Tunis Re: net technical result on the rise as at 31 December 2020

As at 31 December 2020, Tunis Re recorded a net technical result* increasing by 26% from 9.180 million TND (3.277 million USD) in 2019 to 11.583 million TND (4.274 million USD) in 2020.

During 2020, the decline in net premiums has been largely offset by the decrease in net incurred losses and net acquisition expenses which amount to 48.361 million TND (17.844 million USD) and 18.117 million TND (6.685 million USD) respectively, representing a decrease of 11.8% and 16.5% in one year.

The 2020 net turnover stands at 78.062 million TND (28.803 million USD) against 85.720 million TND (30.597 million USD) in 2019, that is, a decrease of about 9%. The gross turnover is down by 4.5% with a total of 154.773 million TND (57.1 million USD) against 162.135 million TND (57.8 million USD) on 31 December 2019.

On 31 December 2020, the financial products amounted to 24.057 million TND (8.8 million USD), a level comparable to that recorded in 2019.

* Net technical result = net premiums - (net incurred losses + net acquisition expenses)