Tunis Re’s rating confirmed by AM Best

AM Best has confirmed Tunis Re’s financial strength rating, which is maintained at B+ with "stable" outlook. The rating agency justified this decision by the high level of capital-risk and the good underwriting performance of the reinsurer in 2012.

In contrast, the economic and political situation in the country is a negative factor especially as the activity of Tunis Re is highly concentrated in the country. In 2012, the gross premiums written by Tunis Re increased by 9.2 % at 77 million TND (49.7 million USD) while the net profit reached 6.2 million TND (4 million USD).

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