French state-owned reinsurer CCR is withdrawing from Thailand, Australia and New Zealand in the wake of heavy catastrophe losses this year, The Insurance Insider can reveal.
In a letter to clients and brokers sent this week (see here), CCR said that it would not be renewing any of its contracts in these territories at 1 January.
According to underwriting sources in regional hub Singapore, CCR has a Thai P&C reinsurance market share of as high as 15 percent. Although the...
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