A.M. Best confirms the Financial Strength Rating "B +" and the Long-Term Issuer Credit Rating of "bbb-" of the Tunisian Reinsurance Company (Tunis Re), Tunisia. The outlook of these two ratings remains stable.
The rating agency justifies its decision by the strength of Tunis Re [4]'s financial balance sheet, its financial flexibility and its risk-adjusted capitalization.
The operating performance of the Tunisian reinsurer is considered adequate. It is supported by solid returns on investment and positive technical results. The company had reported a return on equity of 7.6% and an average combined ratio of 97.9% over the past five years (2013-2017).