Data with high security requirements is being processed and stored with increasing frequency in the Cloud. To guarantee that the data is being dealt in a secure manner we investigate the applicability of Assurance methodologies. In a typical Cloud environment the setup of multiple layers and different stakeholders determines security properties of individual components that are used to compose Cloud applications. We present a methodology adapted from Common Criteria for aggregating information reflecting the security properties of individual constituent components of Cloud applications. This aggregated information is used to categorise overall application security in terms of Assurance Levels and to provide a continuous assurance level evaluation. It gives the service owner an overview of the security of his service, without requiring detailed manual analyses of log files.