Reinsurance News

China Re

China Re launches renewable energy consortium at Lloyd’s

11th March 2019

China Re Corporation has announced the launch of a renewable energy consortium at Lloyd’s, focused on reinsurance for the construction and operation of offshore wind farms in mainland China. China Re’s Syndicate 2088 manages and co-leads the consortium alongside Canopius Syndicate 4444 and Travelers Syndicate 5000. It is also supported Chaucer Syndicate ... Read the full article

China Re completes acquisition of Chaucer

31st December 2018

China Re has successfully completed its previously announced acquisition of the holding company of Chaucer, the London-based and Lloyd's focused specialty re/insurance business of The Hanover. The transaction was valued at around $950 million, made up of a cash consideration of $865 million paid by Hong Kong listed China Re, ... Read the full article

European Commission approves China Re’s acquisition of Chaucer

19th December 2018

The European Commission has approved China Re’s previously announced acquisition of Chaucer, concluding that the deal does not give rise to any competition concerns. The EU governing body explained that the proposed transaction may entail “horizontal overlaps between the companies’ activities,” but would ultimately raise no competition concerns given the ... Read the full article

China Re Life approved to issue capital bonds up to $720mn

15th November 2018

China Re has announced that its subsidiary, China Life Reinsurance Company Ltd. (China Re Life), has been approved to publicly issue 10-year redeemable capital supplementary bonds with a size of up to RMB 5 billion (US $720 million). The life reinsurer will be able to issue the bonds in the National ... Read the full article

China Re acquires Chaucer from The Hanover in $950m deal

13th September 2018

China Re, one of Asia’s leading reinsurers, has acquired The Hanover’s London-based Specialty business Chaucer in a deal that totals $950 million and accelerates the state-backed group's international development. The transaction includes a cash consideration from China Re of $865 million and a pre-signing dividend from Chaucer of $85 million, received ... Read the full article

China Re launches new earthquake catastrophe model

25th May 2018

State-backed reinsurer China Re Group has launched a new earthquake catastrophe model with independent intellectual property rights to improve the accuracy of earthquake loss assessment in China’s re/insurance industry. The new model was developed in collaboration with state-level scientific research institutions and factors in China’s unique geological structure, seismic activity characteristics, ... Read the full article

Fitch expects Asian reinsurers to increase use of debt capital

8th August 2017

Fitch Ratings expects the Asian bond market to gain traction in the near to medium term as the persistent low-interest rate environment fuels reinsurers in the region to look at debt capital over equity funding. The majority of reinsurance companies across Asia are equity-funded, but in a low-interest rate environment, which ... Read the full article

Reinsurer launches first catastrophe research centre in China

5th July 2017

China's largest reinsurance company, China Re, has launched the first centre dedicated to catastrophe, weather and natural disaster research in the country. It is the first research institution focusing on disasters and through its work China Re hopes that new technologies and services can be developed, which will support the development ... Read the full article

China Re reports $845m of written premium for first two months of 2017

16th March 2017

China is a target market for insurance and reinsurance players, but lately it hasn't been particularly easy-going, with reports of major reinsurers pulling-back as domestic players begin to dominate the market. Today, China Re, the largest domestic player in both insurance and reinsurance, has reported its premium income for the ... Read the full article

China Re expects up to 35% profit dip in 2016 as investment income declines

28th February 2017

Chinese, public reinsurer China Reinsurance Corporation (China Re) has announced that it expects its net profit attributable to its equity shareholders to decline by between 30% to 35% in 2016, when compared with the previous year, in response to low investment income. According to a note issued by the company on the ... Read the full article

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