Key indicators for Tunisia's home-grown reinsurer, Tunis Reinsurance (Tunis Re), remained positive in the first half of the year, though currency depreciation continues to weigh on financial results.
In the first half of 2025, Tunis Re achieved a 4% growth in turnover, compared to the corresponding period of the past year, to reach TND123.34m ($43m), said the reinsurer in a press release. The increase is attributed to adjustments in risk selection and consolidation of the underwriting portfolio.
“This progress reflects proactive management of underwriting exposures, strategic portfolio adjustments, and continued efforts to streamline the underwriting book. This achievement might have been greater if the US dollar had not depreciated over the past months,” said the media release, adding that Tunis Re had in the first six months achieved 49% of the targets set for 2025.
Net claims fell by 31% to TND36.19m in 1H2025 compared to TND52.59m in 1H2024. “This improvement reflects enhanced selective risk underwriting, favourable claims experience, and the absence of major loss events during the period.
Investment income, which totalled TND16.04m in 1H2025, remained broadly stable compared to TND16.06m in the corresponding period last year. This income included accrued and unpaid interest (for both fiscal years 2024 and 2025). It does not include interest on deposits with ceding companies.
Tunis Re’s key financial indicators for 1H2025
|
TND m
|
1H 2025
|
1H2024
|
Change
|
|
Turnover
|
123.34
|
118.56
|
4%
|
|
Retention
|
97.73%
|
95.66%
|
2.07ppt
|
|
Gross claims
|
43.82
|
81.63
|
-46%
|
|
Investment income
|
16.04
|
16.06
|
-
|
Source: Tunis Re
Tunis Re’s portfolio is distributed across Asia, Africa and the Middle East. Tunisia commands 41% of the reinsurer’s portfolio, followed by Asia 23%, Arab countries 17%, Africa 13% and 5% Maghreb. In the first half of this year, written business from the domestic market grew by 2% year on year to TND51m while overseas operations increased by 6% to TND72.3m.