---
title: CCR Re 2019 financial results
description: CCR Re outperformed its business plan, with a combined ratio of 98.1%
---

[Insurance & Reinsurance market | Arundo Re's blog](https://blog.arundore.com/en)

# [CCR Re 2019 financial results](https://blog.arundore.com/en/ccr-re-2019-financial-results)

 Written by [CCR Re](https://blog.arundore.com/en/author/ccr-re) | Apr 30, 2020, 2:54:08 PM

## CCR Re maintained its record of profitable growth, reporting an increase in premium income (up 21%), an improvement in the Non-Life combined ratio (98.1%) and stable net income(€35 million).

**Gross written premium** totaled €562 million, up 21% compared with 2018 (including 18% growth at constant exchange rates). The business mix was as follows:

 

 

## Gross Written Premiums +21%

 

 

(Millions of €)

 

 

**Portfolio profitability continued to strengthen** during the year. Non-Life combined ratio improved significantly, falling to 98.1% despite significant Nat Cat loss ratio, as was the case in 2018, especially in Japan. Life reinsurance margin was amounted to 5.2%.

 

## Non-life combined ratio

 

The overall **return on investment** reached 2.7%. The portfolio market value amounted to €2.5 billion at December 31, 2019, up by some €190 million (+8%) compared with the previous year-end.

 

CCR Re** cost ratio** improved to 5.5% in 2019.

 

**Current income before equalization reserve** amounted to €56 million, up 23% on 2018.

 

 

## Current income +23%

 

(Millions of €)

 

CCR Re’s **net income** was €35 million, after deducting tax at the effective rate of 39%. In 2018, the effective rate was 0% due to the tax treatment of unrealized gains and losses on mutual funds

 

 At 185%, the subsidiary’s **solvency coverage ratio** at December 31, 2019 was within the optimal range of \[180%-220%\] established by the Risk Appetite Framework.

 

| **€m** | **2018R** | **2019R** |
| --- | --- | --- |
|  |  |  |
| Gross written premiums | 464 | 562 |
| *Year-on-year change (%)* | *+17%* | *+21%* |
| Cost ratio | 5,9% | 5,5% |
| Life technical margin | 6,9% | 5,2% |
| Net combined ratio | 99,4% | 98,1% |
| Return on investment | 2,4% | 2,7% |
| Current income before equalization reserve | 46 | 56 |
| Net income for the year | 35 | 35 |
|   |   |   |
| **Solvency coverage ratio (Solvency II)** | 189% | 185% |

 

**Financial information**

 

The financial statements were approved for publication by the** CCR Group's Board of Directors on April 29, 2020.** The CCR Group’s statutory auditors have completed their audit of the financial statements.

#### [Download CCR Group & CCR Re's financial](https://www.ccr-re.com/en/financial-information) information

 

**Media contact**

Sophie Bodin - DGM Conseil

+ 33 (0)1 40 70 11 89

[s.bodin@dgm-conseil.fr](mailto:s.bodin@dgm-conseil.fr)

 

 

## **Receive financial information from CCR Re**

 

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