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Name | Symbol | Market | Type |
---|---|---|---|
CCR RE 2.875% until 15jul2040 | EU:CCRAA | Euronext | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Regulatory News:
On 2nd April 2024, the CCR Re (Paris:CCRAA) 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
French GAAP results
[Graphic omitted]
€ (million)
2022
2023
Gross Sales
987
1,186
Variation N/N-1 (%)
+17%
+20%
Cost Ratio
4.1%
4.3%
Life Margin Rate
3.6%
3.9%
Net Combined Ratio
98.7%
96.6%
Return on Investment
2.3%
2.4%
EBITAER
64
88
Net Income
42
56
Solvency Ratio (II)
205%
208%
All data is calculated according to French Gaap.
Cost Ratio: Ratio between non-recurring management fees net of investment expenses and net of taxes, on one hand, and, on the other hand, premiums gross of retrocession.
Life margin rate: ratio for the life business between the sum of the technical result and the interest on cash deposits, on one hand, and the total earned premiums net of retrocession on the other hand.
Net combined ratio: ratio for the non-life business between the net cost of claims excluding changes in the equalisation reserve, and expenses incurred net of investment expense (including commissions) on one hand, and net earned premiums on the other hand.
Constant exchange rate: the changes at constant exchange rate correspond to the comparison between the actual 2023 data converted at the exchange rate of 31st December 2022 and the 2022 data at the exchange rate of 31st December 2022.
Return on invested assets: ratio between net financial income, on the one hand, and outstanding investments at cost price on the other hand, excluding ceding deposits, operating property, and excluding subsidiaries.
EBITAER: Earnings Before Interest, Taxes, Amortization and Equalization Reserve. It also excludes exceptional income.
Notes :
This press release contains both historical information and forward-looking statements about CCR Re. Forward-looking statements relate mainly to future events, expectations, objectives, or performance. They have been prepared based on assumptions currently held by CCR Re. Although CCR Re considers these statements to be based on reasonable assumptions, they are not a guarantee for the future performance of CCR Re. They involve risks and uncertainties, and as such actual results may differ significantly from those anticipated in the forward-looking statements. CCR Re does not commit to releasing any updates or revisions of the forward-looking statements.
______________________
About CCR Re
CCR RE is an international reinsurer of a personable size with presence in 80 countries worldwide and operating in the traditional sectors of property damage and civil liability and life & health as well as certain specialised areas (credit, marine, aviation, spatial, agriculture).
CCR RE’s identity, organisation and economic model are testimony to its solidity and agility when it comes to client service. CCR RE makes the most of its committed and multicultural teams of experts. An ESG compliant company throughout its reinsurance and investment activities.
In 2023, CCR Re achieved gross sales of €1,186 million and net income of €56 million. Since July 2023, CCR Re has been majority-owned by SMABTP and MACSF, as well as CCR.
Read all the latest CCR Re news on our communication platforms:
https://www.linkedin.com/company/ccr-re/ https://www.ccr-re.com/en/home https://www.youtube.com/channel/UC4IT0jv5AJLHimJSLcX4GyA
View source version on businesswire.com: https://www.businesswire.com/news/home/20240402879247/en/
Press Contacts Marlène Larsonneur - Communication Department + 33 (0)1 44 35 31 65 - mlarsonneur@ccr-re.fr Caroline Sueur - Press Relations + 33 (0)6 63 89 31 31 - csueur@convictions.fr
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