China Re Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/china-re/ Sat, 31 Aug 2024 02:36:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 China Re H1 2024 insurance revenue of domestic P&C reinsurance up 17.5% to US$3.3bn https://insuranceasianews.com/china-re-cor-up-89-insurance-revenue-up-17-5-to-us2-8bn/ Sat, 31 Aug 2024 02:29:18 +0000 https://insuranceasianews.com/?p=161731 Overseas P&C reinsurance and Chaucer and P&C insurance divisions grew 10.2% and 2.6% year-on-year, respectively.

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China Re has recorded the insurance revenue from the domestic P&C reinsurance business at CNY23.5 billion (US$3.3 billion) for the first six months of 2024 (H1 2024), a 17.5% increase compared to ...

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]]> China Re’s COR to improve in next two years on portfolio overhaul: S&P Global https://insuranceasianews.com/china-res-cor-to-improve-in-next-two-years-on-portfolio-overhaul-sp-global/ Fri, 26 Jul 2024 05:51:01 +0000 https://insuranceasianews.com/?p=159077 The state-owned reinsurer's combined ratio will likely lower to 99% from the five-year average of 102.1%. The rating agency has also affirmed its "A" rating and "stable" outlook.

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China Re Group’s combined ratio will range from 99% to 101% over the next two years, compared with a five-year historical average of 102.1%, supported by its effort in portfolio overhaul which will li...

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]]> China Re extends US$85.4bn cover to Belt & Road projects via reinsurance pool: report https://insuranceasianews.com/china-re-extends-us85-4bn-cover-to-belt-road-projects-via-reinsurance-pool/ Fri, 21 Jun 2024 09:32:39 +0000 https://insuranceasianews.com/?p=156522 Through China Belt & Road (B&R) Reinsurance Pool, the reinsurer has been providing risk protection to over 1,000 Chinese corporates' offshore projects over the past three years, president Zhuang Qianzhi says.

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China Re has provided risk protection worth CNY 620 billion (US$85.4 billion) for over 1,000 Chinese corporates’ offshore projects along the Belt & Road initiative over the past three years, accor...

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]]> HK Insurance Authority courts Chinese insurers, municipalities to grow cat bond hub https://insuranceasianews.com/hk-insurance-authority-courts-chinese-insurers-municipalities-to-grow-cat-bond-hub/ Sun, 14 Apr 2024 23:30:37 +0000 https://insuranceasianews.com/?p=151529 The regulator is reaching out to Chinese (re)insurers and local governments as it seeks to entice potential cat bond issuers to the city and build an insurance-linked securities hub for the Greater Bay Area.

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Hong Kong’s Insurance Authority (HKIA) is reaching out to Chinese local governments, municipalities and (re)insurers to engage their interests in issuing cat bonds as it introduces more initiatives to...

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]]> China Re returns to profit on strong FY2023 primary P&C, overseas growth https://insuranceasianews.com/china-re-returns-to-profit-on-strong-fy2023-primary-pc-overseas-growth/ Thu, 28 Mar 2024 07:50:27 +0000 https://insuranceasianews.com/?p=149983 China's largest P&C reinsurer said lower cat losses, and improved rate conditions at its wholly-owned Chaucer also helped it achieve a 18% growth in overseas reinsurance gross written premium.

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China Re, the country’s largest property & casualty reinsurer, reported a net profit attributable to shareholders totalling CNY5.7 billion (US$790 million) from a restated net loss, helped by a tu...

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]]> China Re, PICC team up to form rule-setting body for typhoon, flood risks: report https://insuranceasianews.com/chinas-state-backed-rule-setting-body-debuts-with-typhoon-flood-risks-report/ Tue, 05 Mar 2024 23:30:16 +0000 https://insuranceasianews.com/?p=147879 The state-backed working group seeks to build a risk assessment platform to offer tailored insurance coverage for the two perils.

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China Property & Casualty Reinsurance (China Re P&C) and PICC Property & Casualty have teamed up to build a dedicated nat cat standard-setting body targeting typhoon and flood risks.
The g...

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]]> China Re can absorb Great Wall AMC write-off hit: S&P Global https://insuranceasianews.com/china-re-can-absorb-great-wall-amc-write-off-hit-sp-global/ Wed, 24 Jan 2024 04:18:06 +0000 https://insuranceasianews.com/?p=144707 Losses from a potential full write-off of the reinsurer's 6.5% stake in the state-owned bad debt manager would be within the reinsurer's capital buffer backing its rating.

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China Reinsurance (Group) has sufficient capacity to absorb a potential full write-off of its 6.5% stake in China Great Wall Asset Management, as the reduction in net income caused by such a move woul...

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]]> China’s ‘real estate development model 2.0′ keeps non-life insurers’ growth buoyant https://insuranceasianews.com/chinas-real-estate-development-model-2-0-keeps-non-life-insurers-growth-buoyant/ Mon, 15 Jan 2024 23:40:14 +0000 https://insuranceasianews.com/?p=144054 Government spending on affordable housing and public facilities will cushion insurers from the sector's downturn, sustaining the country's P&C premium growth of at least 7% for 2023 and 2024.

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Chinese government’s plan to bolster spending on affordable housing and public facilities, touted as the country’s “new model of real estate development”, should cushion the non-life insurance market ...

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]]> PICC, China Re, China Taiping have ‘trillions of yuan’ exposure to Belt & Road projects, nat cat https://insuranceasianews.com/picc-china-re-china-taiping-cover-belt-road-project-nat-cat-with-trillions-of-yuan-insured/ Sun, 07 Jan 2024 23:05:51 +0000 https://insuranceasianews.com/?p=143402 The three leading Chinese (re)insurers said they provided coverage to the country's high-tech, aerospace sectors, infra projects and cat relief with the sum insured amounting to several trillion yuan each.

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Senior executives at People’s Insurance Co (Group) of China (PICC), China Taiping Insurance Group, and China Re, said that in 2023 they had provided coverage to support the needs of China’s high-tech ...

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]]> China rolls out red carpet for foreign marine insurers to boost reinsurance capability https://insuranceasianews.com/china-rolls-out-red-carpet-for-foreign-marine-insurers-to-boost-reinsurance-capability/ Wed, 13 Dec 2023 22:54:50 +0000 https://insuranceasianews.com/?p=140168 Local insurers' underwriting and loss prevention capabilities can be improved, according to a guiding opinion jointly issued by the central bank and several financial regulators.

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Three Chinese financial regulators and the People’s Bank of China have called on foreign insurers to set up branches in China and further develop international marine reinsurance business, as they out...

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