Tunis Re, a 14% increase in 2018 turnover

Tunis Re reported at 31 December 2018 a turnover of 138.195 million TND (45.914 million USD), up by 13.6% compared to the same period of the previous year. The reinsurer exceeds thus the forecast, after having achieved 100.4% of its target turnover for 2018.

The retakaful premiums amounted to 13.628 million TND (4.52 million USD), that is an increase of 26% compared to 10.834 million TND (4.37 million USD) recorded in 2017.

The incurred losses reached 119.813 million TND (39.806 million USD) against 79.5 million TND (32.072 USD), up by 50.7%.

The reinsurer's accounts were affected by two major losses: the collision of the ship Ulysses, owned by the Tunisian Navigation Company (CTN) with a Cypriot container ship and the floods of Cape Bon and Grand Tunis. At the foreign market level, the incurred losses were impacted by the Tunisian dinar depreciation against the foreign currencies.

Increasing by 29%, the financial products amounted to 21.843 million TND (7.257 million USD) in 2018.

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