The International Business of PICC RE has taken shape. The Company has received A3 rating from Moody’s and successfully registered as qualified reinsurer in India, South Korea and other markets. The Company also joined into major international and reinsurance organizations such as the International Union of Aerospace Insurers (IUAI), the Federation of Afro-Asian Insurers & Reinsurers (FAIR) and some others.
From the very beginning, the International Business Department has attached great importance to attract underwriters with diversified professional backgrounds and has conducted researches on risks of property, catastrophe, marine cargo, energy, aviation, aerospace and so on. The Company is committed to promoting healthy development of insurance industry by professionalism, no matter facultative business or treaty business, which in turn leads the Company itself to the path of stable development.
Through the efforts in recent years, the International Business Department of PICC RE has utilized advanced catastrophe modellings such as RMS and AIR into the fields of pricing, portfolio analysis and risk capital allocation, etc. Currently we have availed a series of catastrophe pricing and analytical tools, as well as built-up expertise on risk assessment and insurance transaction.
The International Business Department focuses on client service and value delivery. At present, we provide reinsurance services to nearly one hundred insurance companies in six continents and syndicates in Lloyd's to diversify their risks, enlarge underwriting capacity and catastrophe coverage, which demonstrate the important role of reinsurance on market adjustment and risk management.