CCN Group: 1H2021's performance entitles confidence in a positive evolution in the second part of the year

28 July 2021 — Daniela GHETU
"Our first half year performance, showed solid resilience and further improved compared with 1H'20 and also compared with 1Q2021," states a recently released communication of the CCN Group mentioning "good underlying business activities and stable income and cash-flow" as well as "intensified digital transformation process" as success factors.

CCN Group with its well-diversified business portfolio and geographical spread has continued to successfully navigate through the current crisis and has achieved solid performance during first half year of 2021.

"The pandemic continues to be a challenge for all industries. The remaining part of this year won't be any less challenging, but the performance during the first half year of 2021 makes us confident that we will see a stable and solid performance also for the remainder of 2021," said Cees Werff, Chief Executive Officer of CCN Group.

CCN Group first half year performance amounted to a +10% growth percent, mainly driven by the Workers Compensation/Accident business segment, which saw an eminent 48% growth compared with first half year of 2020. In the Automotive business segment, CCN performance improved in the second quarter, due to decreased COVID-19-related effects. Operating performance from the Transport/Logistic business segment showed strong recovery due to positive economic circumstances and grew by 6%, while the Travel business segment is still impacted due to continued travel restriction measures, imposed by most countries worldwide, but possibly improving in the next quarter.

Due to a partly adjusted business strategy, the CCN Group has been able to achieve double digit revenue growth over the first half 2021. This is mainly due to the fact that the Group was able to sign-up new customers and that it focused on diversification. CCN has also made significant investments in IT which allows providing its customers with even better service as well as work more effective internally.

For the second part of 2021, the Group expects insurers will focus on improving their CX and invest in their ability to keep up with the needs of their customers. "CCN is committed and ready to assist the insurance markets to engage in new CX strategies," the Group said.

About CCN Group

The Claims Corporation Network (CCN) Group is an European TPA Claims Service Provider. CCN handles cross-border claims within and beyond the European Union for insurance carriers, brokers and fleet-owners. We offer custom-made solutions within the fleet claims situation and also provide European Road Mobility service, including towing assistance, claims - & repair management as well as repatriation and recovery (regress) service. The CCN Group is headquartered in Amsterdam, Netherlands and its network covers 34 countries through 6 regional hubs: Benelux, Scandinavia, Central Europe, South Western Europe, Eastern Europe, South Eastern Europe.

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