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China Re Group vows to expand international business in 2020

April 01, 2020


Abstract : China Re Group, a leading state-owned reinsurance group in China, determined to increase the proportion of the group's international business in 2020, reported Xinhua Finance, a financial information platform run by Xinhua News Agency on Tuesday.

BEIJING, April 1 (Xinhua) -- China Re Group, a leading state-owned reinsurance group in China, determined to increase the proportion of the group's international business in 2020, reported Xinhua Finance, a financial information platform run by Xinhua News Agency on Tuesday.

Addressing at the China Re Group's 2019 Annual Results Announcement held on March 31, Yuan Linjiang, the chairman of the group, said that the company will strengthen the "going global" development strategy in 2020, as well as enhance risk management capability.

China Re Group has been unswerving in its "going global" strategy to improve the ability and influence of China's reinsurance industry in providing technical services overseas and becoming an important player in the international reinsurance market.

Photo: 2019 Annual Results Announcement of China Re Group

In 2018, China Re Group acquired Chaucer, a leading specialty insurance group based in the UK, marking a significant measure to the Belt and Road construction.

At the end of 2019, China Re HK, a subsidiary of China Re Group was set up in Hong Kong. According to Qin Hongbo, the strategic director of China Re Group, China Re HK is expected to bring up the group's insurance premium in 2020.

In 2020, China Re HK will facilitate international businesses in the fields of management models, governance structures, risk control, as well as IT and talent exchange, Yuan added. (Contributed by Zhang Siwen, edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)

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Keyword: insurance industry

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