A.M. Best confirms Tunis Re rating

A.M. Best confirms the Financial Strength Rating "B +" and the Long-Term Issuer Credit Rating of "bbb-" of the Tunisian Reinsurance Company (Tunis Re), Tunisia. The outlook of these two ratings remains stable.

The rating agency justifies its decision by the strength of Tunis Re's financial balance sheet, its financial flexibility and its risk-adjusted capitalization.

The operating performance of the Tunisian reinsurer is considered adequate. It is supported by solid returns on investment and positive technical results. The company had reported a return on equity of 7.6% and an average combined ratio of 97.9% over the past five years (2013-2017).