CCR and CCR Re: half-year results 2020

CCR-ReThe Caisse Centrale de Réassurance (CCR) has recorded a 15% increase in turnover in H1 2020. The latter went from 929 million EUR (1.05 billion USD) as at 30 June 2019 to 1.068 billion EUR (1.2 billion USD) a year later. This growth was mainly the result of the government's support program for SMEs (small and medium-sized enterprises) and ETIs (mid-sized companies).

With a growth rate of 0.5%, the natural disasters activity accounts for 82% of the portfolio. The half-year net result totalled 28 million EUR (31.4 million USD). The net incurred losses increased by 1.6% to reach 357 million EUR (401.5 million USD).

CCR Re, CCR's reinsurance subsidiary, has reported a total of 545 million EUR (612.9 million USD) of gross written premiums, an increase of 23% compared to the 441 million EUR (501.2 million USD) recorded during H1 2019.

CCR Re's combined ratio has decreased by 7 points to be set at 105.2%. The net result increased by 70.5% compared to 2019 to reach 29 million EUR (32.6 million USD).

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