Tunisia: Tunis Re sees revenue rise to nearly $50 mln in 2017
Source: Middle East Insurance Review | Feb 2018
The Tunisian Reinsurance Company (Tunis Re) has posted a 2.5% increase in turnover to TND116.3 million (US$48.4 million) in 2017, compared to 2016, according to indicative figures released by the reinsurer.
Compared to targets set for 2017, the sales realisation rate at the end of 2017 reached 96%.
Non-life premiums showed flat growth, rising by 1.4% to TND98.75 million, while life premiums decreased by 4.8% to TND7.7 million. Retakaful contributions surged 19.4% to TND10.8 million last year.
Claims reached TND72 million, recording a 30% increase due to a few significant claims on both the local and foreign markets. Retrocession supported 44% of this gross charge against 40% in 2016.
The capital of Tunis Re is TND100 million, with the government owning 5.34%, Tunisian insurance companies 51.03%, Tunisian banks 24.81% and others 18.82%. M
TND1 = US$0.42