Tunis-Re Company has increased its capital from 75 million Tunisian dinars (MTD) to 100 MTD, announced its CEO, Lamia Ben Mahmoud.
This increase delayed since 2011 because of the Jasmine Revolution is planned in the 2012-2016 development plan.
The operation, to be reserved for a strategic partner, is likely to be increased to over 25%. The process should be completed in 2014 through an international call for tenders.
As a reminder, in early April, the re-insurer, founded in 1981, had made a first capital increase from 45 MTD to 75 MTD.
The reinsurance company is majority-owned by a pool of banks and insurance companies including the “Banque Nationale Agricole” (BNA with 16.3%).
The net income of Tunis Re increased by 55% at the first quarter of 2013 to 3.8 MTD. The turnover has posted a growth of 32% to 25 MTD.