On 16 November, the China Nuclear Insurance Pool (the “CNIP”) organized a summit on “supporting the development of nuclear power and serving the real economy” in Hangzhou, and the summit was attended by over 80 delegates from the Environment and Resources Protection Committee of the NPC, the CIRC, the State Administration of Science, Technology and Industry for National Defense, the National Nuclear Safety Administration, China Nuclear Power Development Center , Industry Alliance on China Nuclear Power Technology Equipment “going global” , CNNC, CGNPC Group and 29 members of the CNIP.
In the context of the promulgation of the Nuclear Safety Law of the PRC, the Summit earnestly implemented the requirements of “deepening the reform of the financial system and strengthening the ability of serving the real economy by finance” submitted by President Xi Jinping in the report delivered during the 19th CPC National Congress; focused on the advantages, achievements and future development plan of the China Nuclear Insurance Pool in serving the national strategies and supporting the development of national nuclear industry over the last 18 years based on the Guiding Opinions on Supporting the Development of Real Economy by the Insurance Industry; and conducted in-depth study on topics such as the legislation of nuclear damage compensation liability of the State, nuclear contingency and nuclear damage compensation, nuclear power safety management, management of full industrial chain of CNNC and nuclear safety management of CGNPC Group.
He Hao, Deputy Director General of the P&C Supervision Department of the CIRC, attended the summit and made a keynote address. He stressed that the development of nuclear insurance industry has great significance for promoting sustainable and healthy development of Chinese nuclear industry, enhancing social security, ensuring people’s production and life security, and mitigating the government burden after major nuclear incidents given the rapid development of overall insurance market in China. The long-term close cooperation between the CNIP and the nuclear energy industry fully demonstrates the persistent implementation and active response to the guiding spirit of President Xi Jinping and the Central Committee of Chinese Communist Party regarding “financial industry’s direction and goal of serving the real economy”. The insurance industry shall serve the development of nuclear energy industry and support the government for social governance in a better manner. He Hao also explained his opinion on the future development of the CNIP. He stressed that the CNIP shall give full play to its industrial platform, constantly enhance its system and ensure long-term security of nuclear insurance; actively participate in the construction of catastrophe premium reserves system of nuclear insurance and improve the catastrophe insurance system; embrace the national nuclear safety management system and actively perform the social management function of insurance industry; and further enhance the professional service capabilities and meet the increasing demand for insurance from the nuclear energy industry.
Yuan Linjiang, the Chairman of the CNIP and the Chairman of China Re Group gave a speech on behalf of the CNIP. He said that the CNIP should implement the spirit in respect of strengthening the ability of serving the real economy by finance in President Xi Jinping’s report on the 19th National Congress, actively serve the various national strategies and give full play to the catastrophe guarantee function of nuclear insurance in accordance with the requirements of the CIRC. Yuan Linjiang reviewed the achievements made by the CNIP over the past 18 years and pointed out that with the purpose of “supporting the development of nuclear power and serving the real economy”, the CNIP has become the community of shared future of the insurance and the nuclear power industries and achieved remarkable results in terms of the organizational development, institution building, underwriting capability, safeguarding scale, professional capability building, international influence and other aspects. Our member companies have increased from 5 at the time of establishment to 29 at present. Our domestic and overseas underwriting capacity ranked the second and the third in the world, respectively. Our premium of domestic business increased by nearly 26 times when compared with that during the initial period of establishment, while the premium of overseas business increased by almost 48 times. The domestic nuclear assets insured by the CNIP amounted to more than RMB700 billion, which provides a full life insurance coverage over 100 years for the nuclear power companies. The CNIP also undertook a number of research projects from the Environment and Resources Protection Committee of the NPC, the National Nuclear Safety Administration, the National Energy Administration, the State Administration of Science, Technology and Industry for National Defense and other state authorities and government departments. In the future, the CNIP will become more extensively integrated into the national nuclear safety management system and play an important role in serving the real economy in the insurance industry, supporting the national strategies of “Manufacturing Power” and “Beautiful China”. The international influence of the CNIP is increasing, with operations in 26 countries and regions, involving with 70% of the total nuclear reactors. It is a committee member of the General Purpose Committee, the Project Sub-Committee and Claims Sub-committee of the International Nuclear Insurance Pool, becoming an important pole in the systems of the International Nuclear Insurance Pool.
In the speech, Yuan Linjiang stated that the China Re Group will equip the implementing agencies of the CNIP with better resources and increase the investments, promoting the five measures of exchange mechanism among member companies, regulating the communication mechanisms with governmental agencies, technical training mechanism, project research mechanism and constructing information promotion platform, actively supporting national strategies and serving new requirements for the development of nuclear industry. The 18-year management practice of the CNIP has accumulated successful experiences on the implementation of “community of shared human future”, an initiative brought forward on the 19th National Congress, in the insurance industry, which actively explored a road of development of management mechanism of the insurance pool with Chinese characteristics and lay a theoretical and practical foundation for the construction of other pool organizations in the insurance industry.
Di Yong, the Director of Bill Office of the Environment and Resources Protection Committee of the NPC, Huang Min, the Deputy Director of the Nuclear Contingency and Military Nuclear Safety Regulatory Division of the State Administration of Science, Technology and Industry for National Defense, Yin Dejian, the Director of the Nuclear Power Safety Regulatory Division of Ministry of Environmental Protection (the National Nuclear Safety Administration), Chen Hua, the Deputy General Manager of China National Nuclear Corporation and the Chairman of China National Nuclear Power and Shi Bing, the Deputy General Manager of China General Nuclear Power Corporation delivered keynote speeches on the seminar respectively.
Lastly, the implementing agency of the CNIP introduced its strength in terms of mechanism, its current operations and next direction of work with the theme of “leveraging system edge and supporting nuclear power development”, and presented concrete proposals of implementing the CIRC’s Guiding Opinions on Supporting the Development of Real Economy by the Insurance Industry and further enhancing the strengths of industrial platform to ensure the future development of nuclear industry.