Tunis Re, 2016 third quarter's results

Tunis Re published its results ending 30/09/2016. The Tunisian reinsurer posted a 20% increase in its turnover (compared to the same period of 2015).

This performance is due partly to the strong growth of retakaful business going from 4.465 million TND (2.28 million USD) to 6.534 million TND (2.97 million USD) at the end of September 2016 with an increase of 46% in local currency.

Note however that the depreciation of the Tunisian dinar has not only negatively impacted foreign acceptances of the company but also led to a 6% increase in the gross incurred losses.

Read also:

• AM Best affirms Tunis Re’s rating
• Tunis Re, 1st quarter 2016 results