A.M. Best has given a Financial Strength Rating of B+ as well as a Long-Term Issuer Credit Rating of BBB to Société Tunisienne de Réassurance, which is described as being stable.
The ratings show that Tunis Re is strong and has increased in its strength over the last five years, with the aid of two capital injections and retained earnings that brought the capital base up from TND 68.6 million in 2011 to TND 191.3 million in 2016.
The risk-adjusted capitalization should stay strong though earnings retention possibly will be restricted by a dividend policy.
Tunis Re has been strong as a business in Tunisia and has reduced their dependence on the domestic market through growing in nearby countries, though they are still affected by the politics and economy in Tunisia.
