Tunis Re, the Tunisian reinsurance company, has reported a resilient first-half performance for 2026, with gross written premiums reaching 126 million dinars (MD), a 2.2% increase compared to the same period in 2025.
The modest top-line growth comes against a backdrop of currency volatility, including a depreciating U.S. dollar, and ongoing geopolitical tensions. Management attributed the result to a deliberate strategy balancing portfolio expansion with disciplined underwriting, citing tighter exposure controls and targeted adjustments to pricing conditions. The company has achieved 48% of its full-year 2026 premium target.
Claims burden eases sharply
In a standout improvement, net claims costs fell to 30 MD for the six months ended June 30, down 16% from 36 MD in H1 2025. The group pointed to rigorous risk selection and the absence of major catastrophic events during the period as key drivers.
As a result, the net loss ratio improved to 33% in June 2026, compared with 35% a year earlier, a clear signal of better underwriting quality.
Investment income gains momentum
Financial income also delivered solid growth, rising 6.1% year-on-year to 17 MDT at the half-year mark. These figures include accrued but not yet received interest for both 2025 and 2026, though they exclude interest on deposits held with ceding companies.
Market reaction
On the Tunis Stock Exchange, investor sentiment appeared positive. Shares of Tunis Re traded at 14.37 dinars late morning, up 8.05% on the day, with a six-month high of 13.3 dinars and a daily volume of 60,000 shares.
The results underscore the reinsurer’s ability to navigate external headwinds while maintaining underwriting discipline – a combination that may reassure shareholders as the company enters the second half of the year.
