Results 2017 of CCR and its subsidiary CCR Re
The Caisse Centrale de Réassurance (CCR) posted, at the end of 2017, a net profit of 45 million EUR (53.91 million USD), down by 68% compared to 2016. This decline is due to the increase in the loss experience recorded during 2017.
The turnover for the year under review amounted to 1.29 billion EUR (1.55 billion USD) against 1.32 billion EUR (1.39 billion USD) in 2016. The non-life combined ratio deteriorated by 3.2 points at 93.1%.
Despite this declining results, the CCR is able to withstand a major loss of 4.5 billion EUR (5.39 billion USD) without resorting to the guarantee of the State.
As for CCR Re, the private reinsurance subsidiary of the CCR, it reported a pre-tax net result of 26 million EUR (31.15 million USD) during its first year of operation. Its turnover amounted to 396 million EUR (474.42 million USD). Created in late 2016, CCR Re officially started its activities in January 1, 2017.
More news on:
