China Reinsurance Group

China Reinsurance Group is the largest reinsurer in Asia and ranks top 10 globally by premium. Also known as China Re, it earned RMB 46 billion in property and casualty reinsurance in 2024.

History of China Reinsurance Group

China Re was founded in 1949 under the People's Insurance Company of China. It started its reinsurance work through the company’s international business arm.

By 1996, it launched a separate company focused only on reinsurance. Other key milestones in its history include:

• 1999: China Reinsurance Company was formed and opened its London office
• 2001: Hong Kong Liaison Office established to support outbound business and regulatory engagement
• 2003: China Re Group was founded with six major business subsidiaries
• 2007: China Reinsurance (Group) Co., Ltd. was formally established as the group holding company
• 2011: China Re UK joined Lloyd’s of London and expanded its global footprint
• 2013: New York Representative Office opened to support expansion into the Americas
• 2015: listed on the main board of the Hong Kong Stock Exchange
• 2016: Singapore branch opened to enhance presence in Southeast Asia
• 2018: acquired Chaucer to grow its international reinsurance business
• 2023: ranked among top 40 global reinsurance firms by S&P Global Ratings

In recent years, China Reinsurance Group has stayed focused on global expansion and financial strength. In 2024, AM Best reaffirmed its A rating, citing solid capital and profit stability.

Reinsurance products and services

China Reinsurance Group runs a balanced reinsurance business at home and abroad through different companies:

• property and casualty reinsurance: covers motor, property, liability, marine, health, and agriculture reinsurance worldwide
• life and health reinsurance: offers treaty and facultative reinsurance for life, accident, and medical protection
• catastrophe reinsurance: provides cover for major disasters through its China Re Catastrophe modeling platform
• nuclear risk reinsurance: supports all domestic nuclear power units through China Nuclear Insurance Pool leadership
• cyber risk reinsurance: delivers cover for digital threats, using tools like “Typhoon Eyes of China”
• construction defects cover: includes inherent defects insurance (IDI) and safety production liability reinsurance
• reinsurance tech services: uses smart pricing tools for motor, aviation, environmental, health, and named-peril risks

China Re serves as China’s key reinsurance channel and carries deep industry knowledge and client ties. Its structure and reach let it lead the market in local and cross-border reinsurance coverage.

Culture and core values

China Reinsurance Group aims to reduce economic risks and improve everyday life through responsible solutions. Its values—expertise, integrity, aspiration, and cooperation—guide every part of its work and relationships.

Vision and employee care

China Re is working to grow into a strong global reinsurer with lasting strength and market edge. Its mission shapes how it treats people and builds talent with long-term growth in mind:

• warm community: hosts family-friendly spaces and events to support personal and work life balance
• culture gala: celebrates team spirit and performance through large employee recognition events and shows
• professional lectures: offers expert-led seminars for learning, skills growth, and team alignment
• career development: runs dual career tracks to promote both business and management talent
• sports and activities: holds fitness events and field games to boost energy and morale

This culture reflects a firm with experienced teams, steady oversight, and strong risk and operations systems.

Development strategy

China Reinsurance Group follows a “One-Four-Five” roadmap to become a top global reinsurance brand. The strategy focuses on one core goal, four pivots, and five focused enhancements:

One core

• reinsurance focus: builds growth around core reinsurance and full industry chain planning

Four pivots

• product innovation: customer-first reinsurance and new product development
• platform-driven: integrated tools and platform-based service models
• global interconnection: links overseas and domestic markets through shared technology
• technology empowerment: Digital China Re 2.0 strategy for higher efficiency

Five enhancements

• value: strengthens corporate, client, and social value together
• data: monetizes data and improves tech integration
• ecosystem: supports Belt and Road, disaster relief, and green development
• talent: focuses on people-led growth and system upgrades
• culture: builds shared identity through team unity and internal collaboration

This strategic path helps China Re lead reinsurance growth with innovation, discipline, and long-term value.

The future at China Reinsurance Group

China Re’s 2024 financial results point to deeper changes within its core reinsurance operations. Strong performance in recoverables and investment income shows sharper execution and smarter risk strategies. These gains support its long-term mission to grow as a stable, leading reinsurance provider worldwide. 

Leadership changes signal a new phase at China Reinsurance Group focused on oversight and future growth. With a broad mix of expert and independent voices, risk and governance remain top priorities. China Re’s strong global footprint and stable rating place it for long-term success across key markets.