Comments on Tunis Re’s activity at the end of March 2025

Notes:

– Figures are updated progressively as delayed data is processed, across all sections (claims settled, claims reported, ceded premiums, and commissions).
– The indicators as of 31/12/2024 related to the 2024 fiscal year remain provisional until the financial statements are approved by the Ordinary General Assembly.

Highlights of Tunis Re’s activity in the first quarter of 2025:

 – A growth in turnover of 4% compared to March 31, 2024, reaching TND 76.433 million. This increase is the result of both higher volumes of underwritten business and a well-diversified portfolio. A 3% increase was recorded in the domestic market, while the international market grew by 15%.

• – Compared to the objectives set for the year 2025, the revenue achievement rate as of the first quarter of 2025 reached 4%.
• – A 4% increase in retained premium, rising from TND 56.109 million as of March 31, 2024, to TND 59.146 million at the end of the first quarter of 2025, resulting in a retention rate of 77%.
• – A 10% improvement in claims expense compared to March 2024, decreasing from TND 26.386 million to TND 23.788 million by the end of the first quarter of 2025. This improvement is attributed to a relatively mild loss experience during the quarter and underwriting practices tailored to the risks.
• – Financial income showed a slight decrease of 2.8% compared to March 31, 2024, reaching TND 7.513 million, due to high liquidity in the interbank market and tighter conditions for fixed-income investments. These earnings include accrued but not yet received interest (for both the 2024 and 2025 fiscal years), and do not take into account interest from deposits with ceding companies.