Fitch Ratings confirms the rating of Tunis Re

Fitch Ratings confirmed the financial strength rating " AA (tun) " of the Société Tunisienne de Réassurance (Tunis Re). The outlook supported by this rating remains stable.

The rating reflects the leading position of the company on the Tunisian market, its strategic role within the national economy, its adequate capitalization and its profitability.

In 2021, the Tunisian reinsurer recorded a 3% increase of its turnover set at 163.1 million TND (56.6 million USD). The net profit has reached 16.7 million TND (5.8 million USD), increasing 37% over a year.

The combined ratio stood at 92.5%. The return on equity (ROE) was set at 7.7% at the end of 2021.