The name change was announced on the 19th of September 2024. Roughly 18 months prior a consortium comprised of SMABTP and MACSF completed the acquisition of a majority shareholding in the firm.

Arundo is the Latin word for “reed”, the name is inspired by a well-known French fable, in which a reed represents a universal symbol of resilience and vitality.

Founded in 2016, CCR Re was established to take over the reinsurance activities of public-sector reinsurer CCR, and commenced operations at the January 1, 2017, treaty renewals and with the transfer of CCR’s open market portfolio. In 2023, Arundo Re generated gross written premiums of €1.186 million, with a net income of €56 million.

In a press release, the reinsurer stated, “In our business, flexibility is key. It enables us to respond to changing circumstances while ensuring continuity.

“We live in an uncertain world full of challenges, but there is no such thing as inevitability. What truly matters is the ability to respond quickly and calmly.”

Recently, the reinsurer sponsored the seventh vintage of its collateralised reinsurance sidecar vehicle, 157 Re 25. According to the announcement, the firm made several improvements to the operation of 157 Re to facilitate future renewals aligning with its strategy of diversifying its sources of third-party capital.

The post CCR Re rebrands as Arundo Re appeared first on ReinsuranceNe.ws.

According to the announcement, CCR Re has made a number of improvements to the operation of 157 Re to facilitate future renewals, as well as aligning with its strategy of diversifying its sources of third-party capital.

“This seventh issue, and the improvements made to 157 Re, testify to a shared ambition with our investors to build this platform for the long term,” commented Mathieu Halm, Chief Retrocession, Alternative Capital Officer and Board Secretary.

The reinsurer said that it benefits from the continued confidence of 157 Re’s long-standing investor partner, Boussard & Gavaudan Investment Management LLP.

CCR Re also said that it benefited from the expertise of Gallagher Securities (acting as structuring and placement agent), France Titrisation (acting as management company), BNP Paribas Securities (acting as custodian bank) and the legal advice of Linklaters.

The 157 Re sidecar series provides CCR Re with an efficient way to access reinsurance from the capital markets, through an aligned approach to risk sharing with its investor partners.

At a similar time last year, CCR Re sponsored the sixth vintage of its 157 Re 24 sidecar vehicle.

Readers can view details of many other collateralized reinsurance sidecars over at our sister publication Artemis.

The post CCR Re sponsors seventh vintage of its 157 Re reinsurance sidecar appeared first on ReinsuranceNe.ws.

Boulanger brings over 18 years of experience in life actuarial science, with extensive expertise in life reinsurance across areas such as protection, long-term care, credit insurance, and savings.

He joins CCR Re from BPCE Assurances, where he served as a Reinsurance Expert for the past five years. Prior to that, he held key roles at PartnerRe, SCOR, and Actuaris.

Hervé Nessi, Chief Underwriting Officer at CCR Re, expressed enthusiasm for Boulanger’s appointment, stating, “It’s a real pleasure to welcome Ludovic into our underwriting team!

“This strategic recruitment reflects our desire to strengthen our presence and development in the French Life market.”

Commenting on his new role, Boulanger said, “I am delighted to join CCR Re, a company renowned for its expertise and human-centric approach. I am excited to bring my expertise to support our clients and deliver impactful projects in a constantly evolving market.”

The post CCR Re appoints Ludovic Boulanger as Life Underwriter appeared first on ReinsuranceNe.ws.

Mehta brings to her new role 17 years’ experience within the field of reinsurance and consultancy, during which time she held management positions within large international companies.

Her career has seen her manage complex portfolios and developed innovative solutions for the Asia Pacific and European markets.

At RGA, the executive served as Director-Market Development, Asian Markets; before that, she was part of the Strategy & Consulting team at Accenture.

Mehta also spent seven years at AXIS Specialty Limited, where she held a number of roles focusing on Asia Pacific and South Asia. As well as three years as Country Underwriting Manager at AIG.

Hervé Nessi, Chief Underwriting Officer, commented: “We are delighted to welcome Vaibhavi to the team. The creation of a multicultural environment in Paris is one of the pillars of our strategy.

“Vaibhavi’s recognised expertise within the Life and Health sectors as well as her significant international experience will be major assets in supporting our ambitious expansion.”

The post Vaibhavi Mehta becomes CCR Re’s Director of Underwriting, Life appeared first on ReinsuranceNe.ws.

Founded in 2016, CCR Re was established to take over the reinsurance activities of public-sector reinsurer CCR, and commenced operations at the January 1, 2017, treaty renewals and with the transfer of CCR’s open market portfolio.

Over the years, the reinsurer has expanded and in early 2023, it was revealed that CCR entered into exclusive negotiations with SAMBTP and MACSF to transfer control of CCR Re and increase its capital by €200 million.

In July of last year, the transaction completed and the two majority shareholders simultaneously subscribed to the capital increase, resulting in a holding of 75% of CCR Re’s capital, with CCR holding a share of 25%.

For 2023, the reinsurer produced a combined ratio of 96.6% in spite of elevated natural catastrophe losses, and exceeded the €1 billion sales milestone.

The strong performance continued into 2024, with CCR Re generating turnover of €970 million for the first half of the year, and the reinsurer emphasised that efforts which began at the start of the year and throughout the summer enabled it to “virtually complete” its autonomy from CCR.

In light of this, both S&P and AM Best confirmed the reinsurer’s ratings as “A” with a stable outlook.

The post French reinsurer CCR Re to become Arundo Re from January appeared first on ReinsuranceNe.ws.

For CCR Re’s life business, turnover was stable in H1 2024 when compared with the prior year, while non-life saw an increase of 9%.

The reinsurer’s non-life business saw its profitability improve by more than 6 percentage points in H1 2024 when compared with H1 2023, achieving an undiscounted combined ratio of 88.8%.

CCR Re attributes the stronger combined ratio to the lack of major natural disasters in the period.

According to the company, efforts which began in the first of the year and throughout the summer have enabled it to “virtually complete” its autonomy from CCR.

As a result, both S&P and AM Best have confirmed the reinsurer’s ratings as “A” with a stable outlook, which reflects its level of solvency, and prudent risk management practices in terms of provisioning, retrocession, and asset management.

“The first-half results confirm CCR Re’s strategy of profitable growth, underpinned by our strong underwriting discipline. This is illustrated by the quality of renewals on 1st January and 1st April,” said Bertrand Labilloy, CCR Re’s CEO.

Today’s results follow a solid performance in 2023 for CCR Re, during which the firm reported a 2.1 percentage point improvement in its combined ratio despite elevated natural catastrophe losses.

The post CCR Re’s turnover rises 7% to €970m in H1’24 appeared first on ReinsuranceNe.ws.

In his new role, Jallet will be responsible for managing CCR Re’s investments and will report to Executive Management.

Bertrand Labilloy, CEO of CCR Re, expressed enthusiasm for Jallet’s appointment, stating, “We are delighted to welcome Sébastien Jallet to CCR Re.

“His 30 years of management experience with major insurance companies along with his practice of responsible investing are major assets for the company’s success.”

Previously, Jallet served as Director of Investments at CCR for almost five years.

Before that, he was Head of Fixed Income Insurance at Ostrum Asset Management and Head of Fixed Income Management at Generali Investment France.

The post CCR Re appoints Sébastien Jallet as Head of Investment appeared first on ReinsuranceNe.ws.

In its 2023 ESG Report, CCR Re attributes this robust growth to its commitment to sustainable and responsible investment. Additionally, all the assets CCR Re delegates are handled by fund managers who are signatories to the Principles for Responsible Investment.

The company also emphasises the increasing importance of natural catastrophes, noting that over two-thirds of its income comes from Property Damage and Specialty Lines. CCR Re is particularly aware of the rising frequency and impact of these events.

A notable achievement reported by the firm is the successful transition of all its buildings to green energy sources, significantly reducing overall energy consumption. This effort is part of CCR Re’s policy to minimise its environmental footprint.

CCR Re continues to align with the objectives of the Paris Agreement. In 2023, the company reduced its CO2 emissions by 15% compared to the previous year, marking a major step towards its goal of carbon neutrality.

CCR Re concluded, “This 2023 ESG Report not only highlights our achievements but also showcases the ongoing dynamics within the company. Our actions and progress to date reinforce our determination to pursue these efforts steadily to contribute to the essential transition to a more sustainable, inclusive, and resilient economy.”

The post CCR Re’s ESG asset portfolio surpasses €1bn mark appeared first on ReinsuranceNe.ws.

Boureau has returned to the French reinsurer after four years with Swiss Re where he was a Reinsurance Senior Client Treaty Underwriter (Non-Life), covering France, Belgium and Luxembourg.

Boureau previously worked at CCR Re as a Non-Life Treaty Underwriter and has significantly contributed to business development in Asia and South Africa. At CCR Re, he has also served as a P&C Actuarial Analyst within the Canada Underwriting division.

Hervé Nessi, Head of Underwriting, commented on the appointment, “We are delighted that Cédric will be returning to our team.

“His strengthened international experience and in-depth knowledge of the Asian & African markets will help develop our projects within these areas where we have strong ambitions.”

Boureau’s other roles include serving as an Actuary at KPMG within the Pension & Benefit division, Actuary Intern at Active Asset Allocation within the R&D division.

He has also served as an Actuary Intern at AXA Liabilities Managers within the Actuarial division, where he was responsible for the reworking process of a P&C reinsurance portfolio reporting tool.

The post Cédric Boureau returns to CCR Re as Senior Actuary Underwriter appeared first on ReinsuranceNe.ws.

Most recently, Krumholz served as a Treaty Casualty Underwriter for Munich Re in Germany.

Prior to that, he has served as a Risk Management Intern for Exyte for six months based out of Stuttgart, Bade-Wurtemberg. He was responsible for designing and implementing an overall risk management process for the company as well as performing risk identification, assessment, evaluation and monitoring.

Krumholz has also served as an Investigation Analyst Intern for the financial sector at Sqope S.A.

Hervé Nessi, Head of Underwriting, CCR Re, commented on the appointment, “We are delighted to welcome Maxime Krumholz to the Underwriting Department. His years spent working for a Reinsurance company such as Munich Re constitute a great asset for us and an enriching source of expertise which will greatly serve our German-speaking clients.”

The post CCR Re adds Maxime Krumholz as a non-life underwriter appeared first on ReinsuranceNe.ws.