S&P upgrades CCR Re's rating

Standard and Poor's (S&P) has upgraded CCR Re's rating from "A-" to "A". The rating agency has withdrawn the "CreditWatch with positive implications" rating it had previously imposed on the French reinsurer.

This decision came following SMABTP and MACSF's successful acquisition of a majority stake in CCR Re from Caisse Centrale de Réassurance (CCR) on 3 July 2023.

The transaction has also given AM Best the opportunity to review its position and confirm the reinsurance company's A (excellent) rating.