Tunis Re Maintains Financial Solidity Rating of "AA (tun)" with a Stable Outlook, Says Fitch Ratings
This confirmation reflects the resilience and solidity of the leading Tunisian reinsurer. Fitch justifies this rating by Tunis Re's dominant position in the local market, its high solvency compared to its peers, and its extensive international presence, particularly in countries with higher ratings than Tunisia.
In 2024, the company achieved a net combined ratio of 95.9%, demonstrating effective underwriting management despite losses incurred following the April floods in Dubai. The return on equity (ROE) stood at 8.5% in 2024, up from 7.7% the previous year, testifying to improving profitability. These performances are supported by a conservative reinsurance policy and strict retrocession standards, which enable Tunis Re to mitigate shocks related to international claims or foreign exchange market volatility.
This new endorsement by Fitch reinforces Tunis Re's credibility among its local and international partners, consolidating its position as a pillar of the Tunisian reinsurance sector.
