Magazine

Nov 2019

Read the latest edition of AIR and MEIR as an Interactive e-book

Tunisia: Forex losses hit Tunis Re's 1H profits

Source: Middle East Insurance Review | Oct 2019

Tunis Re posted a net profit of TND6.1m ($2.1m) for the first half of this year, compared to TND15.2m for the corresponding period last year.
 
In 1H2019, technical results generated from life business amounted to TND1m, a marginal decline from TND1.1m for 1H2018. In contrast, non-life technical results amounted to TND515,000, plunging from TND9.1m for the corresponding half of 2018.
 
This sharp drop in non-life technical profit is attributed to increased foreign exchange losses from TND0.4m in 1H2018 to TND7.3m in 1H2019. M 
 
TND1 = $0.35
 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.