Reinsurance News
CCR Re
CCR Re well placed to benefit from new market environment in 2023, says CEO
30th March 2023
Bertrand Labilloy, Chairman & CEO of CCR Re, has suggested the firm is well placed to benefit from the new market environment in 2023 as it managed to "deliver a clean sheet in a turmoiled market" in 2022. The French state-owned reinsurer reported a total premium income of €987m in ... Read the full article
CCR Re sees GWP rise 17% despite turbulent market
29th March 2023
CCR Re, the French state-owned reinsurer, has reported a total premium income of €987m in 2022, up 17% compared with 2021. The firm states that it continued to pursue the profitable growth trajectory defined by the board of directors, in a market "hit by a combination of major shocks." CCR Re’s net ... Read the full article
AM Best places CCR RE ratings under review amid sale talks
20th February 2023
Rating agency AM Best has decided to place the ratings of French state-owned reinsurer CCR RE under review, after parent company CCR said it had entered into negotiations to transfer control of the business. If agreed, a sale of approximately 70% of CCR RE to a consortium made up of ... Read the full article
S&P places CCR RE ratings on watch positive on potential acquisition
14th February 2023
Following the news of CCR RE potential acquisition by a consortium of French mutuals, S&P Global Ratings has placed its 'A-' issuer credit and financial strength ratings on CCR RE, and its issue ratings on the reinsurer's debt, on CreditWatch with positive implications. On February 8, 2023, French-based Caisse Centrale ... Read the full article
CCR looks to transfer control of CCR RE and increase its capital
8th February 2023
CCR has entered into exclusive negotiations with the consortium made up of SAMBTP and MACSF to transfer control of CCR RE, the French state-owned reinsurer, and increase its capital by €200 million. According to the firm’s statement, under the proposed transaction, CCR would initially dispose of approximately 70% of CCR RE’s ... Read the full article
CCR Re launches 157 Re sidecar for 2023 with 40% more capital raised
18th January 2023
CCR Re, the French state-owned reinsurer, has sponsored the fifth renewal of its 157 Re 23 sidecar vehicle, increasing the capital raised on the previous year despite an extremely tight retrocession marketplace. According to the reinsurer, it succeeded in increasing the capital raised by over 40% when compared to 2022, ... Read the full article
S&P upgrades CCR Re ratings as volatility reduced
17th January 2023
S&P Global Ratings has decided to upgrade the ratings of CCR Re, based on the expectation that the reinsurer will be able to structurally reduce the volatility of its technical results and overall profitability over the coming years. The rating agency has revised the stand-alone credit profile of CCR Re to ... Read the full article
“It was a different world in 1975, but reinsurance is still fascinating and important”: Patrick Delalleau, CCR Re
22nd November 2022
The insurance and reinsurance world has evolved significantly since Patrick Delalleau entered the space more than 45 years ago. In his current role, Patrick Delalleau serves as a Senior Advisor at French state-run reinsurer, CCR Re, a position he took on in 2019 following more than ten years as the company’s ... Read the full article
CCR passes new resolutions to drive CCR Re growth
21st September 2022
The board of directors at CCR has passed a set of resolutions to drive growth at its reinsurance subsidiary CCR Re. The firm said in a statement that these resolutions are in line with the company’s strategic plan that it introduced last year. It said that these would also be to ... Read the full article
CCR Re maintains non-life profitability as GWP rises 15% in H1 2022
9th September 2022
CCR Re, the French state-owned reinsurer, has reported a 15% year-on-year rise in gross written premiums (GWP) for the first half of 2022, as the firm achieved profitable and diversified growth. The rise in premiums to €764 million compares with the €665 million recorded in the first half of 2021. At ... Read the full article
CCR Re income more than doubles, combined ratio improves
17th March 2022
French state-owned reinsurer CCR Re has reported that its net income more than double over the course of 2021 reaching €41 million, versus €18 million in the previous year. This performance contributed to a similar 2x increase in income at parent firm CCR, which reported net income of €134 million for ... Read the full article
CCR Re joins UN Principles for Responsible Investment
8th February 2022
French state-owned reinsurer CCR Re has emphasised its commitment to responsible and sustainable finance by joining the Principles for Responsible Investment (PRI) as defined and supported by the United Nations (UN). The reinsurer provides cover for natural catastrophe risks, and as such, has been integrating extra-financial criteria relating to environmental impact, ... Read the full article
CCR Re raises 22% more capital at 157 Re reinsurance sidecar renewal
12th January 2022
French state-owned reinsurer, CCR Re, has announced the successful renewal of its collateralised reinsurance sidecar, 157 Re, for 2022 despite a constrained retrocession market. This is the fourth time CCR Re has sponsored its 157 Re sidecar and this year, the company succeeded in raising 22% more capital than in ... Read the full article
CCR Re names Thi Hoang Anh Nguyen as underwriter, Asia
12th January 2022
CCR Re has appointed Thi Hoang Anh Nguyen as an underwriter for Asia. She will report to John Conan, Head of non-life underwriting, Asia & Africa. Nguyen started her career as an underwriter for Vietnam National Aviation Insurance Corporation in Hanoi before joining Willis Towers Watson as accounts manager. She also previously worked ... Read the full article
CCR Re adds Everest Re’s Robertson to Canadian P&C team
8th November 2021
French public-sector reinsurer CCR Re has appointed Jessica Robertson to its Canadian P&C team as Senior Treaty Underwriter. Robertson joins from Everest Re, where she was with the company for over 13 years. She initially held the role of Director Actuarial for 11 years, and was later promoted to Vice President, Data ... Read the full article
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