Companies must seize ILS development in France

Bertrand Labilloy, chief executive of CCR and chairman and chief executive of CCR Re is also looking for price increases across the book given negative interest rates in Europe.

As Paris looks to cement its position as an ILS-friendly jurisdiction, Bertrand Labilloy, chief executive of CCR and chairman and chief executive of CCR Re, told The Insurer its recently launched sidecar is a demonstration of its support for this growing market.

“We set up a new sidecar for mainly internal reasons for supporting our business development, but at the same time, we took the opportunity to develop the ILS market in France,” he said.

“We hope our competitors and our partners [will] seize this opportunity for their own purposes,” he added.

On the subject of 1.1 renewals, Labilloy said CCR is looking at some price increases.

“We are looking at some price increases in cat risk depending on the cat experience [for the remainder of the year] but also we are promoting the general increase for the price of long-term business lines following the increase in interest rates which are now negative in Europe and in other parts of the world,” he said.

While discussing what is on the horizon for CCR, Labilloy said the carrier plans to continue to develop its book.

“We have been very successful in the last two years with 15 to 20 percent growth and we still want to serve our clients better and to improve the platform for years to come,” he said.