In July 2015, Mr. Li Xiaoxuan from the Actuarial and Risk Management Department became the first person in China to obtain an RMS-Certified Catastrophe Risk Analyst (CCRA) qualification, after successfully passing the relevant examinations.
China Re P&C took the lead in introducing catastrophe models from internationally renowned modelling companies including RMS and AIR as early as 2010. After sponsoring the first Chinese national to qualify for AIR’s Certified Catastrophe Modeller (CCM) title in China in 2014, China Re P&C gave its full support to Li Xiaoxuan as the country’s first CCRA qualifier. These developments signal the company’s considerable progress in the field of catastrophe modelling and professional team- building, as well as its unique professional advantages in catastrophe risk management.
In recent years, China Re P&C has been active in supporting the catastrophe insurance pilot programs carried out by various provincial and municipal governments by providing optimal reinsurance solutions. In July 2015, China’s first catastrophe bond was successfully issued by the company in the overseas market, which marks a trend towards leveraging capital markets in order to explore new options for managing catastrophe risk.
China Re P&C’s years of research and exploration in catastrophe risk have had a positive impact on the national catastrophe risk management system and the development of catastrophe insurance in China.
