Reinsurance News
China Re
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
China Re launches nation’s first commercial earthquake cat model
27th August 2019
China Reinsurance Corporation (China Re) has launched a new proprietary commercial earthquake catastrophe model for China, which aims to benefit the country’s re/insurance sector through improved costs and accuracy. China Earthquake Catastrophe Model v2.0, which has been certified by the Seismological Society of China, is also expected to fundamentally change the ... Read the full article
China Re estimates up to 45% uplift in first-half profits
6th August 2019
China Reinsurance Corporation (China Re) has put a preliminary estimate for its first-half 2019 results, suggesting as much as a 45% uplift in profits is to be expected. For the first six months of 2019, China Re's estimates suggest that net profit attributable to equity shareholders in the reinsurer may be ... Read the full article
China Re partners with Portugal’s Fidelidade on Belt & Road projects
22nd July 2019
China Re has entered into a new partnership with Portuguese insurer Fidelidade to help support Chinese investments under the ambitious Belt and Road initiative. Working together, the companies will contribute to the implementation of reinsurance solutions for projects in Portugal, Spain, France, Angola, Mozambique, Cape Verde and Peru. The announcement comes shortly ... Read the full article
MAPFRE & China Re to collaborate on Belt and Road re/insurance projects
9th July 2019
Spanish re/insurance firm MAPFRE has announced a new partnership with China Re, which will see them collaborate on insuring investments related to China’s massive infrastructure plan, the Belt and Road Initiative (BRI). As part of the agreement, which was marked by a memorandum of understanding, MAPFRE will offer insurance and reinsurance ... Read the full article
China Re appoints Liu Xiaopeng as Non-Executive Director
24th June 2019
The Board of Directors of China Reinsurance Corporation (China Re) has approved the nomination of Liu Xiaopeng as a Non-Executive Director for the Board's fourth session. Xiaopeng is currently the director of the strategic operations of Gome Holdings Group Company Limited, an industrial conglomerate that operates in retail, finance, real estate, ... Read the full article
All elements of China Re’s Chaucer acquisition now finalised
11th April 2019
International specialty insurance and reinsurance group, Chaucer, has announced that China Reinsurance Corporation (China Re) has completed the acquisition of Chaucer Insurance Company DAC in Ireland and SLE in Australia, from The Hanover Insurance Group, Inc. China Re announced it had finalised its takeover of Chaucer in December 2018, noting ... Read the full article
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
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