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CCR Re, the French reinsurer, has announced Sébastien Jallet as its new Head of Investment.
Jallet will be responsible for managing CCR Re’s investments and will report to Executive Management.
Paris-based CCR Re was created in 2016 as a wholly-owned subsidiary of CCR, dedicated to open market reinsurance activities. In July 2023, the control of CCR Re was sold to a consortium formed by French insurer SMABTP and MACSF – the mutual insurance company for the French health service – in connection with a capital increase of €200 million.
The company has a presence in 80 countries and operates in the traditional sectors of property damage and civil liability and life & health as well as certain specialised areas (credit, marine, aviation, spatial, agriculture).
In its statement on Jallet’s appointment, the company said he had previously been Head of Investment for CCR for the previous five years and as such was also responsible for CCR Re investments.
Prior to this, he was Head of Fixed Income Insurance at Ostrum Asset Management, after being Head of Fixed Income Management at Generali Investment France. He initially began his career at Prepar Vie (Group: BRED Banque Populaire) where he carried out various roles.
“His 30 years of experience with major insurance companies along with his practice of responsible investing are major assets for the company’s success.”
Jallet is a graduate of the ENSAE school of economics, statistics & finance with a postgraduate diploma in Probability from the University of Paris VI.
“We are delighted to welcome Sébastien Jallet to CCR Re.” said Bertrand Labilloy, CCR Re’s Chief Executive Officer. “His 30 years of management experience with major insurance companies along with his practice of responsible investing are major assets for the company’s success.”
In 2023, CCR RE achieved a gross turnover of €1.186 million with a net income of €56 million euros.
According to its 2023 results, which were released in April, it saw a Return on Investment of 2.4%, which was up from 2.3% in 2022. It has €3.6 billion in managed assets, including €1 billion in ESG assets.
Other recent hires in the space include specialist insurer Convex, which hired former GAM Investment staffer, David Dowsett, as its new Chief Investment Officer (CIO) and Juan Bernal taking on the role at MAPFRE after top table reshuffle.
