CCR - 2023 Solvency and Financial Condition Report – SFCR - CCR
PUBLICATIONS
CCR - 2023 Solvency and Financial Condition Report – SFCR
03/26/2024
This narrative report is part of the Solvency II regulatory reporting requirements and has been submitted to the ACPR, the French insurance supervisor (Autorité de Contrôle Prudentiel et de Résolution). This report was validated by the Chief Executive Officer, reviewed by the Audit, Accounts & Risks Committee and subsequently approved by the Board of Directors of CCR before being submitted to the ACPR.
In accordance with Solvency II regulatory requirements, this report summarizes information about the reinsurance business of Caisse Centrale de Réassurance in 2023 relevant to calculations made in connection with Solvency II.
For the purposes of this report, readers should assume that all items referred to herein were valued at December 31, 2023 and are expressed in euros.
This report may refer to additional information available on the CCR website, https://www.ccr.fr/en/.
The Regular Supervisory Report (RSR) comprises the following chapters:
• Presentation, business and performance
• Governance system • Risk profile
• Valuation of assets and liabilities
• Capital management
The additional disclosures required by Solvency II, as presented using the quantitative reporting templates (QRTs), are provided in the Appendices.
CCR operates in the State-guaranteed reinsurance sector and as a manager of public funds. It also conducts research on behalf of the State, on the origins, prevention and coverage of natural risks, agricultural risks and other risks.
Activities carried out within the scope of CCR’s role as manager of public funds on behalf of the French State are not recorded in CCR’s financial statements. A separate off-book account is used for each fund.
CCR continues to manage the run-off of the open market reinsurance contracts not transferred to its subsidiary CCR Re, which are reinsured with CCR Re on a mirrored basis.
For the purposes of regulatory reporting under Solvency II, CCR uses the standard formula. In 2023, there were no material changes in its risk profile, which reflects the exposure arising from its State-guaranteed reinsurance activities and its asset management activities
