AM Best confirms the rating of the Compagnie Centrale de Réassurance

CCR AlgérieAM Best has confirmed the financial strength rating of B+ (good) and the long-term credit rating of bbb+ of the Compagnie Centrale de Réassurance (CCR Algeria). The outlook for both ratings is stable.

The rating reflects the financial strength of the Algerian reinsurer's balance sheet, its neutral business profile and its appropriate enterprise risk management.

According to the rating agency, the company's balance sheet is protected by a State guarantee covering business underwritten under the compulsory natural catastrophe insurance scheme.

AM Best also commends CCR's strong operational performance. Over the past five years (2016-2020), the average combined ratio stood at 83% and the return on equity (ROE) reached 13%.

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