| 1980 | CIRe was incorporated with initial capital of HK$5 million with shareholders of CIC, Ming An and old TPI |
| 1981 | PICC joined as a shareholder with a 50% share, CIC held 20%, Ming An and old TPI 15% each; paid-up capital increased to HK$10 million |
| 1993 | A representative office was opened in London to strengthen the link and gather the information in London and European markets |
| 1994 | Realignment of shareholders whereas CIHK held 51.67%, PICC held 33.33% and Ming An held the remaining 15% |
| 1999 | PICC shareholding transferred to CIHC |
| 2000 | Labuan Branch established; |
| | Ownership of CIRe was transferred to CIIH before CIIH's public listing in June on the Hong Kong Stock Exchange Main Board |
| 2001 | CIIH Shanghai Representative Office established to assist with the reinsurance customer liaison and market contact |
| 2005 | CIRe Beijing Representative Office started operation, China market strategy set in motion |
| 2007 | CIRe received formal approval from CIRC to be designated and supervised as a Chinese reinsurance company |
| 2008 | CIRe received approval from CIRC to begin preparatory work for establishing its Beijing Branch |
|
|
Consolidate current leading position while pursuing profitable growth opportunistically
|
|
|
- Manage soft market cycle by being more selective/focused in underwriting
- Maintain a strong domestic market position in Hong Kong, Macau and Mainland China
- Strategically position the company in the growing Mainland China market
- Continue to selectively develop in other Asian markets
- Develop Treaty and Facultative business in non-Asia markets, however no long tail liability/ casualty business from non-Asian markets is accepted
|
|
|
Maintain quality services to our clients and act as a leader and price setter in the core markets
|
|
|
- Maximize core clients business potential by cross-selling all reinsurance services (Treaty & Facultative, Life & Non-Life, Property & Casualty)
|
|
|
Focus on profitability
|
|
|
- Target combined ratio of net retained premium below 100
|
|
|
Control risk
|
|
|
- Comply with strict underwriting disciplines, casualty line of business outside Asia is not written
- Invest prudently aiming at stable return and high liquidity
- Make use of group assets management expertise to maximize the investment return
- Enhance Cat modeling and Cat PML analysis and control
|
|
|
Maintain A- credit ratings from A.M. Best, S&P and Fitch
|
- 15 minutes delayed
