He's a reformed smoker, no longer indulging in cigarettes.
他是个戒烟的人，不再抽烟了。
The car broke down, so we had to repair it at the garage.
汽车抛锚了，所以我们不得不去修理厂修复。
She received a reprimand from her boss for being late again.
她因为再次迟到收到了老板的训斥。
They decided to replay the game after realizing they made a mistake.
他们发现犯了错误后决定重赛。
The old house required extensive renovations before it could be lived in.
这幢老房子需要大规模的翻新才能居住。
The company's revenue has rebounded after a difficult year.
公司在经历艰难一年后，收入有所恢复。
Her illness required a retreat to a quiet countryside retreat.
她的疾病需要在宁静的乡村疗养院休养。
The movie's plot was a rehash of an older story, lacking originality.
这部电影的情节是对旧故事的重复，缺乏创新。
He requested a refund on the defective product he purchased.
他因购买的有问题产品要求退款。
The team is working on a revised strategy for the upcoming competition.
团队正在为即将到来的比赛制定新的策略。
KASSOW: China is an important market for Munich Re, offering excellent growth opportunities.
KASSOW：中国是慕尼黑再保险的重要市场，提供了极好的增长机会。
Munich Re is a long-term partner for our clients in China.
慕尼黑再保险是我们在中国客户的长期合作伙伴。
State-owned reinsurer China Re Group launched its digital transformation strategy in Beijing on Tuesday, making arrangements for the group's transition in the coming five years.
国有再保险公司中国再保险集团周二在北京启动了数字化转型战略，为该集团未来五年的转型做出了安排。
According to the strategy, China Re will promote the integration of technology and business, fully leverage the advantages of reinsurance, actively carry out risk reduction services and provide comprehensive risk solutions with technology at the core.
根据该战略，中国再保险将促进技术与业务的融合，充分利用再保险的优势，积极开展风险降低服务，提供以技术为核心的综合风险解决方案。
Feng Jian, general manager of the Information Technology Center of China Re, said: "We plan to design a unified enterprise-level digital infrastructure, so that data can be shared within the industry, and system application modules can be combined flexibly.
中国再保险信息技术中心总经理冯健表示：“我们计划设计一个统一的企业级数字基础设施，以便在行业内共享数据，并灵活组合系统应用模块。
"By 2035, China Re expects to become a world-class comprehensive reinsurance group empowered by digital technology.
“到2035年，中国再保险有望成为以数字技术赋能的世界级综合再保险集团。
The insurance industry is expected to be on the track of steady development in China as the economy rapidly recovers from the COVID-19 pandemic, executives of global reinsurer Swiss Re said.
全球再保险公司瑞士再保险（Swiss Re）的高管表示，随着中国经济从新冠肺炎疫情中迅速复苏，预计保险业将在中国稳步发展。
China's economic recovery this year is likely to be consumption-led and see stronger growth in contrast to the global economic slowdown, said Christian Mumenthaler, CEO of Swiss Re.
瑞士再保险公司首席执行官Christian Mumenthaler表示，中国今年的经济复苏可能是由消费主导的，与全球经济放缓形成对比的是，中国经济增长更强劲。
According to the Swiss Re Institute, global demand for risk protection has increased after pandemic, people are now more used to online interaction and rate hardening in non-life commercial insurance lines continues.
根据瑞士再保险研究所的数据，疫情后，全球对风险保护的需求有所增加，人们现在更习惯于在线互动，非人寿商业保险的费率强化仍在继续。
"At the recently concluded China Development Forum 2023, which was themed Economic Recovery: Opportunities and Cooperation, Swiss Re submitted a report on improving risk protection for residential housing and promoting sustainable development of rental housing in China.
“在最近结束的主题为“经济复苏：机遇与合作”的2023年中国发展论坛上，瑞士再保险公司提交了一份关于加强住宅风险保护和促进中国租赁住房可持续发展的报告。
Swiss Re prioritizes business in areas like aging and health, agriculture, natural disasters and decarbonization, in line with Chinese economic trends and the government's agenda.
瑞士再保险公司根据中国经济趋势和政府议程，优先考虑老龄化和健康、农业、自然灾害和脱碳等领域的业务。
In response to the country's development of the digital economy and green transition, Swiss Re said it has doubled down on digital transformation to develop innovative and technology-based solutions with its clients and partners.
为了应对该国数字经济的发展和绿色转型，瑞士再保险表示，它已加倍努力进行数字化转型，与客户和合作伙伴开发创新和基于技术的解决方案。
In the country, Swiss Re has launched digital solutions including the automated insurance underwriting platform Magnum and the agricultural insurance risk management platform SRAIRMP, providing technological support to clients across industries and the entire reinsurance value chain.
在该国，瑞士再保险推出了数字解决方案，包括自动化保险承保平台Magnum和农业保险风险管理平台SRAIRMP，为跨行业和整个再保险价值链的客户提供技术支持。
"I strongly believe that Swiss Re is well positioned to support China's development with our global risk insights and expertise and solid partnerships established in China," Mumenthaler said.
Mumenthaler表示：“我坚信，瑞士再保险凭借其全球风险洞察力和专业知识，以及在中国建立的坚实合作伙伴关系，已做好支持中国发展的准备。”。
Swiss Re played a major role in supporting the clients with its risk management expertise and product innovation capability.
瑞士再保险凭借其风险管理专业知识和产品创新能力在支持客户方面发挥了重要作用。
Swiss Re's business strategy is aligned with China's 14th Five-Year Plan (2021-25), said Ivan Gonzalez, CEO of Reinsurance China and president of Swiss Re China.
再保险中国首席执行官兼瑞士再保险中国总裁伊万·冈萨雷斯表示，瑞士再保险的业务战略与中国的第十四个五年计划（2021-25年）相一致。
On 29 March 2022, China Re Group held the 2021 Annual Results Press Conference.
2022年3月29日，中再集团召开2021年度业绩新闻发布会。
Yuan Linjiang, Chairman of China Re Group, led the management team to give a detailed briefing on the Group's overall performance and strategic implementation results in 2021.
中再集团董事长袁林江带领管理团队详细介绍了2021年集团整体业绩和战略实施成果。
Faced with a complex market environment both at home and abroad, China Re Group formulated the "One-Four-Five" strategy, which refers to focusing on our reinsurance business ("one core"), technology empowerment, global interconnection,strengthening product innovation and becoming platform-driven ("four pivots"), and achieving improvements in value, data, ecosystem, talent and culture ("five enhancements").
面对国内外复杂的市场环境，中再集团制定了“一四五”战略，即聚焦再保险业务（“一核”）、技术赋能、全球互联、加强产品创新和平台驱动（“四支点”），实现价值、数据、生态、，人才与文化（“五个提升”）。
Under the guidance of the "One-Four-Five" strategy, China Re Group adhered to the general tone of "making progress while ensuring stability",and insisted on the operational policy of "stabilizing growth, adjusting structure, controlling risk, and increasing profitability", achieving a good opening of high-quality development for the 14th Five-Year Plan.
中再集团在“四五”战略指引下，坚持“稳中求进”总基调，坚持“稳增长、调结构、控风险、增盈利”经营方针，实现了“十四五”高质量发展的良好开局。
Steady improvement in operation results, further consolidation of market positionIn 2021, China Re Group's premium volume grew steadily.
经营业绩稳步改善，市场地位进一步巩固2021年，中再集团保费量稳步增长。
In terms of total reinsurance premiums and net premiums, China Re Group's global reinsurance ranking rose from 7th to 6th, and was recognized as one of the "Top 500 Global Companies" by Fortune magazine and appeared on the "Brand Finance Global 500".
在再保险总保费和净保费方面，中国再保险集团的全球再保险排名从第7位上升到第6位，被《财富》杂志评为“全球500强”之一，并登上“品牌金融全球500”。
China Re also ranked top in the Annual Regulatory Assessment on Corporate Governance conducted by the China Banking and Insurance Regulatory Commission and ranked first by market share in the domestic reinsurance market, reinforcing its position as the main force in the industry.
中国再保险在中国银行保险监督管理委员会进行的年度公司治理监管评估中也位居榜首，在国内再保险市场的市场份额排名第一，巩固了其行业主力军地位。
Continued optimization in business structure, risk management remains stableIn 2021, China Re Group continued to optimize its business structure.
业务结构持续优化，风险管理保持稳定2021年，中再集团继续优化业务结构。
China Re Group's risk management remained stable.
中再集团风险管理保持稳定。
Actively serving national strategies as innovation drove business developmentIn 2021, China Re Group's P&C net amount at risk in service of relevant national key strategies totaled nearly 2 billion yuan, representing a year-on-year increase of 28 percent; the market share of our health protection-type reinsurance business in service of the Healthy China strategy exceeded 40 percent, and nearly 200 new innovative products were added.
积极服务国家战略，创新驱动业务发展2021年，中再集团为相关国家重点战略服务的损益风险净额近20亿元，同比增长28%；为健康中国战略服务的健康保障型再保险业务市场份额超过40%，新增创新产品近200种。
In addition,China Re showed innovation inits catastrophe risk management methods and successfully issued the first catastrophe bond in Hong Kong.
此外，中国再保险展示了其灾难风险管理方法的创新，并成功发行了香港首只灾难债券。
In serving the Healthy China strategy, as a major reinsurer in China, China Re supported more than 50"Hui Min Bao" projects, covering roughly 50 percent of the insured population nationwide.
在服务健康中国战略的过程中，作为中国的主要再保险公司，中国再保险支持了50多个“回民保”项目，覆盖了全国约50%的参保人口。
Publishing the"Digital China Re 2.0" Strategy to accelerate digital transformationIn 2021, China Re Group published the "Digital China Re 2.0 Strategy".
发布“数字中国再2.0”战略加快数字化转型2021年，中再集团发布了“数字中国重新2.0战略”。
In terms of the more traditional framework, the Group's goal is to make leaps in basic capabilities and international capabilities, while on the innovation side, it will continue to promote the construction of external innovation platforms and ecosystem-based operations, and in terms of organizational transformation, China Re will upgrade its digital organization capabilities.
在更传统的框架方面，集团的目标是在基础能力和国际能力上实现飞跃，而在创新方面，将继续推进外部创新平台建设和基于生态系统的运营，在组织转型方面，中国再保险将升级其数字化组织能力。
In 2021, China Re Group's technology empowerment became increasingly prominent.
2021年，中再集团的技术赋能日益凸显。
As the first insurance technology company in China to focus on catastrophe risk management, the Group's subsidiary China Re Catastrophe Risk Management Co. , Ltd. successfully developed the China Earthquake Catastrophe Model 3.5, which is the only scientific research project in China's insurance industry featured in the 13th Five-Year Plan Scientific and Technological Achievement Exhibition.
作为国内首家专注于灾害风险管理的保险科技公司，集团旗下有限公司中再灾害风险管理有限公司成功研发了中国地震灾害模型3.5，这是中国保险业唯一入选“十三五”科技成果展的科研项目。
In 2021, China Re Catastrophe Risk Management's revenue exceeded 23 million yuan, reaching profitability in its first year.
2021年，中再巨灾风险管理营收超过2300万元，第一年实现盈利。
Continuous advancement of international footprint and continuous improvement in management capabilitiesIn 2021, China Re Group made great progress in its globalization efforts.
国际足迹的不断推进和管理能力的不断提高2021年，中再集团的全球化努力取得了巨大进展。
In the three years since the acquisition, China Re has achieved stability in terms of business, operations and teams, and Chaucer has consistently outperformed Lloyd's, with a return on economic capital of 14.8 percent.
自收购以来的三年里，中国再保险在业务、运营和团队方面实现了稳定，Chaucer的表现一直优于Lloyd’s，经济资本回报率为14.8%。
Third, China Re continued to enhance its management capabilities.
三是中再继续提升管理能力。
Utilizing the Belt and Road initiative as a bridge and leveraging Chaucer's technological advantages as a leader in the fields of political risk and nuclear risk, China Re strengthened coordinated development at home and abroad.
中国以“一带一路”倡议为桥梁，以乔叟在政治风险和核风险领域的技术优势为引领，重新加强了国内外协调发展。
Improved risk management capabilities, laying a solid foundation for the headquartersChina Re Group continued to improve its risk management system and strengthened overall management and control in key areas such as major risks and international business.
提高风险管理能力，为总部奠定坚实基础中再集团持续完善风险管理体系，加强对重大风险、国际业务等重点领域的全面管控。
Looking ahead, China Re Group will continue to prioritize stability, focus on its main responsibilities and strengthen its main businesses.
展望未来，中再集团将继续坚持稳字当头、聚焦主责主业。
China Re will take initiative, seize new development opportunities while strengthening service to national strategies, and steadily improve its operating performance by strengthening value creation.
中国再保险将主动出击，在加强服务国家战略的同时抓住新的发展机遇，通过加强价值创造稳步提升经营业绩。
China Re Group will continue to adhere to the general tone of "making progress while ensuring stability and value creation", insist on the business strategy of "stabilizing growth, adjusting structure, controlling risk and increasing profitability", stabilize fundamentals, build up new momentum, and actively adapt to industry transformation to continually promote the high-quality development of the Group and create greater value for clients and shareholders.
中再集团将继续坚持“稳中求进、创造价值”的工作总基调，坚持“稳增长、调结构、控风险、增盈利”的经营战略，稳住基本面，筑牢新动能，积极适应行业转型，不断推动集团高质量发展，为客户和股东创造更大价值。
The 2022 work meeting of China Re was held in Beijing on Tuesday, sharing the general thoughts behind the group's work in 2022.
中国再保险2022年工作会议周二在北京举行，分享了该集团2022年工作的总体思路。
Yuan Linjiang, Party secretary and chairman of China Re, gave a speech on the "One-Four-Five" strategic guidance for the company's high-quality development.
中国再保险公司党委书记、董事长袁林江就公司高质量发展“一四五”战略指引发表讲话。
He Chunlei, deputy Party secretary, vice-chairman and president of the company, addressed the meeting with the operation work report titled "Striving for Continuous Promotion of High-quality Development of China Re Group with Innovation".
公司党委副书记、副董事长、总裁何春雷在会上作了题为《创新不断推动中再集团高质量发展》的经营工作报告。
Xiong Lianhua, deputy Party secretary, and chairman of the board of supervisors of China Re, chaired the meeting.
中国再保险公司党委副书记、监事会主席熊莲花主持会议。
China Re moved up from the seventh position to the sixth in the global reinsurance ranking, and for the first time, ranked among the Fortune Global 500 and the Top 500 Global Most Valuable Brands, making a good start for the high-quality development of the 14th Five-Year Plan (2021-25).
中国再保险在全球再保险排名中从第七位上升到第六位，首次跻身《财富》世界500强和全球最具价值品牌500强，为“十四五”（2021-25年）高质量发展开了好头。
Swiss Re Group, with its strong position in insurance, reinsurance, and insurance-based risk transfer, has vowed to use its expertise to support Shanghai in achieving higher goals as an international financial center during the 14th Five-Year Plan (2021-25).
瑞士再保险集团凭借其在保险、再保险和保险为基础的风险转移领域的领先地位，已承诺利用其专业能力支持上海在“十四五”（2021-2025年）期间实现更高目标，成为国际金融中心。
According to Sergio P. Ermotti, chairman of the board of directors of Swiss Re, Shanghai has made solid progress in the construction of an international financial center, evidenced by the continual rise in its global rankings.
瑞士再保险集团董事会主席塞尔吉奥·P·埃默蒂表示，上海在建设国际金融中心方面取得了坚实进展，这一点在其全球排名的不断上升中得到了体现。
"Swiss Re, as specialists in risk transfer solutions, see strengthening the resilience of Shanghai's infrastructure, its businesses and its society as a very important area for cooperation.
作为风险转移解决方案的专家，瑞士再保险认为增强上海基础设施、企业和社会的韧性是一个非常重要的合作领域。
"China is taking increasing steps toward its net-zero emissions target, and Swiss Re said it is ready to support China's green transition.
中国正在逐步采取措施迈向净零排放目标，而瑞士再保险表示准备支持中国的绿色转型。
Swiss Re is keen to contribute to mitigating the impact of an aging society and strengthen people's resilience in the last phase of their life by providing additional financial protection, according to Ermotti.
据Ermotti表示，瑞士再保险希望为缓解社会老龄化的影响做出贡献，并通过提供额外的财务保障，增强人们在生活最后阶段的韧性。
According to Swiss Re Institute, China is on course to become the world's largest insurance market by the mid-2030s," Ermotti said.
“瑞士再保险研究所表示，中国有望在本世纪30年代中期成为全球最大的保险市场，”Ermotti说。
"At Swiss Re, we want to be a trusted partner for progress with our Chinese stakeholders to make the society more resilient.
在瑞士再保险，我们致力于成为与中国利益相关者携手进步的可信赖伙伴，共同努力提升社会的韧性。
"We have achieved over 25 percent of renewable electricity contracted in China on our RE 100 goal," he said, adding the company is expected to contract over 120 million kWhs of renewable electricity and reduce 84,120 tons of carbon emissions in 2021.
他指出，目前公司已实现中国区可再生能源电力采购目标的25%以上，预计2021年将采购超过1.2亿度的可再生能源电力，减少碳排放84,120吨。
Premiums grew steadily for China Re in 2020 despite the impact of the pandemic, it was announced at the reinsurer's annual results news conference on March 30.
3月30日，中国再保险公司在年度业绩新闻发布会上宣布，尽管受到新冠疫情的影响，2020年保费收入仍稳步增长。
Besides, the group further took measures in risk management includes strengthening risk investigation and mitigation, launching China Re Catastrophe Risk Management System (CREST), establishing a negative list system and strengthening penetrative management of key risks.
此外，集团还采取了其他风险管理措施，包括加强风险调查和缓解、推出中国再保险灾难风险管理系统（CREST）、建立负面清单制度以及强化关键风险的穿透式管理。
In 2020, China Re focused on platform-building, technology advancement and globalization as three key pillars, while actively implementing major strategies.
2020年，中国再保险以平台建设、科技引领、国际化为三大支柱，积极践行重大战略。
In actively meeting health protection needs, China Re Life led and participated in the revision of the Critical Illness Morbidity Table.
在积极满足健康保障需求方面，中国再保险寿险公司主导并参与了重大疾病发生率表的修订工作。
China Re continued to upgrade its internal infrastructure construction, and promoted the establishment of business centers, data centers, and data lakes.
中国再保险继续加强内部基础设施建设，推动建立业务中心、数据中心和数据湖。
China Re P&C runs 90 percent of its business and centralizing 80 percent of its data online.
中国再保险财产险公司90%的业务运行在线上，并且80%的数据集中在线处理。
China Re Life's initiated policy data platform and was the first to realize online-based actuarial estimates.
中国再保险公司的生命保险业务启动了保单数据平台，并率先实现了基于网络的精算估算。
China Re P&C and China Continent Insurance established a billing solution based on a blockchain platform; commercialized outputs to primary insurers were realized on the "Re·View" platform.
中国再保险（集团）股份有限公司和中国大地保险公司建立了一个基于区块链平台的账单解决方案，实现了在"Re·View"平台上对初级保险公司的商业化输出。
In 2020, China Re Digital 1.0 was successfully implemented, the company will officially release China Re Digital 2.0 in 2021 to propel its digitalization.
2020年，中国再保险成功实现了数字化1.0，公司将于2021年正式推出中国再保险数字化2.0，以推动其全面数字化进程。
Eyeing on global expansion, China Re Hong Kong made a profit in the first year of business, and achieved a good start.
着眼全球扩张，中国再保险香港公司在开业第一年即实现盈利，取得了良好的开局。
China Re P&C established its Malaysia Branch and Chaucer Insurance Company Bermuda Branch.
中国再保险（集团）股份有限公司旗下中国再保险（香港）有限公司分别设立了马来西亚分公司和丘博保险（百慕大）分公司。
China Re's Singapore branch obtained a L&H reinsurance license.
中国再保险公司的新加坡分公司获得了人寿再保险牌照。
In optimizing the management of Chaucer, the group paid attention to strategy, capital and other important areas of management and control, with China Re P&C responsible for daily operation and management matters, successfully achieving the goal for "Three Stabilities" in terms of business, operation and team during the two-year transition period.
在优化管理楚科奇的过程中，集团注重战略、资本等管理与控制的关键领域，由中再产险负责日常运营管理工作，实现了两年过渡期内“业务稳、运营稳、团队稳”的目标。
China Re continued to synergize the domestic and foreign businesses, and optimized the business portfolio of its Beijing platform and Singapore branch to improve capital efficiency.
中国再保险继续发挥境内外业务协同效应，优化北京平台和新加坡分公司业务组合，提升资本使用效率。
China Re will adhere to the drivers of "platform operation, technology advancement and globalization", enhance the development of its principal business in the strategy of serving the country, strengthen its innovation and development competitiveness in the upgrading of the industry structure, reinforce the driving force of the business transformation in the changing of regulatory policies, build support for technological services in the digital transformation, strengthen the overall management and control of the group in risk prevention and control, and firmly insist on "profitable development, market benchmarks, risk compliance and digital transformation", and the business strategy of "stabilizing growth, optimizing structure, controlling risk and improving profitability" to fully promote high-quality development and generate stable returns for China Re's shareholders.
中国再保险将坚持“平台运营、科技驱动、全球化”的发展动力，秉持服务国家的战略导向，强化主业发展，提升产业结构升级中的创新发展竞争力，增强业务转型在监管政策变化下的驱动力，为数字化转型构建技术服支持，强化集团风险防控的整体管理和控制，坚定奉行“盈利发展、市场标杆、风险合规、数字化转型”的原则，以及“稳增长、优结构、控风险、提效益”的业务策略，全力推动高质量发展，为中再集团股东创造稳健的回报。
With the eighth annual National Insurance Awareness Day falling on July 8, China Re Group, a State-owned reinsurer, is promoting the event via a variety of activities conveying the positive philosophy of reinsurance.
Themed “walk together, we are together”, China Re has published short videos of healthy exercises and introductions of five key insurance factors online, and launched docking projects for alleviating poverty.
As a major force in the country’s reinsurance business, China Re is carrying out its promise of ensuring a good life for the people and is taking an active role in the country’s construction of the Healthy China 2030 plan, as well as efforts in poverty alleviation and the fight against the COVID-19 pandemic.
In 2017, China Re launched targeted poverty alleviation with insurance.
Last year, China Re upgraded its insurance poverty alleviation model by promoting the development of the lamian (hand-pulled noodles) industry and implementing other targeted measures in a bid to create a sustainable aid model that can prevent people slipping back into poverty and facilitate local development.
In the wake of the COVID-19 outbreak, China Continent Insurance Company (CCIC), a subsidiary of China Re, has capitalized insurance support in provinces including Zhejiang, Hebei, Henan, Jiangxi, Gansu, and Qinghai to promote its products for safeguarding the hard-won outcome of poverty alleviation, and has increased pandemic-related accident coverage free of charge.
By the end of May, more than 700,000 people have benefited from CCIC’s insurance coverage, with the total compensation surpassing 6 million yuan, according to China Re.
Since the virus outbreak, China Re has donated 10 million yuan to help fight the pandemic.
With expertise in the insurance and reinsurance sector, China Re has planned a guideline to provide clients with inquiries about the COVID-19 related insurance.
To help safeguard overseas Chinese students, China Re has also launched a medical insurance product for them, the group said.
China Pacific Insurance has introduced Swiss Re Principal Investments Co Asia Pte Ltd as its cornerstone investor.
On March 31, China Reinsurance (Group) Corporation — or China Re Group — held the 2019 Annual Results Announcement Online Press Conference in Beijing.
As the national player of the domestic reinsurance industry, China Re Group pushed forward the "One-Three-Five" Strategy in 2019, achieving rapid growth in premiums, significant profitability improvement, constant optimization of business mix and sound risk management.
In 2019, China Re Group obtained excellent overall outcomes.
Among China Re Group's gross written premiums, gross written premium income of P&C reinsurance was 42,679 million yuan, representing a year-on-year growth of 47.4 percent; gross written premium income of life and health reinsurance was 55,526 million, representing a growth of 5.9 percent; and gross written premium income of P&C primary insurance was 48,730 million yuan, representing a growth of 14.3 percent.
In 2019, China Re Group focused on the strategies of "platform operation, technology advancement and globalization", and actively implemented a series of major strategic initiatives.
First, China Re Group's platform operation yielded fruitful results.
Second, China Re Group leveraged technology advancements for its business transformation and upgrading.
The group pushed ahead with the "Digital China Re" Strategy, established internal and external digital industry platforms, built a new industry Internet ecology for pan-insurance; upgraded internal infrastructures, built the management command module system, enhanced internal data strengths and intelligent control level; formed open external innovation platforms, launched the catastrophe "Re-series", eIDI, eMAS, eF2 and the BRI-integrated service platforms.
The group built the reinsurance-primary insurance blockchain-based business platform, Nuclear Insurance Pool business management platform, China Re Life's AI underwriting platform, intelligent calculation platform for bancassurance data integration, and promoted digital transformation in an all-round manner to safeguard the steady development for the insurance sector.
Third, China Re Group fully unleashed business potentials through its vast global presence.
The group made continuous breakthroughs in its global layout, as China Re HK went into operation, China Re Singapore Branch received new life reinsurance license, and China Re P&C Malaysia Branch was approved by CBIRC for establishment.
China Re Group will follow the strategies of "platform operation, technology advancement and globalization", firmly adhere to effective development, meet market benchmarks, keep the bottom-line of risk compliance and continue digital transformation, implement the operation strategy of "stabilizing growth, optimizing structure, controlling risk, and improving profitability", while striving to achieve the "One-Three-Five" Strategy，high-quality development and sound growth in overall value, to deliver more value for China Re Group's customers and shareholders.
On December 16th, 2019, China Reinsurance (Hong Kong) Company Limited (hereinafter referred to as "China Re Hong Kong") was officially authorized by the Insurance Authority to carry on reinsurance of long-term business in or from Hong Kong.
China Re Hong Kong is a wholly-owned subsidiary of China Life Reinsurance Company Ltd with a paid-up capital of HK $2 billion.
China Re Hong Kong mainly operates a life and health reinsurance business, and offers a wide range of reinsurance products, such as life and health insurance, etc.
China Re Hong Kong is the first domestic insurance company approved to be established in Hong Kong since the establishment of the China Banking and Insurance Regulatory Commission.
Although China's life insurance premiums declined 4.75 percent year-on-year in the first 11 months of 2018, the sector is expected to register double-digit percentages this year according to Xing Li, an expert from Swiss Re, one of the world's largest reinsurers.
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