On the morning of May 17, local time, Yuan Linjiang, Chairman of China Re, led a delegation to sign a memorandum of understanding on business cooperation with Internacional, Panama's largest insurance company, and visited the Chinese Embassy in Panama. In August 2018, Augusto, then-Minister of Industry and Commerce of Panama, visited China Re and invited the Group to visit the Panama market to further explore cooperation in the field of insurance with Panama.
The signing of the memorandum of cooperation with Internacional Insurance Company is the first cooperation memorandum signed by China's insurance industry and an insurance agency of Panama. The two sides have agreed to strengthen cooperation in the area of risk management and guarantee insurance in the projects of the Belt and Road, which opened a new chapter in the cooperation of insurance industry between China and Panama.
Before the signing ceremony, the two sides conducted in-depth communications on strengthening cooperative relations and the building of the Belt and Road. Chairman Yuan Linjiang said that since the establishment of diplomatic relations, China and Panama had continuously explored and strengthened cooperation in various fields, especially since the two countries signed the memorandum of understanding on the construction of the Belt and Road. The two countries had carried out comprehensive cooperation with the principle of high speed, high starting point and high standards, laying a solid foundation and broad space between the two countries for strengthening insurance industry cooperation and building the Belt and Road. As the only state-owned reinsurance group in China, China Re has always attached great importance to the construction of the Belt and Road. The signing of the memorandum of understanding with the Internacional Insurance Company is the starting point for the establishment of a cooperative relationship between the two sides. It is also an important practice for the insurance industry of China and Panama to build the Belt and Road.
Mr. Mauricio, President of Internacional Insurance Company, welcomed Chairman Yuan Linjiang and his delegation. He said that since the establishment of diplomatic relations between China and Panama, Chinese enterprises had injected vitality into the local economic development, and also generated a large number of insurance demand. At the same time, Panama, as a financial center of Central and South America, had important geographical advantages and strong radiation effects. It could provide strong support for China Re to serve the construction of the Belt and Road and local Chinese-funded enterprises. In the future, Internacional hoped to carry out in-depth exchanges and cooperation with China Re in the fields of risk management and guarantee insurance in the projects of the Belt and Road, so as to provide stable insurance and reinsurance services for local Chinese-funded enterprises and the projects of the Belt and Road.
Guests who participated in the meeting and the signing ceremony included: Mr. Eduardo Tejeira, Executive Vice President of Internacional Insurance Company, Mr. Martn Delgado, Vice President of Internacional Insurance Company, Mr. Zuo Huiqiang, Vice General Manager of China Re P&C, Mr. Zhu Xiaoyun, Secretary of Board of Directors of China Re and Li Wei, General Manager of strategic customer department of China Re.
Before signing the contract with Internacional Insurance Company, Chairman Yuan Linjiang and his delegation visited the Chinese Embassy in Panama and held talks with Wei Qiang, Ambassador Extraordinary and Plenipotentiary, and Wang Jian, Economic and Commercial Counsellor, to get a better understanding of the local market situation and insurance needs of Chinese-funded enterprises.