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 June 2023
In 2022, the Group achieved contrasting results and prepared for the majority sale of CCR Re. It served the public interest by providing information for discussions on drought (3DS decree) and the development of agricultural insurance. In its competitive activities, CCR Re strengthened its growth momentum despite a turbulent market.
20 June 2023
CCR publie la huitième édition de son bilan annuel des catastrophes naturelles en France.
Après une année d’accalmie en 2021, l’année 2022 a à nouveau été marquée par une sinistralité exceptionnelle, ce qui fait d’elle une sixième année déficitaire en sept ans. 2022 a en effet été impactée par une sécheresse d’ampleur inédite, qui, avec un coût estimé à 2,9 Md€ au 31 décembre 2022, s’avère être l’événement le plus coûteux depuis l’instauration du régime. Le montant des dommages assurés a été aggravé par les effets de l’inflation qui a atteint un niveau qui n’avait pas été observé depuis plusieurs décennies.