AM Best Revises Outlooks to Stable for Société Tunisienne de Réassurance
LONDON, June 18, 2025--(BUSINESS WIRE)--AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of Société Tunisienne de Réassurance (Tunis Re) (Tunisia).
The Credit Ratings (ratings) reflect Tunis Re's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management (ERM).
The revision of the outlooks to stable from negative reflects AM Best's expectation that Tunis Re's rating fundamentals will remain resilient against the backdrop of the elevated economic, political and financial system risks prevailing in Tunisia.
Tunis Re's balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), which was at the strongest level at year-end 2024. AM Best expects the company's risk-adjusted capitalisation to remain at the strongest level, supported by good organic capital generation, despite a relatively onerous dividend policy. The assessment factors in Tunis Re's conservative investment portfolio by asset class, and its concentration in Tunisia, where the company holds over 95% of its invested assets in line with regulatory requirements, which weighs on asset quality.
Tunis Re has a track record of adequate operating performance, illustrated by a five-year (2020-2024) weighted average return-on-equity ratio of 8.2%. The company's earnings are derived largely from solid investment income, with a five-year weighted average net investment return (including gains/losses) of 7.8%. Tunis Re's underwriting performance is sound, underpinned by technical profits from its non-life portfolio, which translated into a five-year weighted average combined ratio of 96.0% (as calculated by AM Best). A partially offsetting rating factor is the potential volatility that foreign exchange gains and losses can introduce to Tunis Re's operating performance, as reported in recent years.
Tunis Re's business profile assessment reflects its leading position in Tunisia and its good diversification into regional markets, with approximately 60% of gross written premium (GWP) generated outside Tunisia. Nonetheless, with GWP of TND 241 million (USD 76 million) in 2024, Tunis Re's scale remains limited in the global reinsurance market, which could hamper its ability to grow in a profitable manner due to competitive pressures.
AM Best assesses Tunis Re's ERM as marginal, reflective of the high-risk operating environment in Tunisia, and the adverse impact it has on the company's risk profile.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250618600710/en/
Contacts
Fleur Ngassa Financial Analyst +44 20 7397 0295 fleur.ngassa@ambest.com Ghislain Le Cam, CFA, FRM Senior Director, Analytics +44 20 7397 0268 ghislain.lecam@ambest.com Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 christopher.sharkey@ambest.com Al Slavin Senior Public Relations Specialist +1 908 882 2318 al.slavin@ambest.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
37 minutes ago
- Business Wire
RESA Encourages U.S. Energy Consumers to Shop on National Energy Shopping Day
HARRISBURG, Pa.--(BUSINESS WIRE)--The Retail Energy Supply Association (RESA), the national trade association representing competitive retail energy suppliers, is marking the sixth annual National Energy Shopping Day by encouraging Americans to take advantage of their power to choose. Today is National Energy Shopping Day, which serves as an annual reminder to review your current energy plan, compare available offers, explore clean energy options and choose a gas and electric supplier that meets your individual needs. Share Recognized every year on the first day of summer and included in Chase's Calendar of Events, National Energy Shopping Day promotes consumer awareness and engagement in competitive energy markets. The day serves as a reminder for individuals and businesses in states with retail choice to shop for energy plans that reflect their personal preferences, whether that means seeking renewable options, locking in fixed rates or finding budget-friendly pricing. 'Shopping for energy is one of the most overlooked ways consumers can make a real impact on their energy bills, their sustainability goals and take control of their energy choices,' said Tracy McCormick, executive director of RESA. 'We believe that every consumer deserves more than one monopoly option. They deserve the right to choose.' Currently, 14 states and the District of Columbia allow consumers to select their own electricity and/or natural gas supplier. However, a national survey by Ragnar Research Partners reveals a significant disconnect: 74% of Americans want to choose their energy provider, while only 28% currently have the option. RESA offers free, easy-to-use tools at to help consumers: Determine if energy choice is available in their state Where to compare energy providers and plans How to shop for energy Understand key contract terms and rate structures Energy choice isn't just about shopping—it's about empowerment, competition and innovation. RESA remains committed to educating consumers, supporting transparent marketplaces and expanding access to energy choice nationwide. ABOUT NATIONAL ENERGY SHOPPING DAY National Energy Shopping Day is an initiative created by RESA to encourage individuals residing in states that offer retail energy choice in electric and natural gas suppliers to find the best provider tailored to their specific requirements. Consumers can select a plan that offers clean energy products or benefits, such as smart home integration or energy efficiency programs, for their homes or businesses. For more information, visit ABOUT RESA The Retail Energy Supply Association is a broad and diverse group of retail energy suppliers who share the common vision that competitive retail electricity and natural gas markets deliver a more efficient, customer-oriented outcome than a regulated utility structure. RESA is devoted to working with all stakeholders to promote vibrant and sustainable competitive retail energy markets for residential and industrial consumers. For more information, visit Follow RESA on LinkedIn and X (Twitter).
Business Wire
an hour ago
- Business Wire
Uber Expands AI Data Platform to Power Next-Gen Enterprise and AI Lab Needs
SAN FRANCISCO--(BUSINESS WIRE)--Uber Technologies, Inc. (NYSE: UBER) today announced a major expansion of its AI data services business, Uber AI Solutions, making its technology platform available to support AI labs and enterprises around the world. The new offerings include customized data solutions for building smarter AI models and agents, global digital task networks, and tools to help companies build and test AI models more efficiently. Over the past decade, Uber has developed deep expertise in collecting, labeling, testing, and localizing data for its own global operations, including optimizing the search of places or menu items, training self-driving car systems, building Gen AI agents for customer support, and translating content in more than 100 languages. Now that same expertise is being made available to other businesses through Uber AI Solutions, the company's dedicated team focused on powering the next generation of artificial intelligence. 'We're bringing together Uber's platform, people, and AI systems to help other organizations build smarter AI more quickly,' said Megha Yethadka, GM and Head of Uber AI Solutions. 'With today's updates, we're scaling our platform globally to meet the growing demand for reliable, real-world AI data.' What's New Global digital task platform Uber AI Solutions is now available in 30 countries with a platform that connects enterprises to global talent, including experts in coding, finance, law, science, and linguistics. These tasks include annotation, translation, and editing for multi-lingual and multi-modal content. Powered by Uber's foundational platforms for identity, verification, payments and more, this expands Uber's gig work model into the world of AI. A new data foundry A new service that provides ready-to-use and custom-collected datasets—including audio, video, image, and text—to train large AI models. Built with data collected by individuals around the world using Uber technology, the data foundry supports use cases on generative AI, mapping, speech recognition, and others, with built-in privacy and compliance. Agentic AI support Uber AI Solutions is offering the tools and data to help train smart AI agents, including realistic task flows, high-quality annotations, simulations and multilingual support, helping AI agents understand and navigate real-world business processes. Shared infrastructure for AI builders Uber is making its internal platforms available to enterprise clients. These are the same platforms Uber uses to manage large-scale annotation projects and validate AI outputs, and includes AI-powered smart onboarding, quality checks, smart task decomposition and routing, and feedback loops to ensure accuracy and efficiency. Building the human intelligence layer for AI With these advancements, Uber AI Solutions is poised to become the human intelligence layer for AI development worldwide—combining software, operational expertise, and its massive global scale. Looking ahead, Uber is building an AI-powered interface that will allow clients to simply describe their data needs in plain language, letting the platform handle setup, task assignment, workflow optimization, and quality management for scalable AI training. About Uber Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 61 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
Business Wire
an hour ago
- Business Wire
Nexstar Media Group Shareholders Approve All Proposals at 2025 Annual Shareholder Meeting
IRVING, Texas--(BUSINESS WIRE)--Nexstar Media Group, Inc. (NASDAQ: NXST) ('Nexstar' or 'the Company') announced that at its 2025 Annual Shareholders' Meeting shareholders voted to: Nexstar Media Group announced that at its 2025 annual meeting shareholders approved all proposals, including executive compensation. Share Elect all nominees to Nexstar's Board of Directors; Affirm the executive compensation of the Company's Named Executive Officers, with approximately 95.5% shareholder support; and, Ratify the selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the year ending December 31, 2025. The official voting results for each proposal voted on by shareholders is being filed with the Securities and Exchange Commission at About Nexstar Media Group, Inc. Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms, including more than 316,000 hours of programming produced annually by its business units. Nexstar owns America's largest local television broadcasting group comprised of top network affiliates, with more than 200 owned or partner stations in 116 U.S. markets reaching 220 million people. Nexstar's national television properties include The CW, America's fifth major broadcast network, NewsNation, our national news network providing 'News for All Americans,' popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The Company's portfolio of digital assets, including its local TV station websites, The Hill and are collectively a Top 10 U.S. digital news and information property. For more information, please visit
