AM Best has affirmed the Financial Strength Rating of B+ (Good) and Long-Term Issuer Credit Rating of “bbb-” of Société Tunisienne de Réassurance (Tunis Re), it says in statement, adding the outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Tunis Re’s balance sheet strength, which AM Best categorizes as very strong, as well as the company’s adequate operating performance, limited business profile and appropriate enterprise risk management (ERM), the global rating agency pointed out.
Tunis Re’s balance sheet strength is underpinned by risk-adjusted capitalization, which was at the strongest level at year-end 2018, as measured by Best’s Capital Adequacy Ratio (BCAR).
