Cees Werff, Chief Executive Officer of CCN Group, declared: "The pandemic continues to be a challenge for all industries. Nevertheless, CCN Group has achieved robust performance and shown a remarkable resilience during the whole year 2020. 2021 won't be any less challenging, but on behalf of all my colleagues, I can say confidently that this crisis will only push us to work harder towards building a CCN Group that is ready for anything the future brings. The performance in 2020 makes us confident that we will see a stable performance also in 2021."
The annual increase was mostly driven by the Workers Compensation/Accident business segment, which saw an eminent growth compared with 2019. COVID-19 has affected instead the motor business segment, were the performance dropped. Transport/Logistic business segment was less affected by the COVID-19 effects, and the travel business segment saw an improvement during the third quarter when travelling resumed, but was impacted due to continued travel restriction measures, during the fourth quarter, imposed by most countries worldwide.
During the second half of 2020 the performance growth improved and bucked the negative performance over the first half of 2020, showing the resilience in the different Lines of Business. Especially the Scandinavian operation performance remained robust and recorded continues growth driven by increased activities during the second half of 2020.
The CCN Group strategy remains on track. 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 2020.