Strong growth in a buoyant environment
On 2nd April 2024, the CCR Re Board of Directors met to approve the accounts for the 2023 financial year.
Patrick Bernasconi, President of the Board, issued the following statement:
“The 2023 CCR Re results are perfectly aligned with the business plan set up by the new Board of Directors. I would like to congratulate the CCR Re teams for yet another achievement as well as CCR Re’s clients and partners for their loyalty.”
Bertrand Labilloy, Chief Executive Officer, added:
“In 2023, CCR Re went well past the one billion euros sales milestone. Continued profitable growth confirms the relevance of our strategy, supported by last year’s capital increase. CCR Re now has all the required resources to become a key player within the reinsurance market in Paris, in line with its ambitions.”
Key events
- Pricing and contractual conditions have improved for reinsurers in all geographical areas and in all Non-Life sectors.
- The inflationary context has continued to weigh on the cost of claims and has been evaluated prudently.
- Cat claims were particularly high within the CCR Re perimeter, due to the high frequency of large-scale secondary risks.
- Financial markets have benefited from a buoyant environment: recession has been avoided, margins have been upheld and disinflation has arrived.
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