CCR hit with EUR400mn flood losses in 2016

French state reinsurer Caisse Centrale de Réassurance
(CCR)'s loss ratio jumped 13 percentage points to 74 percent in
2016 after the carrier suffered EUR400mn ($436mn) from widespread
flooding in France in early summer.
Annual results released today revealed flooding last May and
June was the primary cause of a near-60 percent increase in total
insured losses to EUR1.1bn.
The losses translated into a 13.1 point year-on-year increase in
the non-life combined ratio to 89.9 percent for the y