CCR Re eyeing sustainable growth and global expansion, says CEO Labilloy

Speaking from The Insurer TV’s pop-up studio in Monte Carlo, CCR Re CEO Bertrand Labilloy has laid out the company's strategy for sustained growth while highlighting key industry discussions around casualty lines and specialty markets.

Addressing the reinsurance community's hot topics, Labilloy emphasised the need for "adjustments in casualty and life lines" following years of corrections on the property side.

"The balance on property is quite good," he said, adding that maintaining this balance for the long term is vital. He pointed to rising costs of capital and loss trends as drivers of needed changes in casualty lines.

Labilloy also highlighted challenges in specialty lines, particularly space reinsurance. “Last year was very bad for Black Swan,” he remarked, underlining the sector's growing risk and the industry's role in ensuring its future insurability.

CCR Re reported a robust combined ratio of 88.8 percent in the first half of 2024, a 6 point improvement. Labilloy credited this to a "comeback" to earlier performance levels, as well as rate increases in specific products. He confirmed the changes are sustainable, setting a positive tone for future results.

Following the acquisition of CCR Re by a consortium of French mutuals, Labilloy expressed satisfaction with the transition process. "IT integration, often a nightmare, went smoothly. Our team deserves a gold medal for this," he noted. He also confirmed that the €200mn ($222mn) capital injection post-acquisition is fuelling talent acquisition and proportional growth, with a new chief underwriting officer soon joining from India.

As geopolitical tensions continue to shape global markets, Labilloy noted CCR Re’s resilience in navigating these risks. "We work like all our competitors in this difficult environment. So far, so good."

International expansion remains a priority, with significant progress in Asia and the Middle East, particularly in life and health lines. "Latin America is our next focus to enhance geographical diversification," Labilloy said.

Looking ahead, CCR Re remains focused on profitability over rapid top-line growth, reaffirming its goal of achieving €2bn in GWP by 2027. "The priority is the bottom line," Labilloy stated, confident that market conditions will support the company's ambitions.

As CCR Re continues to capitalise on global opportunities, Labilloy’s strategy remains steady: sustainable growth, talent investment, and a focus on core profitability in a complex reinsurance landscape.