France’s CCR appoints new risk director in reshuffle

French state nat cat reinsurer CCR has named Jérôme Spagnol as risk director, taking over the role from François-Xavier Hay, who has been appointed investment director at CCR.

Spagnol has worked at CCR since December 2023 as head of ALM and Solvency II, having joined the reinsurer from Périclès, where he was a partner and director of life actuarial and modelling.

“Spagnol is an expert in modelling, risk management and steering the profitability of insurance companies,” CCR said.

Hay had overseen the role of risk director at CCR since December 2023, having joined the French reinsurer from a career spanning natural disaster reinsurance at the Mutuelles du Mans Ré in Canada to founding Wingsure, an agri-insurtech developing artificial intelligence and image analysis technologies in partnership with SRI International.

Hay takes over as director of investments at CCR from Sébastien Jallet, who has moved to CCR Re as head of investments. Announcing his appointment, CCR Re said Jallet brings 30 years of management experience for major insurance companies as well as expertise in asset management and green investment.

Edouard Vieillefond, managing director of CCR, thanked Jallet for leading CCR’s investment team for the past five years, adding that the reinsurer will continue momentum to meet the challenges facing a public reinsurer “in the interests of the insurability of our territories”.

Last year, CCR sold a 75% stake in CCR Re to French mutuals SMABTP and MACSF, retaining a minority shareholding of 25%.