Reinsurance News

China Re

China Re sees significant net income growth in Q1 2023, raises capital

5th May 2023

China Reinsurance Group (China Re), the country’s largest reinsurer, has published its first quarter of 2023 results, reporting an increased net profit of RMB 1,235 million and a combined ratio - at its own level - of 103.35%. In the same period last year, the Group reported RMB 463 million in ... Read the full article

AM Best upgrades China Re ratings

21st November 2022

AM Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A of China Reinsurance (Group) Corporation (China Re) (China) and its subsidiaries. According to AM Best, China Re’s ratings reflect its balance sheet strength, which AM Best assesses as very ... Read the full article

Investment volatility to constrain China Re earnings: S&P

5th September 2022

Analysts at S&P Global Ratings have warned that investment market volatility will constrain China Reinsurance (Group) Corp.'s earnings, potentially eating into its capital buffer and potentially eclipsing the progress it has made in overhauling its underwriting. The rating agency notes that China Re is more susceptible to credit and market risks ... Read the full article

Fitch highlights impact of inflation & nat cats on Asian reinsurance market

31st August 2022

Inflation and natural catastrophes are set to moderately increase pricing and squeeze underwriting margins in the Asian reinsurance market, says Fitch Ratings. According to Guy Carpenter, risk-weighted prices rose by 1%-5% in Japan for programmes covering the country’s 2021 windstorm, with the average price for typhoon risk reaching a 25-year high. ... Read the full article

Munich Re remains the world’s largest reinsurance company

17th August 2022

After taking the top spot last year, global reinsurer Munich Re remains the world's largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the Top 50 Global Reinsurance Groups. The directory is ... Read the full article

China Re sees rise in profits and premiums for 2021

29th April 2022

China's largest reinsurance company, China Re, has reported an 8% year-on-year rise in net profit to RMB 6,390 million (USD 970mn) for the full-year 2021, as gross written premiums (GWP) jumped by almost 1%. For 2021, net profit attributable to equity shareholders of the company totalled RMB 6,363 million (USD 966mn), ... Read the full article

China Re sponsors first Hong Kong cat bond, Greater Bay Re

1st October 2021

State-owned reinsurer China Re has secured $30 million of typhoon cover as the sponsor of the first catastrophe bond to be issued out of Hong Kong. According to reports from our ILS-focused sister publication, Artemis, the now-completed Greater Bay Re Ltd. (Series 2021-1) cat bond was privately marketed to a ... Read the full article

China Re expecting up to 65% H1 profit growth

23rd July 2021

China Reinsurance Group (China Re), the country’s largest reinsurer, has released a preliminary estimate of its results for the first half of 2021, which states that net profit will be up by between 55% and 65%. The company’s profits dipped by 24% to roughly RMB 2.467 billion (USD 380.8 million) ... Read the full article

China Re exec director Ren Xiaobing resigns

25th February 2021

China Re has announced the resignation of its executive director Ren Xiaobing, whose departure from the company will come into effect from 25 February. In the official announcement from China Re, Xiaobing said that he has no disagreement with the board, and there are no other matters that should be brought ... Read the full article

Average combined ratio of the world’s top reinsurers declined in 2019

2nd September 2020

Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article

China Re’s GWP climbs 21% in H1 2020 as profit dips

1st September 2020

China Reinsurance (Group) Corporation has announced a 24% dip in net profit for the first-half of 2020 while gross written premiums (GWP) jumped by almost 21% in the period. Overall, the reinsurer's GWP reached RMB102.1 billion in H1 2020, with growth of 17.6% in P&C reinsurance, 31.4% in L&H reinsurance, and ... Read the full article

China Re’s overseas P&C reinsurance segment boosted by Chaucer in 2019

6th April 2020

China Reinsurance Corporation (China Re) has reported premium growth and a rise in net profit for 2019, driven in part by the strong performance of its P&C Reinsurance segment and the inclusion of Chaucer business. At RMB144,973 million, China Re's gross written premiums (GWP) increased by 18.6% year-on-year. At the same ... Read the full article

China Re eyes US business entity

1st April 2020

China Reinsurance Group, the country’s largest reinsurer, could be eyeing a move into the US. The company revealed that it is carefully considering a plan to set up a business entity in the US based on global strategy and the implementation of the Sino-US phase one trade deal. The phase one deal ... Read the full article

COVID-19 will increase demand for health insurance, says China Re

1st April 2020

China Re has said that it expects the coronavirus (COVID-19) pandemic to accelerate the development of the re/insurance industry by further motivating demand for health insurance and raising the importance of online technology and digital transformation. For the life and health reinsurance market, ceding demand for domestic health insurance will remain ... Read the full article

China Re targets overseas expansion with Hong Kong subsidiary

16th December 2019

China Re Group is set to launch a new fully-owned subsidiary, China Reinsurance Hong Kong Co. Ltd. (China Re HK), which is expected to play a vital role in the company's overseas expansion plans for its life reinsurance business. The new subsidiary will have the benefit of being able to leverage ... Read the full article