insurance business also experienced positive momentum, with an 8% increase in turnover. This growth suggests a continued interest in life insurance products, perhaps driven by factors such as increased awareness of financial security and long-term planning.

The life insurance market is often influenced by demographic trends, interest rates, and consumer confidence. As populations age and individuals become more focused on retirement planning, the demand for life insurance products tends to increase.

Claims Load Reduction: A Positive Sign

The 4% decrease in the claims load is a noteworthy achievement for BH Assurance. A lower claims load can indicate improved risk management practices, more effective fraud detection, or simply a period with fewer major incidents resulting in insurance payouts.

Effective claims management is crucial for insurance companies, as it directly impacts profitability and customer satisfaction. by minimizing fraudulent claims and efficiently processing legitimate ones, insurers can maintain financial stability and build trust with their policyholders.

Investment Products Contribute to Overall Success

The 10% increase in placement products further underscores BH Assurance’s diversified approach to growth. These investment-linked insurance products offer customers the opportunity to grow their wealth while also benefiting from insurance coverage.

The popularity of investment products often fluctuates with market conditions and investor sentiment. During periods of economic stability and rising stock markets, these products tend to attract more interest from consumers seeking higher returns.