Solid technical results

Q4 2015 was in line with the achievements of 2015. The net acceptances increased by 5.7% to TND53.850M. The increase was driven mainly by the life business (+21.3% to TND5.083M). However, the main activity is the non life (representing 81.6% of net revenues in 2015) grew by only 1.5% to TND44.114M (excluding retakaful), where the decrease of the technical risk (by -17.0%) has weighed on the growth in this segment. Tunis Ré’s retention rate has improved by 403 bp to 56.2%.