AM Best revises Tunis Re's outlook downwards

A.M. Best has affirmed the financial strength rating of "B+" and the long-term credit rating of "bbb-" of the Société Tunisienne de Réassurance (Tunis Re).

The rating reflects the financial strength of the company's balance sheet, its adequate operating performance and appropriate enterprise risk management.

However, the rating agency has revised downwards the outlook for these ratings from stable to negative. This decision is accounted for by Tunis Re's high exposure to economic and political risks.