SMABTP and MACSF completed the acquisition of a 70% stake in CCR RE from Caisse Centrale de Reassurance for €700m.

SMABTP, an insurance company, and MACSF, an insurance agency in Strasbourg, France, completed the acquisition of a 70% stake in CCR RE, the market reinsurance subsidiary of Caisse Centrale de Reassurance, a reinsurance company, for €700m. “SMABTP is delighted to have seized this strategic opportunity which allows us to diversify our sources of revenue whilst maintaining the soul of our profession. With regards to CCR RE, this operation will allow them in time to reach both the size and critical profitability required to self-finance their growth at the same speed as the market. This is will also strengthen their financial solidity," Pierre Esparbes, SMABTP Chief Executive Officer.