Tunis Re Announces Q2 2025 Results: Net Acceptances Down 2.4%
Tunis Re, the national reinsurer, has released its financial results for the second quarter of 2025. Net acceptances totaled 46,905 MTND, a 2.4% decrease compared to the same period last year.
Retakaful Activity Sees Decline
The decline in net acceptances is attributed to the Retakaful activity, which saw a decrease from 7,524 MTND in Q2 2024 to 5,888 MTND in Q2 2025.
Conventional Activity Shows Improvement
On the other hand, the conventional activity saw an improvement in production in the following branches:
- Fire: +2.9% to 20,573 MTND
- Technical Risks: +16.1% to 6,228 MTND
- Aviation: +184.1% to 1,128 MTND
The retrocession rate remained stable, with 8,321 MTND in retroceded premiums. Net acceptances totaled 38,584 MTND, a 2.4% decrease.
Progress Towards 2025 Objectives
As of the first half of 2025, the revenue realization rate reached 49% of the objectives set for the year. Net retrocession acceptances stood at 97,730 MTND, a 2.2% increase compared to June 2024. Net acquisition costs totaled 32,491 MTND over the same period.
Claims and Financial Performance
Net claims costs decreased significantly, from 52,592 MTND in the first half of 2024 to 36,190 MTND in the same period this year. The Fire branch, which had cost the reinsurer 30,874 MTND in net indemnities last year, saw a significant decrease in claims. The loss ratio improved, from 55% in June 2024 to 35% in June 2025. Financial products remained stable at 16,044 MTND.
Management Commentary
According to management, the improvement in results would have been even more significant if not for the depreciation of the US dollar observed in recent months. The reinsurer is expected to post a profit increase for the first half of 2025, thanks to its efforts to control commitments and selectively adjust its subscription portfolio.
