Official start of CCR Re's activities
The new subsidiary of the Caisse Centrale de Réassurance (CCR) began operations on 1 January 2017.
In early 2016, the chairman of the parent company (CCR) announced the transfer of the so-called market reinsurance activities to a new subsidiary named CCR Re, which inherited a business portfolio estimated at 440 million EUR (463.6 million USD) and a shareholder's equity of 760 million EUR (801 million USD). It also has access to more than 60 markets spread over several continents and enjoys an A and A- ratings with stable outlooks respectively awarded by A.M. Best and Standard & Poor's.
The CCR, a public limited company set up in 1946, is wholly owned by the French State. With the guarantee of the State, it proposes covers in specific classes of business such as natural catastrophes in particular. It also manages several public funds on behalf of the State. These activities will continue to be managed by the CCR.
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