Insurance Day
CCR full year 2010
Windstorm Xynthia and the Var floods pushed CCR to an underwriting loss
Graham Village
FRENCH state-owned reinsurer Caisse Centrale de Réassurance (CCR) suffered a significant deterioration in underwriting performance
last year owing to heavy losses from floods and the company fell to an underwriting loss of €9.9m ($14.2m) compared with a
profit of $494.4m the previous year. A positive investment result helped CCR record a net profit of €110.8m, although the
surplus was down from €181.7m in 2009. The result for 2010 included an extraordinary charge of €48.1m in the form of recognition
of a tax provision for previous years.