THE CCR GROUP IN 2022
In 2022, the Group achieved contrasting results and prepared for the majority sale of CCR Re. It served the public interest by providing information for discussions on drought (3DS decree) and the development of agricultural insurance. In its competitive activities, CCR Re strengthened its growth momentum despite a turbulent market.
An aerial View of the Chanteloube Viaduct, on the Serre-Ponçon lake in the Hautes-Alpes, shows the consequences of the 2022 drought: usually mostly submerged, the bridge is 16 metres above water level.
Severe storms in France - June 2022
Storm cells developed in France on 3 June as a result of the heatwave in May and 65 departments were placed under orange alert for thunderstorms for the 4 June. Said day recorded the highest number of lightning strikes of the year and rainfall over 24 hours were locally high, reaching 40 to 70 mm. As the geographical area covered by the storm was very wide, a lot of damage was recorded in at least 123 communes.
196 communes declared in a state of natural emergency.
2022 Drought
The precipitation deficit in France for the year 2022 varied between 15 and 25%, including record months such as July which recorded an 85% deficit. The first seven months of the year were the driest on record. In terms of event duration, this drought turns out to be the 3rd longest drought ever recorded, and it lasted 8 months. It is also one of the most extensive in terms of area, with three quarters of France affected.
90 departments affected by drought.
Cyclone Batsiraï hitting Reunion Island - February 2022
Between 1 and 3 February, an intense tropical cyclone (category 3/4 equivalent) named Batsiraï passed 285 km north-west of the coast of Reunion Island. Wind records reached 202 km/h and very heavy rainfall characterised this cyclone. In terms of damage, trees fell on road infrastructure while water and electricity supplies were cut off, in addition to collapsed roofs.
21 communes declared in a state of natural emergency.
Storm Fiona impacting Guadeloupe - September 2022
Tropical Storm Fiona hit Guadeloupe in the night of Friday 16 to Saturday 17 September 2022. This is the sixth event of the 2022 hurricane season with exceptional rainfall totals corresponding, in some cases, to 1.5 months of rainfall. The heavy rainfall caused the gullies to overflow, which in conjunction with a swell of up to 4 metres caused a lot of damage. The main communes affected are Capesterre-Belle-Eau, Basse-Terre and Rivière-des-Pères.
24 communes declared in a state of natural emergency.
Severe storms in France - June 2022
Storm cells developed in France on 3 June as a result of the heatwave in May and 65 departments were placed under orange alert for thunderstorms for the 4 June. Said day recorded the highest number of lightning strikes of the year and rainfall over 24 hours were locally high, reaching 40 to 70 mm. As the geographical area covered by the storm was very wide, a lot of damage was recorded in at least 123 communes.
196 communes declared in a state of natural emergency.
2022 Drought
The precipitation deficit in France for the year 2022 varied between 15 and 25%, including record months such as July which recorded an 85% deficit. The first seven months of the year were the driest on record. In terms of event duration, this drought turns out to be the 3rd longest drought ever recorded, and it lasted 8 months. It is also one of the most extensive in terms of area, with three quarters of France affected.
90 departments affected by drought.
Cyclone Batsiraï hitting Reunion Island - February 2022
Between 1 and 3 February, an intense tropical cyclone (category 3/4 equivalent) named Batsiraï passed 285 km north-west of the coast of Reunion Island. Wind records reached 202 km/h and very heavy rainfall characterised this cyclone. In terms of damage, trees fell on road infrastructure while water and electricity supplies were cut off, in addition to collapsed roofs.
21 communes declared in a state of natural emergency.
Storm Fiona impacting Guadeloupe - September 2022
Tropical Storm Fiona hit Guadeloupe in the night of Friday 16 to Saturday 17 September 2022. This is the sixth event of the 2022 hurricane season with exceptional rainfall totals corresponding, in some cases, to 1.5 months of rainfall. The heavy rainfall caused the gullies to overflow, which in conjunction with a swell of up to 4 metres caused a lot of damage. The main communes affected are Capesterre-Belle-Eau, Basse-Terre and Rivière-des-Pères.
24 communes declared in a state of natural emergency.
INTERNATIONAL
Storms Dudley & Eunice in northern Europe - February 2022
Two strong storms followed each other in Europe mid-February 2022: Dudley affected the British Isles, the Netherlands, Germany and Poland with gusts of 100 to 130 km/h and caused no less than 24 tornadoes; Eunice affected the south of the British Isles, northern France, the Benelux countries, Germany, Denmark, the Czech Republic as well as Lithuania with a record wind speed of 196 km/h on the Isle of Wight and deprived more than 3 million Europeans of electricity. Storms Dudley and Eunice killed 26 people.
EUR 3.9 billion of insured losses.
Fire on the merchant ship ‘Felicity Ace’ - March 2022
On 1 March 2022, the merchant ship ‘Felicity Ace’ sank, with thousands of luxury vehicles in tow, after almost two weeks of the ship being on fire off the Portuguese archipelago of the Azores. From Germany, it was supposed to go to the United States.
EUR 0.5 billion of insured losses.
Hailstorm in France and Benelux - May June 2022
From the end of May until the end of June 2022, thunderstorm systems crossed France from the south-west to the north-east and the Benelux countries, causing very intense hail storms, heavy rain and strong wind gusts.
EUR 5.3 billion of insured losses.
Floods in South Africa – April 2022
On 11 and 12 April 2022, the east coast of South Africa was ravaged by heavy rainfall. The equivalent of six months’ rainfall fell in two days across the Durban area, amounting to 450 mm, killing at least 400 people in floods caused by a cold drop.
EUR 1.6 billion of insured losses.
Typhoon HINNAMNOR affects Taiwan, the Philippines, South East China and South Korea - September 2022
On 5 and 6 September 2022, powerful Typhoon Hinnamnor hit parts of the South China Sea causing damage in the south of South Korea with peak gusts of 180 km/h. The storm dumped more than a metre of rain in some areas, causing at least 13 casualties.
EUR 0.8 billion of insured losses.
Hurricane FIONA in the Caribbean - September 2022
Fiona, classified as a Category 4 on the five-point Saffir-Simpson scale, with sustained winds of up to 210 km/h hit the Caribbean for a week in September 2022. The hurricane caused significant damage in the Guadeloupe archipelago, the Dominican Republic and Puerto Rico before ending its journey in Canada.
EUR 1.4 billion of insured losses.
Storms Dudley & Eunice in northern Europe - February 2022
Two strong storms followed each other in Europe mid-February 2022: Dudley affected the British Isles, the Netherlands, Germany and Poland with gusts of 100 to 130 km/h and caused no less than 24 tornadoes; Eunice affected the south of the British Isles, northern France, the Benelux countries, Germany, Denmark, the Czech Republic as well as Lithuania with a record wind speed of 196 km/h on the Isle of Wight and deprived more than 3 million Europeans of electricity. Storms Dudley and Eunice killed 26 people.
EUR 3.9 billion of insured losses.
Fire on the merchant ship ‘Felicity Ace’ - March 2022
On 1 March 2022, the merchant ship ‘Felicity Ace’ sank, with thousands of luxury vehicles in tow, after almost two weeks of the ship being on fire off the Portuguese archipelago of the Azores. From Germany, it was supposed to go to the United States.
EUR 0.5 billion of insured losses.
Hailstorm in France and Benelux - May June 2022
From the end of May until the end of June 2022, thunderstorm systems crossed France from the south-west to the north-east and the Benelux countries, causing very intense hail storms, heavy rain and strong wind gusts.
EUR 5.3 billion of insured losses.
Floods in South Africa – April 2022
On 11 and 12 April 2022, the east coast of South Africa was ravaged by heavy rainfall. The equivalent of six months’ rainfall fell in two days across the Durban area, amounting to 450 mm, killing at least 400 people in floods caused by a cold drop.
EUR 1.6 billion of insured losses.
Typhoon HINNAMNOR affects Taiwan, the Philippines, South East China and South Korea - September 2022
On 5 and 6 September 2022, powerful Typhoon Hinnamnor hit parts of the South China Sea causing damage in the south of South Korea with peak gusts of 180 km/h. The storm dumped more than a metre of rain in some areas, causing at least 13 casualties.
EUR 0.8 billion of insured losses.
Hurricane FIONA in the Caribbean - September 2022
Fiona, classified as a Category 4 on the five-point Saffir-Simpson scale, with sustained winds of up to 210 km/h hit the Caribbean for a week in September 2022. The hurricane caused significant damage in the Guadeloupe archipelago, the Dominican Republic and Puerto Rico before ending its journey in Canada.
EUR 1.4 billion of insured losses.
EVENTS
13th CCR CAT Day - June 2022
The thirteenth edition of this event, which brings together the players of the French insurance market every year, took place on Wednesday 15 June 2022, with the theme ‘How to adapt to climate change’. This event allowed participants to see each other face-to-face and discuss three main themes: ‘Adapting Compensation Systems’, ‘Innovation and Crisis Management’, and ‘Strengthening Risk Prevention’. In addition to this event, webinars took place throughout the week in relation to these themes.
Presentation of the 2022 CCR Nat Cat Award - June 2022
The CCR Nat Cat Award, which rewards a PhD thesis devoted to the understanding of natural disasters and its application to the insurance industry and risk prevention was awarded during the 13th CCR CAT Day, by Laurent Montador. Aloïs Tilloy, the winner of this 8th prize, who works for the European Commission, was recognised for his work on the theme: ‘Understanding and modelling extreme multi-hazard events’.
Espace Pro Webinar
On 31 May 2022, during a webinar, the CCR teams presented all the services dedicated to its customers and partners in its intuitive and customisable platform called Espace Pro. The participants were able to discover the functionalities of this tool: dashboards to analyse insured property, exposure to hazards and the loss experience of the territories, sheets on the major Nat Cat events that have occurred in France, all the Nat Cat decrees since 1982, datasheets with the history of Nat Cat losses by commune and the prevention measures as well as an interactive map.
Assises Nationales des Risques Naturels 2022
On the initiative of the French Ministry of Ecological Transition and Territorial Cohesion, the ANRN brought together on 13 and 14 October 2022 all the stakeholders involved in natural catastrophe prevention. CCR, an official partner of the event, organised a round table on the effectiveness of natural catastrophe prevention. The CCR teams presented their work to support prevention players and public authorities in developing measures to reduce natural risks. Bertrand Labilloy, CCR’s CEO, participated in the round table “In the context of climate change, how can we forecast and prepare for changes in natural risks?”.
Launch of the fifth sub-fund of the 157 Re sidecar
In an extremely tough retrocession market, shaped by the withdrawal of many players, CCR Re increased the capital raised by over 40% compared to 157 Re 22, which increased its underwriting capacity in property and casualty - catastrophe risks worldwide. 157 Re 23 benefited from the support of its historical investor, the renewed confidence of the investor who arrived in 2022 and the arrival of a new investor. Among those involved with 157 Re 23’s issuance were CCR Re, Gallagher Securities, as Structuring and Placement Agent, France Titrisation, as Management Company, BNP Paribas, as Custodian and Linklaters, as Legal Advisors to the transaction.
The Insurance Linked Securities (ILS) Show
Since 2021, CCR Re has been managing a show to discuss Insurance Linked Securities. Hosted by Mathieu Halm, Head of Retrocession & Alternative Capital at CCR Re, each show brings together a panel of experts to discuss various topics, the latest being: ‘Valuation & Transparency of Information’. It also features exclusive interviews with experts from the ILS market.
‘Reinsurance Hot Topics’ Webinars
CCR Re launched a new international event in 2021, a series of webinars called “Reinsurance Hot Topics”, which bring together leading reinsurance experts to discuss, in a roundtable discussion, topical issues that impact the reinsurance industry. The last topic discussed was ESG, its challenges and outlook.
The Apref’s morning sessions
Bertrand Labilloy took part in the Apref’s morning sessions in October 2022 on the theme: “Climate Change: Adapting and Acting”. With the acceleration of climate-related events, particularly in France, the time has come to adapt and act rather than predict. This roundtable focused on ways to slow down or even reverse the trend and increase resilience to climate change. The panel of speakers, all from the reinsurance industry, gave an account of the latest initiatives taken in the fields of the environment, agriculture and healthcare.
EVENTS
13th CCR CAT Day - June 2022
The thirteenth edition of this event, which brings together the players of the French insurance market every year, took place on Wednesday 15 June 2022, with the theme ‘How to adapt to climate change’. This event allowed participants to see each other face-to-face and discuss three main themes: ‘Adapting Compensation Systems’, ‘Innovation and Crisis Management’, and ‘Strengthening Risk Prevention’. In addition to this event, webinars took place throughout the week in relation to these themes.
Presentation of the 2022 CCR Nat Cat Award - June 2022
The CCR Nat Cat Award, which rewards a PhD thesis devoted to the understanding of natural disasters and its application to the insurance industry and risk prevention was awarded during the 13th CCR CAT Day, by Laurent Montador. Aloïs Tilloy, the winner of this 8th prize, who works for the European Commission, was recognised for his work on the theme: ‘Understanding and modelling extreme multi-hazard events’.
Espace Pro Webinar
On 31 May 2022, during a webinar, the CCR teams presented all the services dedicated to its customers and partners in its intuitive and customisable platform called Espace Pro. The participants were able to discover the functionalities of this tool: dashboards to analyse insured property, exposure to hazards and the loss experience of the territories, sheets on the major Nat Cat events that have occurred in France, all the Nat Cat decrees since 1982, datasheets with the history of Nat Cat losses by commune and the prevention measures as well as an interactive map
Assises Nationales des Risques Naturels 2022
On the initiative of the French Ministry of Ecological Transition and Territorial Cohesion, the ANRN brought together on 13 and 14 October 2022 all the stakeholders involved in natural catastrophe prevention. CCR, an official partner of the event, organised a round table on the effectiveness of natural catastrophe prevention. The CCR teams presented their work to support prevention players and public authorities in developing measures to reduce natural risks. Bertrand Labilloy, CCR’s CEO, participated in the round table “In the context of climate change, how can we forecast and prepare for changes in natural risks?”.
Launch of the fifth sub-fund of the 157 Re sidecar
In an extremely tough retrocession market, shaped by the withdrawal of many players, CCR Re increased the capital raised by over 40% compared to 157 Re 22, which increased its underwriting capacity in property and casualty - catastrophe risks worldwide. 157 Re 23 benefited from the support of its historical investor, the renewed confidence of the investor who arrived in 2022 and the arrival of a new investor. Among those involved with 157 Re 23’s issuance were CCR Re, Gallagher Securities, as Structuring and Placement Agent, France Titrisation, as Management Company, BNP Paribas, as Custodian and Linklaters, as Legal Advisors to the transaction.
The Insurance Linked Securities (ILS) Show
Since 2021, CCR Re has been managing a show to discuss Insurance Linked Securities. Hosted by Mathieu Halm, Head of Retrocession & Alternative Capital at CCR Re, each show brings together a panel of experts to discuss various topics, the latest being: ‘Valuation & Transparency of Information’. It also features exclusive interviews with experts from the ILS market.
‘Reinsurance Hot Topics’ Webinars
CCR Re launched a new international event in 2021, a series of webinars called “Reinsurance Hot Topics”, which bring together leading reinsurance experts to discuss, in a roundtable discussion, topical issues that impact the reinsurance industry. The last topic discussed was ESG, its challenges and outlook.
The Apref’s morning sessions
Bertrand Labilloy took part in the Apref’s morning sessions in October 2022 on the theme: “Climate Change: Adapting and Acting”. With the acceleration of climate-related events, particularly in France, the time has come to adapt and act rather than predict. This roundtable focused on ways to slow down or even reverse the trend and increase resilience to climate change. The panel of speakers, all from the reinsurance industry, gave an account of the latest initiatives taken in the fields of the environment, agriculture and healthcare.
“IN 2022, THE CCR GROUP USED ITS RESERVES FOR VICTIMS OF THE DROUGHT AND SUCCESSFULLY PREPARED THE SPIN-OFF OF ITS SUBSIDIARY, CCR RE.”
JACQUES LE PAPE,
Chairman of the Board of Directors
2022, A TURNING POINT FOR THE CCR GROUP
In 2022, CCR fulfilled its mission by compensating, via the insurance companies it reinsures, French households that were victims of an exceptional drought. The intensity of the 2022 drought makes it the costliest event for the natural catastrophe compensation scheme since its inception.
At the same time, CCR, like all insurance and reinsurance companies, had to face the return of inflation after a long period of price stability. Fortunately, the reserves built up over the last twenty years enabled CCR to absorb the exceptional burden resulting from each of these exceptional shocks. The EUR 1.2 billion total allocated in 2022, is of the same order as the one in 2017 caused by Hurricanes Irma and Maria. However flattering, the positive outcome should not be misleading: CCR’s reserves absorbed these shocks but CCR now no longer has this stabiliser.
Moreover, the impact of these claims is compounded by the significant depreciation of the bond portfolio caused by rising interest rates.
However, the financial commitments made by CCR for the future, to support our fellow citizens who are victims of natural catastrophes, are still growing. Improvements have been made to the way in which claims are compensated, and CCR advised the government on these changes. Finally, the cost of the scheme will continue to rise under the long-term effects of climate change.
The question of the scheme’s financial resources therefore arises now: the level of premium surcharge, currently at 12%, needs to be reassessed.
In addition to its work on the natural disaster compensation scheme, CCR helped to implement support policies for travel operators affected by the lockdown effects, on the one hand, and for customers of energy suppliers in the context of the sharp rise in gas and electricity prices, on the other. CCR is thus manages a new public fund dedicated to guarantees for travel and tour operators on behalf of the French State, as well as a guarantee fund designed to replace margin calls paid by customers of energy suppliers.
The best news of FY2022 is that CCR Re, the market reinsurance subsidiary created in 2016, positioned itself well. In absolute terms, as well as in comparison to peers, it performed very well, with a sharp increase of its gross written premiums while maintaining the quality of its technical results and improving its operational efficiency.
Expected to close in the Summer 2023, the opening and increase of CCR Re’s share capital, which kept the teams busy throughout the year, will enable it to strengthen its balance sheet and continue on this fine trajectory. Its valuation of nearly EUR 1 billion and the quality of the IT platform it has developed make CCR Re a true ‘unicorn’ successfully incubated within the public sector.
This 2022 report is therefore the last one to be published jointly by CCR and CCR Re. This is an opportunity for me, on the fortieth anniversary of the natural catastrophe scheme, to thank, on behalf of the Board of Directors, all the teams for their dedication to serving the public and for their business acumen. Each of the Group’s employees, in their own field, will have worked hard in serving policyholders, insurers and public authorities.
CCR AT A CROSSROADS
BERTRAND LABILLOY, CCR Chief Executive Officer, CCR Re Chairman and Chief Executive Officer
ÉDOUARD VIEILLEFOND, Deputy Chief Executive Officer CCR
"2022 WAS A DIFFICULT YEAR FOR CCR, WHICH MANAGED TO FULFIL ITS MISSION DESPITE FACING MANY CHALLENGES.”
“2023 PROMISES TO BE A YEAR OF ENVIRONMENTAL CHALLENGES AND ONE OF TRANSFORMATION FOR THE GROUP.”
IN 2022, CCR recorded EUR 1,080 million in gross written premiums, a low 2.5% increase only due to the complete cessation of credit reinsurance. In Nat Cat and the terrorism segment, business grew by more than 8% in line with the French market.
The company had to face many challenges. Firstly, inflation, which led to adding around EUR 700 million in additional technical reserves (including those for the year’s losses). Secondly, climate disruption, which is confirmed year after year: for the fifth time in the last six years, France experienced a very serious drought. The 2022 drought was exceptional in many respects: its cost to CCR amounted to c. EUR 1.4 billion. It is the most expensive claim on record since the inception of the natural catastrophe compensation scheme in July 1982, ahead of the 2003 drought and Hurricane Irma in 2017.
The cost of inflation and Nat Cat losses fully absorbed the reserves built up in the past. The net income of EUR 67 million in 2022 is mainly due to reserve write-backs and to the financial result that these write-backs generated.
But it should not be misleading, and measures are needed to replenish reserves to cope with future large-scale claims. On the occasion of the fortieth anniversary of the creation of the scheme, CCR submitted a report to the French Minister of the Economy, Finance and Industrial and Digital Sovereignty, pointing out that in 1982, when the scheme was set up, the goal was to provide broad coverage to the French population, at an affordable cost and throughout the territories in mainland France and overseas. Forty years later, this goal has been achieved: 97% of properties in the country are covered and an average individual pays EUR 22 for the scheme as part of their comprehensive home insurance premium. Over the past forty years, the scheme has enabled the French to cope with a large number of catastrophes, while still protecting public finances. The State has only had to step in once, for very limited sums.
But climate change is beginning to put a strain on the financial equilibrium of the scheme, as evidenced by the very high claims experienced in the years 2016 to 2020 which eroded CCR’s reserves and significantly reducing them with the 2022 drought. Climate disruption will only exacerbate this trend and calls for adjustments so that the scheme can continue fulfilling its mission in the future and protecting individuals and businesses across the country.
In this respect, an increase in the rate of premium surcharge applied to natural catastrophes should take place both to replenish the reserves ex post and to size them ex ante to the evolution of the loss experience, of which Scientific studies carried out by CCR in close partnership with Météo-France show that the claims experience is set to increase by 50% by 2050, under IPCC’sRCP 8.5 scenario.
The third challenge that CCR took up in 2022 was that of modernising the natural catastrophe scheme by contributing to the statutory and regulatory work aimed at enhancing and consolidating it. It involves, first and foremost, the implementation of the Law of 28 December 2021, which improves the procedure for recognising natural catastrophes, the time required to process and compensate for them and strengthens the support provided to those affected. The experts also assisted the French public authorities in calibrating the measures taken by the 3DS Decree on the management of drought risks. CCR also encouraged ceding companies under the scheme and local authorities to implement natural hazard prevention measures. These efforts will help reduce the impact of future claims.
Finally, CCR is working with several government departments on the agricultural risk management reform project, acting as a technical expert to the French Ministry of Agriculture and Food Security and managing the National Agricultural Risk Management Fund (FNGRA). This expertise is shared with several state operators and public companies as well as with the French regulator, Autorité de Contrôle Prudentiel et de Résolution (ACPR), to which CCR acts as an advisor for the calibration of climate resilience tests.
The group also worked hard on preparing for the opening and increase of CCR Re’s share capital. This transaction will enable the market reinsurance business to pursue its growth with a new reference shareholder, while CCR will keep a 25% stake in CCR with a view to enhancing value of its assets in the long run.
2023 promises to be a year of environmental challenges and one of transformation for the Group. CCR and CCR Re are well positioned to assert their added value.
CCR, BOARD OF DIRECTORS
JACQUES LE PAPE
Chairman
DAMIEN ANDRIES
Director representing the employees
ARNAUD BAILLEUL
Director representing the employees
LAURENCE BARRY
Independent Director
NATHALIE BROUTELE
Independent Director, Chairwoman of the Strategy Committee, Chairwoman of the Remuneration, Nomination and Governance Committee
PIERRE CHAVY
Director appointed by the Shareholder’s Meeting as proposed by the French State
BRUNO CINOTTI
Director appointed by the Shareholder’s Meeting as proposed by the French State
PATRICE FORGET
Independent Director, Chairman of the Audit, Accounts and Risk Committee
MARTIN LANDAIS
Director representing the French State
VÉRONIQUE LEHIDEUX
Director appointed by the Shareholders on the proposal of the State
ANTOINE MANTEL
Director appointed by the Shareholder’s Meeting as proposed by the French State
MARIE-ROSE MARTINEZ
Director representing the employees
SOPHIE MASSET
Independent Director
DAVID MONCOULON
Director representing the employees
CHRISTEL SADLER
Director representing the employees
CCR RE, BOARD OF DIRECTORS
BERTRAND LABILLOY
Chairman - Chief Executive Officer
JACQUES LE PAPE
Director representing CCR
PATRICK CERCEAU
Independent Director
JOHN CONAN
Director representing the employees
CHARLES LEVI
Independent Director
ANTOINE MANTEL
Director appointed by the Shareholder’s Meeting as proposed by the French State
CCR GROUP, EXECUTIVE COMMITTEE
BERTRAND LABILLOY
Chief Executive Officer
ÉDOUARD VIEILLEFOND
Deputy Chief Executive Officer
LAURENT MONTADOR
Deputy Chief Executive Officer
ISABELLE BION
Chief Operations Officer
CHRYSTELLE BUSQUE
Chief Financial and Steering Officer
SYLVIE CHANH
Head of Legal, Claims & Services
THIERRY COHIGNAC
Deputy Chief Underwriting Officer, Public Reinsurance and Guaranty Funds
VINCENT GROS
Group General Counsel and Compliance Officer
MATHIEU HALM
Head of Retrocession and Alternative Capital
JÉRÔME ISENBART
Chief Risk Officer and Chief Actuary
SÉBASTIEN JALLET
Chief Investment Officer
MARLÈNE LARSONNEUR
Chief Human Resources Officer
HIND MECHBAL
Chief Information Officer
HERVÉ NESSI
Chief Underwriting Officer
ANTOINE QUANTIN
Chief Underwriting Officer, Public Reinsurance and Guaranty Funds
KARINE ROBIDOU
Deputy Chief Investment Officer, Head of Real Estate, Infrastructure and ESG Investments