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Caisse Centrale de Reassurance Jul 06
Standard & Poors, July 2006
Abstract
Extremely strong and consistent state support Extremely strong capitalization Very strong domestic position in the French natural catastrophe business (excluding windstorms) Strong overall operating performance Concentrated exposures in French territories Follower status and modest market share in nonguaranteed business Marginal earnings in nonguaranteed business The ratings on France-based reinsurer Caisse Centrale de R-assurance (CCR) reflect the unlimited guarantee that the majority of its exposure receives from the Republic of France (AAA/Stable/A-1+), which covers all large losses incurred on defined uninsurable risks written in France and overseas, in accordance with French law. CCR is the 19th-largest reinsurer globally, and is 100% owned by the French state. The company plays a key role within the long-term policy of the government in providing...
Companies mentioned in this report are: Caisse Centrale de Reassurance,Agence Francaise de Developpement
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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