Tunis Re

What Tunis Re does

Tunis Re (Société Tunisienne de Réassurance) is a publicly listed reinsurance company headquartered at 12 Avenue du Japon, Tunis, Tunisia, founded in 1981 and trading on the Bourse de Tunis under ticker TRE (stock price 13.20 TND as of June 22, 2026). The firm provides reinsurance capacity to primary insurance companies across Tunisia, MENA, Africa, and Asia, with a geographic business mix of 42% Tunisia, 23% Asia, 18% Arab Countries, 13% Africa, and 4% Maghreb. Its stated positioning is "reference reinsurer in Africa and the MENA region," supported by Fitch national-scale rating AA(tun) with stable outlook (May 2026) and AM Best B (Fair) with stable outlook (revised from negative in June 2025). The company was the first Tunisian insurer to obtain LEI certification and holds MSI 20000 certification.

The firm's core product is underwriting (Souscription) — accepting ceded risks from primary insurers across property, casualty, life, and other lines in exchange for premiums. Adjacent service lines include specialized reinsurance pools and large industrial project coverage (with the February 2026 PV Pool workshop exemplifying entry into photovoltaic/renewable-energy risk), industry conferences and seminars aimed at ceding insurers, and knowledge dissemination through newsletters (most recent N°56, May 2026) and thematic reports on the North African reinsurance market. The technical core is traditional reinsurance underwriting and risk management, with no disclosed proprietary technology platform or digital distribution layer.

Tunis Re's revenue model is subscription/recurring premiums collected from ceding insurers, with contract-by-contract pricing that is not publicly disclosed. Go-to-market is executed through direct B2B negotiations with primary insurers across the MENA and African footprint, supplemented by participation in specialized pools for risks such as photovoltaic installations. The company employs 101–250 people, reported FY revenue of 243.176 Million TND (Chiffre d'Affaires), a combined ratio of 83.7%, net income of 26.980 Million TND, ROE of 11%, and shareholders' equity of 275.534 Million TND. Quarterly indicators continue to be published, with the most recent Q1 2026 release dated April 21, 2026.

Name

Tunis Re

Legal name

Société Tunisienne de Réassurance

Website

https://tunisre.com.tn

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

101–250 employees

Short description

Tunis Re is a publicly listed Tunisian reinsurer providing risk transfer and reinsurance capacity to primary insurance companies across Tunisia, MENA, Africa, and Asia, operating as the dominant domestic reinsurer with Fitch AA(tun) and AM Best B (Fair) ratings.

Ownership category

akta.pro rank

Product category

Reinsurance Services

NAICS

Reinsurance Carriers (524130), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Life Insurance (6311)

akta.pro primary industry

Casualty Facultative Reinsurance (FSAOAFAB)

akta.pro secondary industries

Property Facultative Reinsurance (FSAOAFAA), Facultative Catastrophe Reinsurance (FSAOAFAC)

Keywords

• Reinsurance underwriting
• Reinsurance services
• Risk transfer solutions
• Specialty insurance pools
• Reinsurance capacity

Headquarters

HQ city

Tunis

HQ country

Tunisia

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Reinsurance Premiums: Tunis Re operates as a reinsurer providing reinsurance coverage to primary insurance companies across Tunisia, Africa, and the MENA region. The company collects premiums from ceding insurers and pays claims when losses occur.

Distribution channels2 records

Marketing channels4 records

Core offering

Tunis Re is a public reinsurer that provides reinsurance coverage to primary insurance companies across Tunisia, Africa, and the MENA region. The company underwrites property, casualty, life, and other insurance lines by accepting premiums ceded from primary insurers and paying claims when losses occur, while also participating in specialized reinsurance pools (such as the PV photovoltaic pool project) and large industrial project coverage. Supporting services include industry conferences/seminars, newsletters, and annual reports for the regional insurance market.

Product overview

Tunis Re operates as a unified reinsurance services platform rather than a modular software product. The company offers a consolidated portfolio of reinsurance services centered on underwriting (Souscription), supplemented by professional development through conferences and seminars, collaborative risk-sharing via pools and large projects, and knowledge dissemination through publications and annual reports. This integrated approach positions Tunis Re as a comprehensive reinsurance partner providing both direct underwriting services and adjacent advisory and knowledge-sharing capabilities to the African and MENA insurance markets.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Combined ratio of 83.7% demonstrates strong underwriting profitability

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Hannover Re: Major global reinsurer with strong African and emerging-market presence via Hannover Re Africa. Comparable as a competitor for primary insurer treaties across the same geographies Tunis Re serves.
• Swiss Re: One of the world's two largest reinsurers, providing P&C, life, and specialty reinsurance globally. Comparable as a direct competitor for large treaties ceded by Tunis Re's primary insurer clients and as benchmark for pricing and capacity.
• Munich Re: Global reinsurance leader with broad multi-line and multi-region capacity including Africa and MENA. Comparable as the dominant competitive force in the same treaty-reinsurance markets Tunis Re targets.

Direct peers

• Caisse Centrale de Réassurance (CCR): French state-backed reinsurer with strong Maghreb and North Africa historical relationships. Comparable to Tunis Re as a regional reinsurer serving Francophone African and Mediterranean primary insurers with similar treaty structures.
• African Reinsurance Corporation (Africa Re): Pan-African reinsurer headquartered in Nigeria/Lagos, the dominant African reinsurer with multilateral shareholding. Directly comparable to Tunis Re as a regional reinsurance carrier serving African primary insurers across property, casualty, and life lines.

Others

• SCOR:

Regional players

• Emirates Reinsurance Limited: UAE-based reinsurer focused on MENA and emerging-market primary insurers. Comparable regional reinsurance carrier with similar line-of-business diversity and target geographies overlapping Tunis Re's Arab/Asia footprint.
• Saudi Reinsurance Company (Saudi Re): Saudi Arabia-based reinsurer serving MENA markets with multi-line capacity. Comparable in regional scope, line-of-business mix (property/casualty/life), and target primary-insurer client base across Arab countries.
• Trust International Insurance and Reinsurance Company (Bahrain): Bahrain-based MENA reinsurer offering treaty and facultative reinsurance across the Arab world. Comparable to Tunis Re in regional reinsurance positioning, with overlapping client bases in Arab countries and Africa.

Emerging players

• Malaysian Reinsurance Berhad (Malaysian Re): Malaysia-based reinsurer expanding into MENA and Africa with multi-line capacity and retakaful expertise. Comparable as a smaller emerging-market reinsurer pursuing similar geographic and product diversification strategies as Tunis Re.

Market position

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tunis Re