China Re Group and China Institute of Water Resources and Hydropower Research (the “IWHR”) entered into a strategic cooperation agreement in Beijing on 13 October. He Chunlei, the Executive Vice President of China Re Group, and Kuang Shangfu, the director of the IWHR, signed the agreement on behalf of both parties, and the Flood Risk and Insurance Laboratory jointly supported by both parties was inaugurated.
China Re Group and the IWHR give full play to the national disaster risk management system as a fresh driving force. The parties will establish a long-term strategic cooperation partnership and roll out all-dimensional cooperation on the catastrophe insurance system, catastrophe model, information sharing, international exchange and talent exchange and training by signing the strategic cooperation agreement. The parties will also promote the construction of a platform for the information of flood risk and insurance, and the implementation of flood insurance model, products research and development, talent exchange and training and other practical works by establishing the Flood Risk and Insurance Laboratory, so as to share complementary resources and achieve a mutually beneficial and win-win situation, thereby making more contributions to the construction of the national catastrophe insurance system and the system of flood control, drought relief and disaster reduction.
The IWHR is an entity under the Ministry of Water Resources. It possesses a large amount of experienced experts in water resources and hydropower research and powerful water resources and hydropower technologies accumulated for years. It also has comprehensive information resources of hydrology and past events of flooding. The IWHR has been actively committed to the national flood control, drought relief and disaster reduction, and plays a leading role in the national disaster prevention and reduction works.
As a reinsurance company in the PRC, China Re Group strictly adheres to the “One-Three-Five” Strategy and performs the national reinsurance functions. It always commits to the construction of catastrophe risk diversification system, with an aim of complementing and supporting national disaster relief and ensuring economic and social development. In June 2017, China Re Group established the Catastrophe Research Center, which is currently promoting the construction of a catastrophe database for China Re and steadily pushing forward the development of catastrophe risk model.
The signing ceremony was attended by Zhang Renjiang, the General Manager of China Re P&C, Zuo Huiqiang, the Deputy General Manager, Feng Jian, the General Manager of the Information Technology Department of the Group Company, Zhou Junhua, the Chief Executive of the Catastrophe Research Center, Wang Xiaogang, the Deputy Director of the IWHR, Li Lulu, the Deputy Office Director, Lu Jin, the Director of the Scientific Research Planning Department, Feng Jie, the Deputy Director of the head office, Ding Liuqian, the Director of the Disaster Reduction Center and others.