Société Tunisienne de Réassurance (Tunis Re) reported improved underwriting results for the first half of 2026, with net claims falling 16% and the net loss ratio easing two percentage points year-on-year, according to key performance indicators published by the Tunisian reinsurer.
Tunis Re recorded a net loss ratio of 33%, down from 35% in the same period of 2025. Net claims incurred fell to TND 30.223 million (Tunisian dinar) from TND 36.190 million, a reduction the company attributed to tighter risk selection and the absence of major loss events during the period.
The improvement in claims experience came as earned premiums reached TND 126.060 million as at June 30, 2026, a 2.2% increase on the TND 123.338 million recorded a year earlier. The company noted the result was achieved against currency and geopolitical headwinds, including the depreciation of the US dollar, and represented 48% of its target for the full 2026 financial year.
International business accounted for the larger share of the premium base. Overseas premiums totalled TND 72.055 million at the half-year mark, against TND 54.006 million from the Tunisian domestic market. By geographic zone, Arab countries made up 20% of total turnover, Asia 17%, sub-Saharan Africa 15%, and Maghreb markets outside Tunisia 5%.
By line of business, non-marine remained the dominant segment at TND 107.178 million. Marine contributed TND 14.018 million and life TND 4.865 million to the total.
The reinsurer's investment portfolio reached TND 610.362 million as at June 30, 2026, up 8% from TND 564.203 million at the same point in 2025. Investment income for the period totalled TND 17.028 million, an increase of 6.1% year-on-year. The company noted that the income figure includes accrued but not yet due interest for both the 2025 and 2026 financial years and excludes interest on deposits held with ceding companies.
Tunis Re carries a national credit rating of AA(tun) with a stable outlook from Fitch Ratings. AM Best revised its outlook for the company from negative to stable in June 2025. The agency affirmed a financial strength rating of B (Fair) and a long-term issuer credit rating of "bb" (Fair). It cited resilient rating fundamentals despite ongoing economic, political and financial pressures in Tunisia.
The H1 2026 indicators are preliminary. Tunis Re noted that figures are updated progressively as late data across claims paid, reported claims, ceded premiums and commissions are processed. The 2025 full-year indicators have been audited and approved by the company's Ordinary General Meeting.
