China Reinsurance (Group) Corporation – China Re history, company profile (overview) and history video
China Reinsurance (Group) Corporation, known as China RE, is a reinsurance group headquartered in Beijing, China.
HISTORY
China Re Group originated from The People’s Insurance Company of China (PICC), the first insurance company in the People’s Republic of China.
The People’s Insurance Company of China (PICC) was established in 1949, and the Reinsurance Division was affiliated with the International Business Department of PICC.
In 1984, PICC established the Reinsurance Department.
In 1996, the Reinsurance Company of PICC was established to underwrite the reinsurance business of the former PICC (Group).
In 1999, China Reinsurance Company was established to perform national reinsurance functions.
In 2003, China Reinsurance Group was established with six subsidiaries.
In 2007, China Reinsurance (Group) Co., Ltd. was established.
In 2015, China Reinsurance (Group) Co., Ltd. was listed on the Hong Kong Stock Exchange, becoming the first reinsurance group listed in Hong Kong.
In 2018, China Re Group acquired Chaucer.
OPERATIONS
China Reinsurance (Group) Corporation operates through the following segments: Property & Casualty Reinsurance, Life Reinsurance, Primary Property & Casualty Insurance, Asset Management, and Insurance Agency.
Property & Casualty Reinsurance
As one of the largest property & casualty reinsurers in China, China Re provides a wide range of reinsurance products and services, including motor, commercial and household property, engineering, marine hull & cargo, liability, credit & guarantee, personal accident, health, agriculture, space & aviation, energy, nuclear, etc.
Life Reinsurance
The Life Reinsurance segment covers life insurance, health insurance and accident insurance.
Primary Property & Casualty Insurance
China Continent Property & Casualty Insurance Co., Ltd (CCIC), founded in 2003, is a national property & casualty (P&C) insurance company and the only subsidiary of China Reinsurance (Group) Corporation that specialize in non-life primary insurance.
Asset Management
In the Asset Management segment, China RE has issued multi-asset investment products which include asset classes such as project-based financing programs, asset-backed securities, infrastructure investment programs, and real estate investment programs.
Insurance Agency
Huatai Insurance Agency & Consultant Service Ltd. (“Huatai”), founded in 1993, is the first nationwide insurance consulting and service company licensed by state insurance regulating authorities in China.
With more than 66,000 employees, China Reinsurance (Group) Corporation is considered one of the largest groups in China’s reinsurance market. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and eng.chinare.com.cn.
**Video published on Companies History.
