French public-sector reinsurer CCR Re has reported gross premiums of €665 million during the first half of 2021, a 14% increase from the prior year period.
Owing to the firm’s risk management and provisioning policy, underwriting profitability was unaffected by the consequences of COVID-claims covered in 2020.
Underwriting profitability was also mostly unaffected by the large catastrophes covered over the period.
The results recorded are described as in-line with the company’s Streamline development plan, which runs from 2020 to 2022.
CCR Re’s 97% combined ratio combines with a Life margin rate which reached 5%; the solvency ratio of 200% is considered well within the optimal solvency range.
“CCR Re’s performance in the first half of 2021 supports the company’s objectives of profitable growth,” said Bertrand Labilloy, Chairman and CEO of CCR Re.
“The Streamline plan is well on track. We are in a strong position to meet the future expectations of our customers and partners.”
