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8th of February 2012

Reinsurer Caisse Centrale has A++ ratings reaffirmed

Matthew Broomfield 31/08/2010

The French government-backed reinsurer Caisse Centrale de Réassurance (CCR), has had its financial strength rating of A++ and issuer credit rating of aa+ affirmed my A.M. Best.

CCR offers reinsurance cover for natural catastrophe, terrorism and other exceptional risks with the support of the French State, its sole shareholder, in the form of unlimited stop-loss reinsurance.

A.M. Best said the ratings reflect CCR's “superior risk-adjusted capitalisation, good operating performance and excellent business profile in France and abroad”.

In 2009, CCR recorded a net profit of $706m before equalisation reserve provisions. The company also writes conventional reinsurance business not covered by the State, which is likely to represent about 40 per cent of its 2010 premium income.

Tags: A.M.Best, Caisse Centrale de Réassurance

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