Reinsurance News
CCR Re
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
Current M&A trends benefit mid-sized players like CCR Re, says CEO Labilloy
15th November 2018
Current mergers and acquisitions (M&A) trends in the re/insurance industry are creating more space for pure reinsurers and medium players like CCR Re to offer improved services to clients, according to Bertrand Labilloy, Chief Executive Officer (CEO) of CCR, the state-back French reinsurer. Speaking in an interview with Reinsurance News, Labilloy ... Read the full article
CCR Re makes series of senior appointments
10th September 2018
French reinsurance firm CCR Re has made a series of new appointments, including the promotions of Jérôme Isenbart to the position of Chief Risk & Actuarial Officer and John Conan to the role of Senior Vice President, Head of Underwriting Treaties Asia. The company said that Isenbart will continue to fulfil ... Read the full article
CCR’s profit falls following higher 2017 catastrophe losses
13th April 2018
CCR, a state-backed reinsurer that covers the French insurance market against natural disasters, has published its 2017 results, revealing a challenging year for the company that saw its net profit fall by 68% due to an exceptional tax expense, exacerbated by insured losses of €2.04 billion. Insured losses were up from €1.10 ... Read the full article
CCR signs agreement with French state underlining reinsurer’s role
1st March 2017
Reinsurer Caisse Centrale de Reassurance (CCR) and the State of France have entered into a new agreement to redefine CCR’s primary state delegated roles, essentially clarifying the role of the reinsurer. The agreement was signed by the Minister of the Economy and Finance, Michel Sapin, and the senior executives of CCR, ... Read the full article
CCR Re adds three to board of directors
24th January 2017
French reinsurance firm CCR Re has announced three new appointments to its Board of Directors, Patrick Cerceau, Charles Levi and Antoine Mantel. The board of CCR Re also consists of Pierre Blayau, a representative of CCR, Bertrand Labilloy, the reinsurers Chairman and Chief Executive Officer, and another director and member of ... Read the full article
CCR Re launches with portfolio transfer from parent
11th January 2017
French state-backed reinsurer Caisse Centrale de Reassurance (CCR) has opened the new year with a portfolio transfer from CCR to new reinsurance subsidiary CCR RE, a move expected to contribute a material amount of premium to CCR, says ratings agency A.M. Best. A.M. Best said the highly strategic portfolio transfer will ... Read the full article
CCR Re begins operations
9th January 2017
French reinsurer Caisse Centrale de Reassurance (CCR) today revealed that its state-backed subsidiary, CCR Re, is fully funded and commenced operations from the 1st of January, 2017. The subsidiary was established from January 1st with treaty renewals and the transfer of CCR’s open market portfolio. Chairman and Chief Executive Officer (CEO) of CCR ... Read the full article
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