Tunisia - Insurance

Although Tunisians have traditionally resisted taking out insurance, the insurance market has begun to grow rapidly, with turnover growing by 24% in 1994. Vehicle insurance is the biggest category. There are 22 companies in all, 15 of which are Tunisian and seven foreign, including firms from France and Italy. Four of the Tunisian companies are state-owned including the biggest, STAR, founded in 1958. The insurance business is shared roughly equally between state-owned and private companies.