Property & Casualty Reinsurance

Introduction

As the largest professional property & casualty reinsurer in China, we provide a wide range of reinsurance products and service, from traditional lines to innovative products, including but not limited to motor, commercial and household property, engineering, marine hull & cargo, liability, credit & guarantee, personal accident, health, agriculture, space & aviation, energy, nuclear, etc.

Inherent Defect Insurance (IDI)

Compensates the damage of the insured building caused by the potential defect of the project quality within the warranty scope and warranty period.

Political Violence

Indemnifies the insured for material damage and business interruption loss caused by insured events including terrorism, sabotage, malicious damage, riots, strikes, civil commotion, invasion, acts of foreign enemies, hostilities (whether war be declared or not) civil war, rebellion, revolution, coup , insurrection or mutiny, war, etc.

Kidnap & Ransom

Indemnifies the insured for loss caused by insured events including kidnapping, extortion, hijacking and wrongful detention. It also provides the insured with a variety of professional crisis management services through professional consultants.

Nat Cat Insurance

Our Parametric Nat Cat Insurance products are based on Chinese authoritative data. The triggers are designed through scientific analysis, and the payout structure is transparent and can be customized. If a defined event occurs or the index threshold is met, the policy is triggered and a pre-agreed payout takes place within days without a claim to be filed. As a pioneer of catastrophe insurance, China Re P&C has promoted the parametric insurance products in many regions across the country.

Integrated Solutions

Inherent Defect Insurance (IDI)

Compensates the damage of the insured building caused by the potential defect of the project quality within the warranty scope and warranty period.

Political Violence

Kidnap & Ransom

Nat Cat Insurance

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Business System

01 China Re exposure curves

Derived from analysis into aggregated industry loss data, China Re exposure curves offer the average loss level information and nature of risks within domestic P&C industry. With China Re exposure curves, companies who lack empirical data are now capable of setting deductibles and policy rates, and excess of loss reinsurance pricing, as well as optimizing reinsurance arrangement. To date, China Re has developed eight property and marine exposure curves.

02 The “Cat Risk Platform” (CRP)

The “Cat Risk Platform” (CRP) consists of three sections, namely, “Cat Risk Overview” (CRO), “Cat Risk Model” (CRM), and “Cat Risk Consult” (CRC), providing strong technical support for catastrophe risk management. CRO is designed to provide flexible data management and visualization function; CRM of independent intellectual property rights aims to carry out catastrophe loss assessment and develop catastrophe (re)insurance；CRC organizes expert consultations for natural disaster events.

03 High-value motor insurance rating system

High-value motor insurance rating system is a new online underwriting and rating system for high-value vehicles, researched and developed by China Re P&C’s Insurance Data and Experience Analysis Center of (IDEA Center) in 2015. Being China’s only platform that is capable of arranging both proportional and non-proportional high-value motor reinsurance, the system offers effective mechanism for enhancing underwriting efficiency and providing reinsurance support. Companies who lack of empirical data are now capable of reinsurance ratemaking and arrangement.

04 General aviation insurance rating system

China Re P&C’s general aviation insurance rating system is China’s pioneering online system that integrates general aviation insurance pricing and portfolio management. Based on global navigation data and generalized linear modeling, the system can quote coverage of aircraft hull, passenger liability and third-party liability and assist with portfolio management.

05 Environmental impairment liability insurance rating system

The environmental impairment liability insurance rating system is an automated online underwriting and rating system for environmental impairment liability insurance, researched and developed by Insurance Data and Experience Analysis Center of China Re P&C (IDEA Center) in 2017. Based on China’s Enterprise Environmental Risk Classification the system can set the pure premium for environmental impairment liability by analyzing an enterprise’s environmental risk factors and quantifying the economic loss it may incur, thus serving as an integrated platform for insurance ratemaking and risk management.

06 Health insurance rating system

The health insurance rating system was jointly developed by China Re P&C and China Re Life in 2018. It is a pioneering online system that integrates health insurance ratemaking and underwriting portfolio management, and, China’s only platform that can price health reinsurance online, especially for those ceding , companies who lack empirical data.

07 Named-peril insurance rating system

The named-peril insurance rating system is an express edition application for earthquake & typhoon insurance ratemaking. Researched and developed by Insurance Data and Experience Analysis Center of China Re P&C (IDEA Center), that the system integrates both catastrophe model research and empirical data analysis, and offers fast and easy ratemaking experience for insurer’s underwriting.