Tunis Re, 2012 results

Tunis Re has successfully completed the second phase of its capital increase from 45 million TND (29.05 million USD) to 75 million TND (48.41 million USD). In 2012, the turnover of the company increased by 9.2% from 70.52 million TND (47.17 million USD) in 2011 to 77.02 million TND (49.72 million USD) in 2012.

61% of the portfolio is accounted for by conventional business and 39% by facultatives. With 31% of total premiums, fire is the first class to be underwritten, followed by aviation which accounts for 24% of the premiums. The year 2012 ended with a profit worth 6.19 million TND (3.99 million USD), compared to 2.66 million TND (1.78 million USD) in 2011, up by 132%. The combined ratio amounted to 98% in 2012 against 108% in 2011.