China Re now stands as an active participant in the global reinsurance market. Our international business practices, comprising of three underwriting platforms, have grown in step with the steady expansion of our global business footprint.
The Beijing-based International Business Department is the core platform of China Re P&C writing short-tail P&C reinsurance worldwide, excluding the Asia-Pacific region. In addition, China Re P&C is entrusted with the management of two overseas platforms, namely, China Re Singapore which focuses mainly on Asia-Pacific markets, and Chaucer Insurance Group which writes global insurance and reinsurance business. All three platforms operate independently with separate capital bases.
The total GWP of all three platforms combined reached USD 3.3 billion in 2023 at a combined ratio of 85.7%.