AM Best affirms CCR and CCR Re credit ratings
AMBEST affirms the A+ (“Superior”) Financial Strength Rating of CCR and the A (“Excellent”) Financial Strength Rating of CCR Re. The outlook remains stable.
The rating agency underlined again the quality of CCR balance sheet strength and noted that CCR is able to face with extreme events (such as of natural disasters or terrorism) thanks to the special reserves and equalization provisions it has set up.
AMBEST highlighted the quality of CCR Re's balance sheet, reflected by its capital position upgraded by the agency from “strong” to "very strong". AMBEST also noted the prudent provisioning policy, as well as the liquidity and high quality of CCR Re's investment portfolio. Finally, AMBEST noted that CCR Re reinsurance business has been profitable since the company's creation in 2016 and anticipated that the operations discipline will enable CCR Re to maintain this performance.
"The solid CCR and CCR Re ratings confirm the relevance of the healthy and balanced growth strategy deployed since 2016 and rewards innovation and risk management efforts of all teams" said Bertrand Labilloy, Chairman and CEO of CCR Re.
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