China Reinsurance (Hong Kong) Company Limited (“China Re HK”), was incorporated in December 2019, which is a professional life and health reinsurance company under China Re Group and provides comprehensive risk coverage and customised reinsurance solutions in Asian and global markets.
Its parent company, China Life Reinsurance Company Ltd. (“China Re Life”), is a wholly-owned operating subsidiary of China Re Group and the sole company focusing on operating life reinsurance business within the PRC, which provides reinsurance coverage for hundreds of millions of life and health insurance policies each year. China Re Life ranks 1st in terms of domestic market share and ranks 7th in the world, and it has been given “A” rating by Standard & Poor’s and A.M. Best for its financial strengths for eight consecutive years. China Re Life pioneered in cross-border RMB business in 2010, realised cross-border reinsurance settlement with RMB for the first time, which filled the gap in Hong Kong insurance market for RMB products and made important contribution accelerate the process of RMB internationalization. To date the amount of cross-border RMB reinsurance settlement has exceeded RMB40 billion.
China Re HK is the first domestic insurance company approved by China Banking and Insurance Regulatory Commission (CBIRC) to be established in Hong Kong. China Re HK will make good use of the risk coverage, technical services and financial facilities functions of life reinsurance, actively serve China’s “Belt and Road Initiative”, development of the Guangdong-Hong Kong-Macao Greater Bay Area and RMB internationalization strategy, and contribute to the stability, prosperity and development of the life insurance industry in Hong Kong and Mainland China.
China Reinsurance (Hong Kong) Company Limited (“China Re HK”) is a wholly-owned subsidiary of China Life Reinsurance Company Ltd. (“China Re Life”). With a foothold in Hong Kong for the development of the Guangdong-Hong Kong-Macao Greater Bay Area and expansion in Asia Pacific, it aims to provide global customers with comprehensive risk coverage and customised reinsurance solutions.
Relying on China Re Life’s leading position in domestic data, technologies and products and with value creation as our core value, China Re HK connects domestic market to overseas market and provides customers with global risk management, capital management, data management, technical consulting, health management and other comprehensive reinsurance services. In addition, the Company will actively serve China’s “Belt and Road Initiative” and the development of Guangdong-Hong Kong-Macao Greater Bay Area and conduct in-depth exploration in areas such as product innovation, products and services, cross-border RMB business and insurance technology, in order to support enterprises in “going abroad” and participate in international operation and protect the residents in Hong Kong and Mainland China.China Re HK will adhere to China Re Life’s development concept of “making progress while maintaining stability, pursuing excellence”, and will continue to strive to become a world-leading professional life and health reinsurance company with Chinese characteristics.
Chairman of China Re HK: Tian Meipan