French reinsurer CCR Re has announced that it will officially change its name to Arundo Re as of 16 January 2025.
The rebranding follows the acquisition of a 75% stake in the company by a consortium led by SMABTP and MACSF, which was completed in July 2023.
Founded in 2016, CCR Re was established to take over the reinsurance activities of public-sector reinsurer CCR and began operations on 1 January 2017. The reinsurer has since expanded its operations and entered exclusive negotiations with SMABTP and MACSF in early 2023 to transfer control and increase its capital by €200m (US$223m).
The company has said its efforts to achieve autonomy from CCR are now “virtually complete”
CCR Re reported strong financial performance for 2023. The company achieved total sales of €1.186bn, a 20% increase from 2022, and an combined ratio to 96.6%.
