AM Best [4] confirms CCR's financial strength ratings of "A+" (Superior) and "A" (Excellent) from CCR Re. The outlook is stable. The long-term credit ratings are respectively "aa" for CCR and "a" for CCR Re.
The rating agency said these ratings go back to the strength of the two companies' balance sheets, a prudent provisioning policy and an effective growth strategy since 2016. The diversified investment portfolio and the solvency are also taken into account by AM Best.
CCR's favourable business profile is based on the company's role in the French public reinsurance system. It is the leading reinsurer of natural catastrophe risks underwritten in France, with an estimated market share of around 90%.
CCR RE has an established presence in the international reinsurance market with a diversified underwriting portfolio. The company also benefits from the long-established CCR brand.