About Us

Current position:Home > About Us > Message from General Manager

Message from General Manager

General Manager LI Yuanyuan

  Reform, innovation, support for China’s economy and insurance industry are the highlights of 2014 for China Re P&C. On the one hand, we stood up against the headwinds of a difficult economic environment and soft market to offer our clients solid reinsurance capacity and risk management solutions. On the other hand, as the only national reinsurer, we actively adapted to market changes and advocated reform where it was necessary. We accomplished all the business goals that we set for ourselves at the beginning of 2014, and finished the year with a reinsurance premium income of RMB 29.30 billion, an after-tax profit of RMB 1.43 billion, and total assets worth RMB 45.58 billion.

  Reform, innovation, support for China’s economy and insurance industry are the highlights of 2014 for China Re P&C. On the one hand, we stood up against the headwinds of a difficult economic environment and soft market to offer our clients solid reinsurance capacity and risk management solutions. On the other hand, as the only national reinsurer, we actively adapted to market changes and advocated reform where it was necessary. We accomplished all the business goals that we set for ourselves at the beginning of 2014, and finished the year with a reinsurance premium income of RMB 29.30 billion, an after-tax profit of RMB 1.43 billion, and total assets worth RMB 45.58 billion.

  We reinforced our dominant position on all fronts. Thanks to our strong partnership with more than 60 domestic P&C insurance companies, as well as our market share and business volume, we remain a lead reinsurer of choice on domestic treaty business. We continue to meet the unique needs of our clients and help grow their business value.

  To support the country and the local insurance industry, we coordinated with regulatory authorities in establishing the China Agricultural Reinsurance Pool (CARP), of which we are pleased to be entrusted as managers. In addition, we actively participated in launching domestic catastrophe insurance pilot programs, along with major projects such as the China Risk-Oriented Solvency System (C-ROSS) and the deregulation of motor insurance tariffs.

  We continue to improve our internal management processes. We foster an environment that accelerates synergies in strategic thinking and goal execution across China Re P&C’s business teams. We launched the Reinsurance Enterprise Analysis & Pricing System (REAPS), a proprietary analytical tool that significantly enhances our ability to analyze and price our risk portfolios. In collaboration with RMS, an internationally recognized authority on catastrophe modeling, we successfully updated our China Typhoon model. We improved the application of our economic capital model and redesigned our technical accounting team’s processes to provide better support of our business development goals.

  We seek to fortify our role in the insurance industry as innovators of thought and leadership. We offered 234 customized solutions for our clients in 2014, ranging from data and pricing analysis to economic capital model applications. We organized the fourth China P&C Reinsurance Market Forum and the second China P&C Insurance CEO Roundtable Meeting, both of which provide platforms for high-level professional communication in China’s P&C insurance industry.

  2015 is the last year of China Re P&C’s “Five-Year Strategic Plan,” and marks a crucial moment as we journey into the future. As we look back at our accomplishments and look forward to the challenges of our next five-year cycle, our focus remains on the long-term sustainability of the China Re P&C brand. We will seize opportunities for strategic growth under the “Ten New Insurance Regulations.” We will continue to adapt to regulatory and market changes, improve our overall competitive strength through innovative thinking, and strive for a brighter future with determination and hard work.

Copyright of 2008 Chinese Reinsurance (Group) Limited by Share Ltd All Rights Reserved
All rights reserved copy Beijing ICP No. 09068819