Both a public-sector reinsurer and a reinsurer operating in the life, non-life and specialty lines, CCR closes the year 2018 with a turnover of 1.372 billion EUR (1.569 billion USD), increasing by 6.4% over one year.
The result hits 132 million EUR (151 million USD) compared to 45 million EUR (54 million USD) in 2017.
The CCR-public Reinsurer, records 908 million EUR (1.038 milliard USD) of premiums in 2018, increasing by 0.33% compared to 2017. The company was greatly impacted by the occurrence of several natural disasters in France; among which drought in the North-East of France, floods of the Seine and the Marne rivers, windstorm Eleanor, floodings in the West and the Languedoc… The cost of these claims has reached 872 million EUR (997 million USD) thus causing the aggravation of the combined ratio from 6.5 points to 95.1%.
Despite the unsatisfying results of its combined ratio, CCR-public Reinsurer records a net result increasing by 445% which hit 33 million EUR (39 million USD) in 2017 to reach 147 million EUR (168 million USD) in 2018.
The shareholder’s equity are slightly increasing by 1.9% in 2018 and reached 4301 million EUR (4 919 million USD). CCR RE, a subsidiary of the group, records a turnover of 464 million EUR (530 million USD) highly increasing by 17% over one year. Such a result, boosting the usual reinsurance activity, comes after a decline of 11% of the premium volume in 2016-2017.
The combined ratio is improving reaching 99.4% in 2018 compared to 104.9% in 2017. The net result which recorded 17 million EUR (20 million USD) in 2017, more than doubled in 2018, reaching 35 million EUR (40 million USD).
Read also | CCR Re launches 157 Re, the first sidecar domiciled in France [4]