“One belt, one road” Financial Service Excellence Award
Recently, “2017 China Social Development Summit - 2018 Social Blue Book Conference” was held in Beijing, which was sponsored by the Xinhua News China Comment magazine, Bureau of Scientific Research Management of Chinese Academy of Social Science, Institute of Social Research of Chinese Academy of Social Science, Social Science Academic Press (China) jointly. CCIC won the “One belt, one road” Financial Service Excellence Award.
Rated as "A" again by A.M. Best
In December, the famous international rating agency - A.M. Best Co. officially announced that China Reinsurance Group and its three subsidiaries including CCIC were awarded “A (excellent)” for Financial Strength Rating (FSR) and “a” for Issuer Credit Rating (ICR). Rating outlook is stable. This is the fourth consecutive years for us to be awarded as “A” rating by A.M. Best.A.M. Best is a worldwide rating agency with global reputation and influence, the rating standard and results of which are generally recognized by the international insurance and reinsurance industry. According to the A.M. Best rating structure, “A” rating in the financial strength assessment means that the company has excellent financial strength and outstanding in management and operation. This rating applies to China Re Group, China Re Property & Casualty, China Re Life and CCIC, and it reflects the strong risk-adjusted capital ratio, leading market position and excellent business performance of the Group.CCIC belongs to China Re Group) and we are the only subsidiary that specialized in non-life primary insurance. We have been awarded “A (excellent)” for Financial Strength Rating (FSR) and “a” for Issuer Credit Rating (ICR) by A.M. Best for four years. This remarkable excellence mainly results from 1) the company has a strong market position, ranked no.6 in domestic property & casualty insurance market in terms of premium volume; 2) our business grows steadily with favorable results is; 3) we keep on improving asset quality and solvency; 4) we set up the risk appetite system and risk management information system that are leading in the industry, and our risk management techniques accumulate continuously.
"Financial Service Innovation Award" in 2017 China Automobile Dealers Industry
During November 13-15, China Automobile Dealers Association held its 2017 annual meeting in Suzhou. Our “Insurance proposal for chains of parallel import cars "and its implementation results took us to the "Financial Service Innovation Award" in the 2017 China Automobile Dealers Industry. This is the sixth time that CCIC won the annual award from China Auto Dealers Association.
Two honors in National Public Insurance Day on July 8th
On November 15th, CCIC was nominated the "Best Organization Award" and 2017 China Insurance Industry “July 8th contribution to the Public Welfare and Poverty Reduction Award”. In 2017, we provided free house insurance coverage for local poor people in Gangcha county, Qinghai. The project was so successful that the Insurance Association of China (IAC) awarded us “7.8 Special Contributions in Fighting Poverty". Meanwhile, Gansu branch set up a project to BaiTu village in southern Gansu and Zhejiang branch launched the project of "CCIC Cares about Rural Children Whose Parents Working Thousands Miles Away”. Both projects were nominated by IAC in 2017 as "National Pioneer in Alleviating Poverty".During the period of this year’s insurance public day event, we actively took part in the event. With our efforts and wide network, we launched a series of activities for propagation, such as a running campaign for poverty reduction, “Insurance Makes Your Life Colorful” painting campaign, “Penetration with 5 Approaches” etc. More than 2000 branches and sub-branches of our company attended. We wish to pervade insurance concept, listen to the public voice, improve service quality and shape the positive image of the industry through these promotion events. After the running campaign, we connected with Qinhai province to help it reduce poverty. We provide free insurance protection for rural houses in Chagang county, Qinhai, the total sum insured of which is CNY53.32 million, and the equivalent premium is CNY266.6 thousand. Risks transfer to us and this greatly reduce the potential loss to local residents.
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