H1 results show French reinsurer CCR Re on track for strong growth
CCR Re, the French government-backed reinsurer, has confirmed that its first half of 2021 results were in line with its 'Streamline development plan', largely unaffected by the burden of last year's COVID-19 and catastrophe related claims.
In H1 2021, CCR Re recorded gross premiums of €665 million, an increase of 14 percent on the prior year period. Its combined ratio improved to 97 percent, the life margin rate reached 5 percent and the solvency ratio of 200 percent was well within the optimal solvency range.
The reinsurer stated that its underwriting profitability was unaffected by the consequences of claims covered in 2020, notably those related to COVID-19, and mostly unaffected by the large catastrophes covered over the period.
The results recorded in the first half were in line with CCR Re's Streamline development plan (2020-2022).
Bertrand Labilloy (pictured right), chairman and CEO of CCR Re, said: “ CCR Re’s performance in the first half of 2021 supports the company’s objectives of profitable growth. The Streamline plan is well on track. We are in a strong position to meet the future expectations of our customers and partners.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
