CCR group: 2020’s results

CCR groupThe CCR group (Caisse Centrale de Réassurance) ended the year 2020 with a turnover of 1.866 billion EUR (2.291 billion USD) compared to 1.507 billion EUR (1.687 billion USD) in 2019, that is an increase of 23.8%.

The group's net result amounted to 90 million EUR (110.542 million USD) in 2020, compared to 104 million EUR (116.466 million USD) in 2019, thus degrading by 13.4%.

In 2020, CCR- Réassurances publiques recorded 1.215 billion EUR (1.492 billion USD) of premiums, that is a 28.5% growth over one year.

The natural disasters caused a significant increase in the company’s loss experience. The latter reached 775 million EUR (951 million USD) in 2020.

The two most notable disasters were the drought and the floods that took place after the storm Alex in October 2020.

The combined ratio degraded by 1.1 point to be set at 97.4%. CCR- Réassurances publiques’ net profit stood at 61 million EUR (74.92 million USD) in 2020, thus degrading by 8.9% compared to 2019.

CCR Re, CCR's private reinsurance subsidiary, recorded 649 million EUR (797.131 million USD) of gross written premiums, which represents a 16% increase compared to 31 December 2019.

The combined ratio, having been impacted by both the Covid-19 pandemic and the Beirut port explosion, decreased by 5.1 points and was set at 98.1% in 2019 compared to 103.2% in 2020.

The net result was established at 18 million EUR (22.1 million USD), compared to 35 million EUR (39.19 million USD) in 2019, thus decreasing by 48.5%.

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