Fitch Ratings upgrades Tunis Re's rating

Fitch Rating has upgraded Tunis Re's National Insurer Financial Strength (IFS) rating from "AA- (tun)" to "AA (tun)".

The outlook remains stable. The results of the Tunisian reinsurer for 2015-2019, were deemed solid by the agency. The five-year average combined ratio was slightly below 100%, and the return on equity (ROE) was set at 8%.

Fitch Ratings also believes that the risks associated with assets are moderate. Another positive point is that the risk management policy has significantly improved.

Tunis Re’s benefits reflect the company’s leading position in the reinsurance market.