TUNIS RE QUARTERLY ACTIVITY INDICATORS
First quarter 2022
PREMIUMS
AcceptanceRetrocessionACQUISITION EXPENSES
TND
PLUGGED | TM1 2021 | TM1 2022 | As of 03/31/2022 | As of 03/31/2021 | Annual 2021 |
Fire Miscellaneous Accidents and Risks Technical Transport Risks Aviation Total non-life Life Activity Retakaful TOTAL GENERAL | 25,742,331 7,389,406 6,607,781 4,064,856 298,651 44 103 025 2,044,009 3,823,235 49,970,268 | 27,564,868 8,882,905 5,725,076 5,699,077 529 196 48 401 122 2,133,057 4,018,909 54,553,088 | 25,742,331 7,389,406 6,607,781 4,064,856 298,651 44 103 025 2,044,009 3,823,235 49,970,268 | 27,564,868 8,882,905 5,725,076 5,699,077 529 196 48 401 122 2,133,057 4,018,909 54,553,088 | 58,326,973 26 801 851 21,342,786 23,300,557 9,025,907 138 798 073 9,397,916 14,989,454 163 185 444 |
Fire Miscellaneous Accidents and Risks Technical Transport Risks Aviation Total non-life Life Activity Retakaful TOTAL GENERAL | 6,762,622 731,385 2,827,041 442 179 35 198 10,798,424 71,701 524 519 11,394,645 | 7,273,865 895 233 1 897 912 803 045 238 158 11 108 212 49,842 288,341 11,446,395 | 6,762,622 731,385 2,827,041 442 179 35 198 10,798,424 71,701 524 519 11,394,645 | 7,273,865 895 233 1 897 912 803 045 238 158 11 108 212 49,842 288,341 11,446,395 | 16,509,376 1,608,899 10,655,872 7,358,158 7,586,148 43,718,454 281 914 2,415,777 46,416,145 |
N AND | 38,575,623 | 43,106,693 | 38,575,623 | 43,106,693 | 116,769,299 |
TND
Acceptance
PLUGGED | TM1 2021 | TM1 2022 | As of 03/31/2022 | As of 03/31/2021 | Annual 2021 |
Fire Miscellaneous Accidents and Risks Technical Transport Risks Aviation Total non-life Life Activity Retakaful TOTAL GENERAL | 6,434,705 1,680,867 2,250,884 1,340,504 73,648 11,780,608 1,218,772 1,479,793 14,479,173 | 7,115,245 2,101,817 2,255,618 1,683,499 94,286 13,250,467 1,739,606 1,220,987 16,211,060 | 6,434,705 1,680,867 2,250,884 1,340,504 73,648 11,780,608 1,218,772 1,479,793 14,479,173 | 7,115,245 2,101,817 2,255,618 1,683,499 94,286 13,250,467 1,739,606 1,220,987 16,211,060 | 15,880,603 3,776,886 6,082,242 5,097,688 253,528 31,090,947 3,065,799 4,104,246 38,260,992 |
RetrocessionCLAIMS EXPENSESAcceptanceRetrocessionFINANCIAL PRODUCTS
Fire Miscellaneous Accidents and Risks Technical Transport Risks Aviation Total non-life Life Activity Retakaful TOTAL GENERAL | 4,818,276 116,487 1,421,374 148,759 17,991 6,522,888 0 797,442 7,320,330 | 1,102,434 449,963 693 670 31,158 16,154 2,293,379 0 3,593 2,296,972 | 4,818,276 116,487 1,421,374 148,759 17,991 6,522,888 0 797,442 7,320,330 | 1,102,434 449,963 693 670 31,158 16,154 2,293,379 0 3,593 2,296,972 | 5,938,490 251 909 3,012,531 178,871 38,969 9,420,770 0 1,139,158 10,559,928 |
N AND | 7,158,843 | 13,914,088 | 7,158,843 | 13,914,088 | 27,701,064 |
TND
PLUGGED | TM1 2021 | TM1 2022 | As of 03/31/2022 | As of 03/31/2021 | Annual 2021 |
Fire Miscellaneous Accidents and Risks Technical Transport Risks Aviation Total non-life Life Activity Retakaful TOTAL GENERAL | 8,743,075 2,908,987 2,483,748 1 861 911 384,075 16,381,796 102,539 860 703 17,345,038 | 9,605,482 3,214,054 1,753,480 1,927,898 272,804 16,773,716 351,776 1,382,561 18,508,054 | 8,743,075 2,908,987 2,483,748 1 861 911 384,075 16,381,796 102,539 860 703 17,345,038 | 9,605,482 3,214,054 1,753,480 1,927,898 272,804 16,773,716 351,776 1,382,561 18,508,054 | 23,911,185 16,465,750 11,526,127 10,989,201 1,352,566 64,244,828 5,730,264 7,307,705 77 282 797 |
Fire Miscellaneous Accidents and Risks Technical Transport Risks Aviation Total non-life Life Activity Retakaful TOTAL GENERAL | 7,563,746 292 292 747 188 1,021,810 130,578 9,755,614 0 483 152 10,238,766 | 4,483,051 607 777 407 607 1,223,810 233,686 6,955,931 0 23,582 6,979,512 | 7,563,746 292 292 747 188 1,021,810 130,578 9,755,614 0 483 152 10,238,766 | 4,483,051 607 777 407 607 1,223,810 233,686 6,955,931 0 23,582 6,979,512 | 9,972,869 1,213,449 6,228,413 1,523,006 676,963 19,614,699 0 270,030 19,884,729 |
N AND | 7,106,272 | 11,528,542 | 7,106,272 | 11,528,542 | 57,398,068 |
TND
TM1 2021 | TM1 2022 | As of 03/31/2022 | As of 03/31/2021 | Annual 2021 | |
Non-Retakaful Financial Products | 6,612,408 | 5,548,008 | 6,612,408 | 5,548,008 | 22,906,458 |
Retakaful Financial Products | 131,483 | 201 721 | 131,483 | 201 721 | 519,300 |
GRAND TOTAL | 6,743,891 | 5,749,730 | 6,743,891 | 5,749,730 | 23,425,758 |
Comments on the Activity of the Tunisian Society of
“Tunis Re” Reinsurance As of March 31, 2022
Remark :
The figures are updated as late data is processed for all headings (settled claims, reported claims, ceded premiums, commissions).
The indicators as of 12/31/2021 relate to the 2021 financial year remain provisional until approval of the Financial Statements by the Ordinary General Meeting.
The highlights that marked the activity in the first quarter of 2022.
54.553 MTD, this increase is the combined result of an increase in the volume of business subscribed as well as a good diversification at the level of our portfolio. Thus we achieved a progress of 6% on the domestic market against 13% at the international market level.
Compared to the objectives set for the year 2022, the rate of achievement of turnover in the first quarter of 2022 reached 34%;
An increase in the retained premium of 12%going from 49.970 MTD as of March 31, 2021 to 54.553 MTD at the end of the first quarter of 2022, thus generating a retention rate of 79%.
A 6% increase in the claims charge, compared to March 2021, explained on the one hand by the increase in production at the end of March 2022. The share of retrocession in the gross charge is 38%.
Financial products show a drop of 15% compared to March 31, 2021 to reach 5.750 MTD, explained by the recognition of a capital gain on the sale of financial assets carried out during the first quarter of 2021.
These products include accrued and unmatured interest (for the two financial years 2021 and 2022). They do not take account of interest on deposits with cedants.
Progress in the project to implement IFRS/IAS standards:
Tunis Re continues to move forward actively while respecting the regulatory deadlines allocated to the work and preparations for the implementation of IFRS standards,
At the end of the first quarter of 2022, the finalized phases concern the setting of choices, the simulation of impacts and the development of a project implementation plan;
Today, the restatements of 2020 data under IFRS have been finalized and show an overall positive impact. This reprocessing work was based on:
– The different options chosen;
– Valuation work carried out by real estate experts and those of the investment portfolio.
– Segmentation work;
– The liability adequacy test, which highlights a comfortable assessment.
The production of the financial statements for the 2021 financial year under IFRS will begin during the second quarter of 2022.
At the same time, Tunis Re is preparing for the transition to the IFRS17 standard scheduled for 2023, a diagnostic report is being prepared.