On June 22, the 1st catastrophe risk and insurance summit and the China Reinsurance Catastrophe Research Center was held in Beijing. Liang Tao, Vice Chairman of China Insurance Regulatory Commission, Bai Tao, Deputy General Manager of CIC Corporation and General Manager of Central Huijin Company, Yuan Linjiang, Chairman of China Reinsurance Group (China RE) attended the meeting, and witnessed the birth of first catastrophe research platform of China's reinsurance industry together with more than 170 attendants from government departments, research institutes and domestic and foreign insurance reinsurance institutions.
In the warm atmosphere, Vice Chairman Liang Tao, Deputy General Manager Bai Tao and Niu Zhijun, Deputy Director of China Seismological Bureau, Hu Xuehao, Deputy Director of Finance Department of Ministry of Finance, and Chairman Yuan Linjiang jointly opened China Reinsurance Cataclysm Research Centre. China Reinsurance Cataclysm Research Centre was formally established. This is another major strategic initiative of the Group to implement the national decision-making arrangements and work in with the CIRC to promote catastrophe insurance system construction. The research centre is set up to meet the national strategy, to serve the government needs, to meet the core needs of the direct insurance companies; to pool industry resources for the building of an open catastrophe research platform for China's insurance industry; to take scientific and technological innovation as the support and export the professional services and technology for the industry; to promote the development of cataclysm insurance industry and promote the level of cataclysm risk management.
Vice Chairman Liang Tao said in his speech that the current establishment of the cataclysm insurance system had risen to the will of the state. The CIRC will actively promote the construction of the cataclysm insurance system with relevant departments and exploit the advantages of insurance in areas of disaster relief, compensation and reconstruction. As the only reinsurance group company in China, China RE has played a positive role in China's risk diversification, cataclysm management and practical exploration. It is hoped that China Reinsurance Cataclysm Research Centre will give a full play to the advantages of the industry, strengthen the research and innovate, and apply the research results to practice so that research and practice to promote each other, complement each other. It will become a theoretical authority and practice pioneer, providing an effective solution to spread risks of cataclysm in China.
Bai Tao, deputy general manager pointed out in the speech that CIC and Central Huijin Company actively support China RE to grasp the market opportunities to accelerate the pace of reform and innovation, and actively fulfill their social responsibility, especially to accelerate innovation and conquering in the field of cataclysm, realizing a compound growth social and economic benefits. The establishment of China Reinsurance Cataclysm Research Centre is another important milestone in the strategic development of the Group. It is hoped that the Centre will become the platform for insurance industry exchange, consultation and cooperation and the "engine" to enhance industry catastrophe risk management technology. The centre should make early effort, get early results and make early breakthroughs in the key field, provide strong support for the establishment and improvement of Chinese cataclysm insurance and cataclysm risk management system as well as the cataclysm risk innovation solutions of the government and enterprises and institutions, and make contributions for the national disaster management business.
Yuan Linjiang, Chairman of the Board of China RE stated that reinsurance was an important part of the construction of cataclysm insurance system. The Group actively responded to national calls, put forward the group "one three five" strategy, held high the "Focus on RE-insurance" banner, and actively played the national reinsurance function. It worked as a vanguard of the industry with the ability and the responsibility for contribution to the national disaster management business. China Reinsurance Cataclysm Research Centre will strive to play as a unique platform to deepen the cohesion in the field of cooperation and taking it as an opportunity to promote the insurance industry cataclysm risk management technology to improve, contributing to the national catastrophe security system and to help the insurance industry better serving for the people's livelihood.
According to Dr. Zhou Junhua, General Director of China Reinsurance Cataclysm Research Centre, the main task of the Centre is to build a cataclysm database, develop cataclysm models and cataclysm products, build information sharing platforms, and carry out cataclysm research and promote cataclysm insurance system construction. Through carrying out the above efforts, the centre tries to build itself into a multi - resource integration of the open platform and business service innovation support platform.
Aiming at the cataclysm special research and a series of forward-looking, innovative work, China RE hired four experts in the field of cataclysm, as senior advisers of the Centre. They are Gao Mengtan, former deputy director of the Institute of Geophysics of China Earthquake Administration, Cheng Xiaotao, former deputy chief engineer of China Water Resources and Hydropower Research Institute, Duan Guihong, former dean of China Meteorological Science Research Institute, and Tuo Guozhu, the former professor majored in labor economy in the University of Economics and Trade.
The establishment of China Reinsurance Cataclysm Research Centre attracted great concern and attention within the insurance industry. The first cataclysm risk and insurance summit forum organized by China RE has become a exchange and interaction platform for representatives of the industry. Under the theme of "Focusing on Frontier Technology and Leading the Cataclysm Insurance", the representatives from government departments, scientific research units and insurance companies express their opinions from the perspectives of "government support", "science and technology support" and "industry practice, launching strategic dialogues and discussions on cataclysm risks and insurance. Speakers generally believe that China's cataclysm risk management has set sail. The insurance and reinsurance enterprises should play a market-oriented role to diversify risks. It is necessary to take advantage of frontier technology to construct China's cataclysm model according to its national conditions and to build an open and shared cataclysm large data platform. the cataclysm insurance system should be constantly improved to serve national strategies relying on advanced technology and insurance-reinsurance protection.
He Chunlei, the executive vice president of China RE hosted the meeting. He said at the forum that China Reinsurance Cataclysm Research Centre will actively fulfill its mission, solidly promote the key jobs of the Centre, designing cataclysm insurance products for the industry, providing cataclysm risk management services, researching and developing the cataclysm models with independent intellectual property rights. The Centre should contribute effectively for the industry cataclysm risk management, national cataclysm insurance system and play a role in creating a new chapter in the development of cataclysm insurance.
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