Improve environmental, social and governance systems
The “Strategy and Investment Committee” of the China Reinsurance Board was renamed the “Strategy and Sustainable Development Committee”, incorporating China Reinsurance's ESG management responsibilities into the existing corporate governance structure and authorized management system of the “Board of Directors - Board Professional Committee - Management”.
Helping high level technology stand on its own feet
It provides a solid guarantee for the commercial operation of the C919 large domestic aircraft and major aerospace strategic projects such as rockets and satellite launches. The “New Cybersecurity Insurance Shanghai Model Project” won the second prize of the Shanghai Financial Innovation Award. It innovatively developed the first domestic automobile chip exclusive insurance, helping the field of science and technology innovation to insured more than 430 billion yuan throughout the year, an increase of 16.4% over the previous year.
Serve the economy and society green and low-carbon development
Play the role of the chairman of the Chinese Nuclear Community to support the commercial operation of the world's first fourth-generation nuclear power plant, provide full-life cycle comprehensive insurance for more than 8,900 green energy projects such as wind power and photovoltaics, implement the first carbon asset loss insurance, create a new model integrating forestry carbon sink insurance and carbon emissions trading, and iteratively upgrade “again? The “New Energy Vehicle Insurance Pricing Risk Control Model” serves the green development sector with an insured amount of 3.1 trillion yuan throughout the year, an increase of 26.8% over the previous year.
Ensuring a better life for the people
It added high-quality services such as specialty drugs and one-stop claims settlement to Huimin Insurance in Beijing, Suzhou and other places, promoted service upgrades for a series of products such as Huijun Insurance and Huishi Insurance, innovated exclusive insurance products for the elderly, and launched “insurance+diagnosis+rehabilitation services” comprehensive insurance to achieve an effective link between long-term care, risk protection and old-age services, and help Health China serve 210 million people, an increase of 78.5% over the previous year.
Promote the modernization of social governance systems
Serves disaster prevention, mitigation and relief, undertakes 25.8 trillion yuan of domestic earthquake, flood and typhoon risk liability, an increase of 11% over the previous year, participated in all 19 provincial and municipal catastrophe insurance pilot projects, acted as the chief reinsurer in 80% of the projects, paid 650 million yuan for disasters such as torrential rains and floods in Beijing-Tianjin-Hebei, iteratively upgraded a series of major disaster models such as earthquakes, typhoons, floods, etc. with independent intellectual property rights, and obtained 6 national patents. It is leading the technical level industry to develop a climate change physical risk stress test model, and lead the Ministry of Science and Technology's “Major Natural Disaster Prevention and Public Safety” national key research and development Plan.
Contributing to common prosperity and rural revitalization
Protect food security, pioneer the implementation of exclusive reinsurance contracts for rural revitalization, fishing boats, etc., achieve full cost insurance and income insurance coverage for the three major grain crops in major grain-producing counties across the country, and release the industry's first “Re? Develop a “comprehensive agricultural insurance technology platform; continue to deepen the “1+1+N” special support model with “insurance+industry” as the core, focusing on the “ramen economy” providing loan support of more than 51.8 million yuan. “anti-poverty” insurance covers more than 200,000 people in Xuhua. After the earthquake in Jishishan, Gansu, it quickly assisted Xunhua County in carrying out rescue operations, fully supporting post-disaster reconstruction.
Support “going global” and “Belt and Road” construction
High-quality service exporters provide risk protection for more than 10,000 China-Europe trains and more than 800,000 TEUs of cross-border trade goods, and stably support export credit insurance business; protect the country's overseas interests, serve as the chairman unit and management agency of China's “Belt and Road” reinsurance community, provide risk protection for 418 “Belt and Road” projects, creatively use satellite remote sensing technology to provide risk reduction services, and underwrite iconic projects. The results were selected for the practical cooperation project list of the 3rd “Belt and Road” International Cooperation Summit Forum.
Looking forward to the future, China Insurance will adhere to the general tone of “seeking progress in stability and value enhancement”, adhere to the business philosophy of “developing on a large scale, improving efficiency, and investing steadily”, anchor world-class goals, fully integrate the concept of sustainable development into management, work hard and persevere, create returns for shareholders, create value for customers, create opportunities for employees, and actively carry out the original mission of serving the country and insurance for the people, and strive to write a new chapter in the path of financial development with Chinese characteristics.
China Re Insurance 2023 Social Responsibility Report
Source: WeChat. China Re