Recently, China Re Group developed and launched the first Chinese political violence insurance product in China, providing effective and targeted insurance protection in the domestic market. Under the new requirements of the current high-quality BRI construction, we have built up a comprehensive and reliable risk protection “firewall” for many “going global” enterprises.

　　The product innovation meet the market demands. At present, many BRI countries and regions have weak economic foundations, complex geopolitical landscapes, different religious beliefs, and are threatened by terrorist threats, which have brought intricate overseas risks to the “going global” enterprises. Due to the limited access to risk information and weak publicity of risk, the “going global” enterprises often lack awareness of special risks such as political changes and terrorism, and lack response experience. In particular, the risk of political violence is highly concealed and lacks early warning. Once occurred, it will cause serious losses to and exert severe impact on enterprises and individuals.

　　In China, political violence insurance is still in its infancy, with less than 20% of Chinese overseas engineering projects receiving a small amount of insurance coverage through overseas markets. The first domestic Chinese political violence insurance product developed by China Re Group was put into operation in a short time after its launch. China Re P&C, a core subsidiary of China Re Group, has successfully underwritten 5 political violence insurance projects covering Turkey, Bangladesh, Guinea, Pakistan, Algeria and other countries. Meanwhile, China Continent Insurance, a subsidiary of China Re Group, received political violence insurance demand for overseas projects from China Aluminum Corporation, CITIC Construction and other “going out” enterprises, and successfully underwrote insurance policies with an accumulate insurance liability of nearly USD200 million. Recently, China Continent Insurance successively received consultations on political violence insurance for overseas projects of central enterprises. Based on careful assessments of key factors such as the type, category, industry, investment area and investment amount of the insured project, China Continent Insurance will customize political violence risk protection plans to meet customers’ actual needs.