France: CCR creates a subsidiary dedicated to open market reinsurance activities

As of December 31, 2016, all the traditional activities of the Caisse Centrale de Reassurance (CCR) will be transferred to a new subsidiary called CCR Re. The parent company, the current CCR will now focus on natural catastrophes insurance which is covered by the State guarantee.

Pending regulatory approval, the new entity has already obtained an A- rating with stable outlook by ratings agency Standard & Poor's.

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