CCR & CCR Re retain AM Best ratings through separation & sale

The French government backed reinsurer  CCR and its reinsurance arm CCR Re held on to their ratings from AM Best through a deal that will see CCR shed its stake in the unit.

Caisse Centrale de Réassurance (CCR) sold a majority stake in CCR Re to a newly formed consortium of mutual insurers SMABTP and MACSF for a €200 million boost to its capital. The transaction includes further mechanisms for SMABTP and MACSF to acquire CCR’s remaining interest in CCR RE in 2026.

CCR Re retains its A (excellent) financial strength rating and 'a' long-term issuer credit rating with stable outlook.

AM Best continues to like CCR Re’s balance sheet strength, which AM Best assesses as "very strong", as well as its "adequate operating performance, neutral business profile and appropriate enterprise risk management."

The former parent Caisse Centrale de Réassurance (CCR) remains with its A+ (Superior) financial strength rating and its "aa" long-term credit rating (superior), but sports a negative outlook on its credit rating on account of deterioration in the creditworthiness of the Republic of France, from which CCR receives rating lift.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.