Tunis Re

Being the first professional reinsurer on the market, the Société Tunisienne de Réassurance (Tunis Re) has come into being on March 25, 1981 thanks to a large consensus reached by the State, the insurance companies and the Tunisian banking sector.

Like its neighbours Morocco and Algeria, Tunisia was bound to create its own reinsurance company to supervise and coach the insurance sector which was undergoing profound mutations at the time.

Mohamed Dkhili

Chairman & General Manager

Initially, the company was supposed to provide the local insurance market with a reinsurance capacity and allow larger premium retention nationwide.
Soon after, this role got bigger and Tunis Re became a truly commercial company at the regional level with a network of more than 450 partners.

In line with its developmental policy, Tunis Re had to proceed to five capital increases in 25 years. The 2 000 000 TND (1.5 million USD) initial capital has been raised to 30 000 000 TND (22 million USD).

Regular visits of the targeted markets have enabled Tunis Re teams to set up a high-quality commercial network and to meet the expectations of their clients in Tunisia and abroad.

Turnover split by form of reinsurance: 2000-2005

in thousands USD

	2000	2001	2002	2003	2004	2005
Treaties	13 937	14 508	27 544	19 250	24 026	21 686
Facultatives	7 288	8 457	29 736	18 122	18 823	17 018
Total	21 225	22 965	57 280	37 372	42 849	38 704

Turnover split by class of business in 2005

in thousands USD

	Fire	Misc. accident	Engineering	Marine	Aviation	Life	Total
Facultatives	1 400	331	1 198	2 209	11 836	31	17 005
Treaties	7 937	5 677	3 006	4 102	493	484	21 699
Total	9 337	6 008	4 204	6 311	12 329	515	38 704

Turnover split by market/zone in 2005

in thousands USD

	Turnover	%
Tunisia	26 706	69%
Middle East	5 419	14%
Africa	2 709	7%
Maghreb	1 935	5%
Asia	1 548	4%
Europe	387	1%
Total	38 704	100%

Main financial highlights: 2000-2005

in thousands USD

	2000	2001	2002	2003	2004	2005
Gross premiums	21 225	22 965	57 280	37 372	42 849	38 704
Premiums net of retrocession	9 545	10 157	18 500	12 288	15 850	14 207
Gross earned premiums	10 270	21 139	51 582	35 618	42 219	37 768
Gross losses	15 903	25 361	23 308	13 038	17 446	52 278
Losses net of retrocession	9 383	8 518	11 998	8 039	9 447	9 135
Loss ratio gross of retrocession	79%	87%	45%	37%	41%	138%
Loss ratio net of retrocession	99%	115%	69%	63%	63%	63%
Management expenses	6 860	7101	12 882	8 901	10 558	9 481
Technical result	-3 258	-1 914	-320	218	-971	123
Investment income	2 531	2 448	2 352	2 296	2 551	2 296
Net result	906	737	2 515	2 746	1 780	2 009

Exchange rate TND/USD as at 31/12	2000	2001	2002	2003	2004	2005
	0.73083	0.67336	0.72860	0.72860	0.82008	0.73368

Thanks: We thank Tunis Re for their kind assistance in the conception of this survey.