France
Caisse Centrale de Réassurance (CCR)
Caisse Centrale de Réassurance (CCR)
France Description
As a public reinsurer, CCR is mandated to operate in the public interest. As such, CCR provides insurers operating in France with coverage of exceptional risks.
Wholly-owned by the French State, the Company conducts, for certain activities, missions essential to the public authorities.
State-guaranteed Reinsurance activities cover:
• The reinsurance of natural disaster risks under the compensation scheme,
• The reinsurance of attacks and terrorist acts,
CCR is responsible for the accounting and financial management of public funds on behalf of the State.
CCR provides:
• long-term reinsurance solutions, e.g. coverage against natural catastrophes,
• short-term reinsurance solutions whenever required, e.g. public-sector provision of credit reinsurance during the 2008 financial crisis.
An agreement defines the general interest missions delegated to CCR by the State: the reinsurance of certain extreme risks, the data collection and modeling of risks and the management of public funds. The agreement also stipulates the conditions for the achievement of these missions, in particular the reinsurance of natural disasters based on the principle of national solidarity. Lastly, it sets the price and lays out the terms of the State’s guarantee by which CCR benefits for the operation of its public reinsurance activities.
France News and Events
News and Events
26 March 2024
In 2023, CCR experienced a contrasting year in a context of once again exceptional disasters, particularly in Hauts-de-France.
The sale of the majority of CCR Re's capital in July 2023 led to the appointment of a new management team for CCR. The company served the general interest by enlightening public authorities on the shrinkage of clay soils, the insurability of climate risks and the insurability of local communities.
26 January 2024
At the beginning of January 2024, the inhabitants of certain departments in the Hauts-de-France region were hit by another series of exceptional floods.
CCR, as a public reinsurer, has used its modelling chain to update the cost of these floods for the insurance market, within the framework of the natural catastrophe compensation scheme.
14 December 2023
Quelle assurabilité des risques extrêmes et émergents en France ?
Alors que l’année 2023 a de nouveau été marquée par une succession de phénomènes naturels extrêmes (tremblement de terre, inondations, sécheresse…), CCR a remis ce jour au ministre de l’Économie, des Finances et de la Souveraineté́ industrielle et numérique, son Rapport annuel qui fait le bilan et trace les perspectives de l’assurabilité des risques extrêmes et émergents en France.