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

Notes:

• – Figures are updated progressively as late data is processed across all headings (claims paid, claims reported, ceded premiums, commissions).
• – Indicators relating to the 2024 financial year are audited and approved by the Ordinary General Assembly.

Key Highlights of the Third Quarter of 2025:

Tunis Re continues to stay on course and confirms its financial strength in the third quarter of 2025, once again demonstrating its resilience in a demanding economic and sectoral environment.

By the end of the third quarter of 2025, the Company recorded solid technical and financial performance.

– Sustained Business Growth:

• * Revenue grew by 3% to reach TND 179.3 million compared to September 30, 2024, while net earned premium increased by 4%. This development reflects disciplined underwriting and selective portfolio adjustments. On international markets, revenue also increased by 3%, although this performance was tempered by the depreciation of the US dollar in recent months.
• * As of end-September 2025, 72% of the annual revenue target has already been achieved, confirming Tunis Re’s strong growth trajectory.
• * The loss ratio improved significantly, reaching 43%, compared to 58% at the end of Q3 2024. This improvement is mainly the result of rigorous risk management and a decrease in the severity of recorded claims.
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– Improved Financial Results:

Financial income increased by 12%, reaching TND 26.4 million compared to TND 23.5 million a year earlier.

These results include accrued but not yet due interest for 2024 and 2025, excluding interest on deposits with ceding companies.