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CCR intends to sell majority stake in reinsurance unit for $200 million

Posted On: Sep. 22, 2022 10:04 AM CST

French state-owned reinsurer Caisse Centrale de Reassurance SA’s intends to sell a majority stake in its reinsurance subsidiary CCR Re to a new shareholder or a group of shareholders for €200 million ($200.3 million) by July 2023, Reinsurance News reported. The transaction will also help CCR separate its market activities from its public-sector activities and will allow CCR Re to attain the size and level of profitability it needs to self-finance its growth in line with market rates.