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CCR Re

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

CCR dedicates 2019 net income to state-backed credit re/insurance scheme

1st May 2020

State-backed reinsurer CCR has reported net income of €67 million for 2019, all of which the firm has dedicated to the recently launched state-guaranteed COVID-19 reinsurance scheme designed to support the country's SMEs by covering credit insurance risks. At €67 million, net income declined from the €147 million reported a year ... Read the full article

CCR Re hires PartnerRe’s Bertrand Petras as Vice President

29th January 2020

French reinsurance firm CCR Re has announced the appointment of Bertrand Petras, formerly of PartnerRe, as Vice President. In his new role, Petras will be tasked with expanding the firm's Life & Person branches, covering countries in the MENA region. He joins the state-backed reinsurer from Bermuda-based reinsurer PartnerRe, where he most ... Read the full article

CCR Re sustains top line growth in H1, with ratings affirmed by AM Best

4th September 2019

CCR Re has reported that its gross written premiums increased by 16% to €441 million during the first half of 2019, which helped contribute to a stable net income of €17 million. The result builds on the momentum seen in 2018, when the company increased its top line by 17%, with ... Read the full article

EU General Court confirms legality of French Natural Disaster scheme

7th May 2019

The General Court of the European Union (EU) has backed the natural disaster reinsurance scheme operated by the state-backed re/insurer Caisse Centrale de Réassurance (CCR), as well as the guarantee granted to CCR by the state in this capacity. French reinsurance giant SCOR had in 2016 disputed that the state aid ... Read the full article

157 Re provides valuable diversification for the expanding CCR Re

30th April 2019

The establishment of the first French domiciled collateralised reinsurance sidecar vehicle by state-backed CCR Re, supports the reinsurer’s ambitions to expand and diversify its catastrophe portfolio, according to Bertrand Labilloy, CEO of CCR Re. Launched at the end of March, 2019, 157 Re will assume a 25% quota share of the ... Read the full article

CCR reports consolidated net income of €132 million for 2018

10th April 2019

State-backed reinsurer CCR group has reported premium income of €1.4 billion and consolidated net income of €132 million for the full-year 2018, despite the impacts of catastrophe events. The group's reinsurance arm, CCR Re, contributed €35 million to the consolidated net income, while CCR contributed €147 million. CCR Re maintained profitable growth ... Read the full article

CCR Re creates first France-domiciled reinsurance sidecar

28th March 2019

CCR Re has announced that it has set up the first reinsurance sidecar vehicle to be domiciled in France, called 157 Re. 157 Re will assume a 25% quota share of CCR Re’s worldwide property cat portfolio to provide the reinsurer with fully collateralised capacity to support its organic growth. CCR Re ... Read the full article

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