Tunis Re 2018 first half results

Société Tunisienne de Réassurance (Tunis Re) posted, in the first six months of 2018, a 12.5% increase in its turnover which grew from 64.075 million TND (26.15 million USD) as at 30 June 2017, to 72.077 million TND (27.53 million USD) at the end of June 2018.

The retakaful insurance business recorded a more moderate increase of 10% to 6.485 million TND (2.48 million USD). The gross incurred losses were reduced by 4% from 32.206 million TND (13.14 million USD) at the end of June 2017 to 30.821 million TND (11.77 million USD) at June 30, 2018.

The financial income amounted to 10.706 million TND (4.09 million USD), up by 32% compared to 8.088 million TND (3.3 million USD) in 2017.

As a reminder, the rating agency A.M. Best confirmed, on July 26, 2018, the Tunisian reinsurer's "B +" financial strength rating and "bbb-" long-term credit rating. The outlook of these two ratings remains stable.