Reinsurance News

CCR Re

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

CCR Re gross premium reaches €665mn in H1 2021

1st September 2021

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 ... Read the full article

COVID & Beirut explosion weigh on CCR Re’s results

12th April 2021

French state-owned reinsurer CCR Re has reported a 49% decrease in net income over 2020, as the impact of the COVID-19 pandemic and the Beirut explosion weighed heavily on its results for the year. The company reported net income of €18 million for 2020, down from €35 million in the previous ... Read the full article

CCR Re’s premium income jumps 12% at Jan 1 reinsurance renewals

16th March 2021

French state-owned reinsurer CCR Re has reported overall premium income growth of 12% to €50 million at the January 1st, 2021 reinsurance renewals, a period which represents roughly 70% of its annual premium income volume across both P&C and L&H reinsurance. The reinsurer explains that it underwrote roughly €500 million at ... Read the full article

CCR Re successfully renews 157 Re reinsurance sidecar for 2021

18th January 2021

French state-owned reinsurer CCR Re has announced the successful renewal of its 157 Re collateralised reinsurance sidecar for 2021 at an undisclosed size. With its third annual issuance, the sidecar has all of its assets invested in bonds issued by the European Bank for Reconstruction and Development (EBRD). According to CCR Re, ... Read the full article

CCR Re expands Underwriting and Services Division with two hires

28th October 2020

State-backed French reinsurer, CCR Re, has announced the additions of Yamilet Morote and Mehdi Tariq within its Underwriting and Services Division. Morote joins the company as Credit Underwriter Guarantor within the Specialties & Global Risks Department teams belonging to its Underwriting and Services Division. Since 2016, Morote has held the role of ... Read the full article

CCR’s premium income spikes; CCR Re’s combined ratio hits 105.2% in H1

9th September 2020

CCR Group, the state-backed French re/insurer, has reported net income of €28 million for the first-half of 2020, while premium income jumped 15%, year-on-year, to €1.068 billion. The insurer and reinsurer attributes the rise in premium income to the State-backed intercompany credit insurance scheme for SMEs launched as from April through ... Read the full article

CCR Re bolsters solvency with €300mn bond issue

9th July 2020

French reinsurance firm CCR Re has completed the placement of €300 million Tier 2 subordinated bonds in its first bond issuance. The bond was quickly placed with more than 150 investors, mainly based in France, Europe and Asia. CCR Re said the issue will support the development of its Streamline business plan ... Read the full article

S&P upgrades CCR Re despite potential COVID-19 impacts

8th May 2020

S&P Global Ratings has affirmed its 'AA' long-term insurer financial strength and issuer credit ratings on state-backed CCR in France, and raised its ratings on CCR Re to 'A' from 'A-', while the outlook for both companies is stable. Over the past two years, CCR Re has reported a steady improvement ... Read the full article