Tunis Re: Q3 2019 Results
Tunis Re ended the first nine months of 2019 with a gross turnover of 120.213 million TND (40.9 million USD), up by 18.83% compared to the same period in 2018. This performance has enabled the Tunisian reinsurer to reach 79% of its targets for the current year.
Turnover breakdown as at 30/12/2019
| Turnover (in millions TND) | Turnover (in millions USD) | In % of turnover | |
|---|---|---|---|
Non life insurance | 100.019 | 34.032 | 83.20% |
Life insurance | 6.107 | 2.077 | 5.08% |
Retakaful | 14.087 | 4.793 | 11.72% |
Total | 120.213 | 40.902 | 100% |
The gross incurred losses for the first nine months of 2019 increased slightly in comparison with the premiums. They rose from 56.603 million TND (20.17 million USD) at 30/09/2018 to 62.687 million TND (21.33 million USD) twelve months later, that is a 10.74% growth.
The financial products which amounted to 17.967 million TND (6.11 million USD) sharply grew by 4% in one year.
Read also | Tunis Re, a 17.2% increase in turnover during the first half of 2019
