Rising profits for the Caisse Centrale de Réassurance (CCR) in 2011

The Caisse Centrale de Réassurance (CCR) has posted a 7% increase of its 2011 profits which amount to 119.4 million EUR (154.6 USD). It is thanks to the reinsurance activity guaranteed by the State that CCR managed to obtain such results. State-guaranteed operations, which cover natural catastrophes happening in France, reported net profits worth 234 million EUR (303 million USD). Following Xinthya storm and Var floods, CCR sustained losses amounting to 85 million EUR (112 million USD) in this segment in 2010. The 2011 profits enabled CCR to rebuild its provisions.