In the first half of 2023, CCR Re’s turnover has reached €907 million, an increase of 19% compared to the first half of 2022.
The profitability of non-life business has improved with a combined ratio of 94.6%, down by more than 3 points in comparison to the first half of 2022, despite the effects of the earthquake in Turkey, the floods in Italy in May and the violent storms experienced in France in June. The life margin was 2.2%, slightly down on the first half of 2022, due to a strengthening of reserves.
Following CCR Re’s empowerment which was announced in the first half of 2023, S&P and AM Best confirmed CCR Re’s rating as: “A with a stable perspective.”
Bertrand Labilloy, CCR Re’s CEO, stated: “The results as of June 2023 reflect the quality of our renewals that took place 1st of January and 1st of April. They reflect the relevance of our underwriting policy which has remained unchanged. CCR Re continues on its profitable growth path with a 20% increase in its capital base.”
Disclaimer: The figures and information presented are in French GAAP, taken from the management systems and have not been reviewed by the auditors. Premium and claim estimates have been obtained on the basis of available information to establish the financial position as at 30th June 2023. The press release may contain forward-looking statements with regards to CCR Re based on data and assumptions made in a given economic, financial, competitive and regulatory context. Although
CCR Re believes that all of these statements are based on reasonable assumptions, they are not guarantees of CCR Re’s future performance. They involve risks and uncertainties and, accordingly, actual results may differ significantly from those anticipated in the forward-looking statements. CCR Re undertakes no obligation to publicly update or revise any statement. This press release and the 2022 annual results presentation are available at www.ccr-re.com
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