CCR

What CCR does

CCR (Caisse Centrale de Réassurance) is a public-sector reinsurer wholly owned by the French State, founded in 1946 and headquartered in Paris. The company provides unlimited reinsurance coverage backed by the State guarantee to French property and casualty insurers for three classes of extreme risk: natural catastrophes under the 1982 Cat Nat regime, nuclear operator liability, and terrorism. French insurers are statutorily required to include mandatory natural catastrophe coverage in their property and automobile policies and to cede at least 50% of resulting Cat Nat premiums to CCR via quota-share treaty, supplemented by unlimited stop-loss coverage on the retained portion. CCR also collects a regulated surprime (raised to 20% on property and 9% on auto as of January 1, 2025) and operates a digital ecosystem including the public Portail Catastrophes Naturelles and the Espace Pro client portal.

The company's underlying technology combines physical, actuarial, and economic modeling capabilities, scientific computing, data science, and geomatics to characterize natural and anthropic risk. CCR has accumulated over 40 years of claims data (3.6 million claims, €61.2 billion compensated since 1982) and partners with Météo-France, BRGM, and the Ministry of Ecology to produce climate change impact projections to 2050 under IPCC scenarios (RCP 4.5 and 8.5). The firm manages €11.4 billion in assets at market value as of 31/12/2025, including a €350 million private markets mandate delegated to Amundi in March 2026.

CCR's revenue model is built on three streams: regulated reinsurance premiums (Cat Nat premiums of €1,787 million in 2025, total revenue €1,878 million), public fund management fees (including the Fonds Barnier/FPRNM), and advisory and modeling services to public authorities, insurers, and private reinsurers. Distribution is exclusively direct via treaty agreements with all French P&C insurers—no brokers or intermediaries participate—and CCR also selectively participates in international reinsurance pools. Beyond its core reinsurance mission, CCR operates the Observatoire de l'Assurabilité research initiative (established 2024), the Climate Change Resilience Fund (CCR-F) managed by Starquest, and an annual Journée CCR industry event serving as the firm's principal thought leadership platform.

Name

CCR

Legal name

Caisse Centrale de Réassurance

Website

https://ccr.fr

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

51–100 employees

Short description

CCR is France's 100% state-owned public reinsurer providing unlimited reinsurance coverage backed by the French State for natural catastrophes, nuclear liability, and terrorism risks to all French P&C insurers under the statutory Cat Nat regime.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Natural Catastrophe Reinsurance Premiums: CCR collects reinsurance premiums from French insurers in exchange for unlimited natural catastrophe reinsurance coverage backed by the French State. Insurers are required to cede at least 50% of their Cat Nat premiums to CCR through a quota-share arrangement.
2. Public Fund Management Fees: CCR is charged with the accounting and financial management of public funds on behalf of the State, including the Fonds de Prévention des Risques Naturels Majeurs (FPRNM/Fonds Barnier).
3. Consulting and Advisory Services: CCR provides advisory services to public authorities, insurers, and private reinsurers on prevention, modeling, and adaptation of extreme risks, generating professional services revenue.
4. Investment Portfolio Management: CCR manages its own assets including a €350M private markets mandate managed by Amundi, investing in private equity and private debt. Returns on investment contribute to overall financial results.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

CCR is France's public reinsurer providing unlimited reinsurance coverage backed by the French State to insurance companies operating in France against three classes of extreme risks: natural catastrophes (Cat Nat regime), nuclear operator civil liability, and terrorism. It collects regulated surcharges from insurers (20% on property damage and 9% on auto as of 2025), of which at least 50% is mandatorily ceded via quota-share treaties, supplemented by unlimited stop-loss protection. Beyond reinsurance, CCR conducts physical, actuarial and economic risk modeling, manages public disaster funds (Fonds Barnier/FPRNM) on behalf of the State, and advises public authorities on prevention and adaptation.

Product overview

CCR (Caisse Centrale de Réassurance) is France's public reinsurer offering a portfolio of interconnected services centered on natural catastrophe risk coverage. Its core offerings include unlimited reinsurance with state guarantee for natural catastrophes (Cat Nat), nuclear liability, and terrorism risks. The company provides advisory services (prevention consulting, risk modeling, scientific computing) through its public-facing Portail Catastrophes Naturelles platform and private Espace Pro client portal. Key offerings include the Cat Nat compensation regime management, the Observatoire de l'Assurabilité research initiative, and the CCR-F Climate Change Resilience Fund for impact investing.

Differentiator

Problem solved

Functional benefit

Brands

• Climate Change Resilience Fund (CCR-F): Investment fund managed by Starquest that finances companies developing prevention and climate change adaptation solutions.
• Portail Catastrophes Naturelles

Products and services

• Réassurance Catastrophes Naturelles (Cat Nat) Unlimited reinsurance coverage with French State guarantee for natural catastrophe risks, ceded by French P&C insurers via mandatory quota-share and stop-loss treaties; backbone of the Cat Nat compensation regime.
• Réassurance Risque Nucléaire Reinsurance coverage for nuclear operator civil liability risk in France, addressing market failures for this strategic activity that private markets cannot cover alone.
• Garantie Terrorisme Reinsurance guarantee covering property damage from terrorism attacks on French territory, providing backstop capacity that complements private market terrorism coverage.
• Portail Catastrophes Naturelles Public-facing digital portal accessible to all citizens, providing information on the Cat Nat regime, interactive risk zone visualization maps by commune, disaster declaration listings, event analyses and claim guidance.
• Espace Pro Professional client portal enabling insurance company clients and partners to connect their portfolios, access services, and benchmark performance against the market.
• Conseil en Prévention Advisory services providing CCR's expertise on natural catastrophes to public authorities, insurers and prevention stakeholders, focused on preserving the Cat Nat regime and protecting territories.
• Modélisation des Risques Physical, actuarial and economic modeling services analyzing the consequences of natural and anthropogenic catastrophes, supporting public policy and climate adaptation, including climate projections to 2050 with Météo-France.
• Gestion des Sinistres Claims management services for reinsured losses, providing an indemnification guide, major claims tracking, and best practice frameworks for homogenizing claims handling across market actors.
• Observatoire de l'Assurabilité Research observatory on territory insurability facing natural risks, operated by CCR at the Government's request, publishing annual reports to maintain solidarity-based insurance offerings in metropolitan and overseas territories.
• Climate Change Resilience Fund (CCR-F) Impact investment fund managed by Starquest that finances companies developing natural catastrophe prevention and climate change adaptation solutions, aligned with CCR's mission of preserving insurability.
• Gestion des Fonds Publics Accounting, financial and administrative management of public funds on behalf of the French State, including the Fonds Barnier (FPRNM) for natural risk prevention.

Quantifiable outcome

• 40% increase in natural catastrophe claims costs projected by 2050 under climate change (RCP 4.5 & 8.5 IPCC scenarios); 60% when including evolution of insured risks.
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Météo-FrancecoreStrategic or Co-development PartnerCCR partners with Météo-France to develop climate risk projections and analyses. In particular, Météo-France provides climate data and methodologies (including SAFRAN 8km grid data, SWI soil moisture indices, and SIM2 hydrological models) used by CCR for natural catastrophe modeling and climate change cost studies at the 2050 horizon.
• Bureau de Recherches Géologiques et Minières (BRGM)coreStrategic or Co-development PartnerBRGM has been conducting a multi-year departmental mapping program of clay shrinkage-swelling hazard since 1997, co-funded by the Fonds de Prévention des Risques Naturels Majeurs (FPRNM) and BRGM's public service allocation. CCR co-finances this geological risk mapping which provides data for natural catastrophe risk modeling across all French metropolitan departments.
• Direction Générale de la Prévention des Risques (Ministry of Ecology)coreStrategic or Co-development PartnerSince 2021, CCR has been engaged in a five-year partnership with the French Ministry's General Directorate for Risk Prevention to strengthen territorial resilience against extreme natural phenomena, protect human lives, reduce property damage, and preserve the solidarity principle of the natural catastrophe indemnification system.
• CeremaminorStrategic or Co-development PartnerCerema (Centre d'études et d'expertise sur les risques, l'environnement, la mobilité et l'aménagement) participates in CCR's annual Journée CCR event as an expert contributor on territorial resilience and climate adaptation topics.
• SFA Congo (Congo)minorChannel Partner/ Reseller/ DistributorSFA Congo, a challenger insurer in the DRC market focused exclusively on the corporate segment, structured an international reinsurance program with global leaders including CCR Paris, SCOR, Munich Re, and Africa Re, all rated A, to absorb large industrial risks that local capacity cannot cover alone.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Berkshire Hathaway Reinsurance Group: Major reinsurance arm of Berkshire Hathaway providing large-scale property catastrophe and excess-of-loss capacity globally. Comparable to CCR on catastrophe treaty product but as a private commercial carrier offering cedants a non-state-backed alternative.
• Lloyd's of London: Global specialty insurance and reinsurance market providing catastrophe and property capacity through syndicate structure. Comparable to CCR as a major supplier of catastrophe reinsurance capacity, particularly relevant for cedants seeking alternatives to CCR's state-backed unlimited coverage.
• Swiss Re: Global reinsurer offering natural catastrophe capacity and modeling services. Comparable to CCR in catastrophe treaty underwriting and risk-modeling expertise, but operates as a publicly listed private reinsurer without state guarantee.
• Munich Re: World's largest reinsurer, providing broad P&C and life reinsurance including natural catastrophe capacity. Comparable to CCR on the catastrophe reinsurance product line but operates globally and privately, without CCR's public-mandate state guarantee structure.
• Hannover Re: One of the world's largest reinsurers, with significant catastrophe and P&C treaty business. Direct peer to CCR on property catastrophe reinsurance product but operates as a private commercial entity competing across global markets.

Direct peers

• SCOR: French-headquartered global reinsurer offering P&C and life reinsurance worldwide, including catastrophe treaty business. Most direct geographic and product peer to CCR, competing in the French market for cat capacity while also serving international cedants.
• PartnerRe: Mid-sized global reinsurer offering P&C, life, and specialty reinsurance including natural catastrophe capacity. Direct peer to CCR on catastrophe treaty underwriting; CCR's CFO Béatrice Pujol previously held multiple roles at PartnerRe, evidencing talent pool overlap.

Regional players

• R+V Versicherung: German cooperative insurer and reinsurance provider closely tied to public-sector financial structures. Comparable to CCR as a European insurer/reinsurer operating under a public-affiliated cooperative model, providing reference point for non-public reinsurance capacity in continental Europe.
• Caisse Nationale de Réassurance Mutuelle Agricole (CNRA / Groupama): Historical French reinsurer (now integrated into Groupama) operating in the French market for agricultural and catastrophe risks. CCR's Director of Reinsurance, Antoine Quantin, began his career in climate risk modeling at Groupama, evidencing deep market overlap with CCR.

Others

• Caisse des Dépôts et Consignations: French state-owned financial institution fulfilling general-interest missions through long-term investment and asset management. Comparable to CCR in ownership structure (100% French State) and public-mandate role, though focused on long-horizon capital deployment rather than reinsurance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CCReassurance
• YouTubeyoutube.com/channel/UCLFOkhVCTTttzXGOUOuUAxg
• LinkedInlinkedin.com/company/ccr-caisse-centrale-de-reassurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CCR