Research Collaboration with Swiss Re Group on Parametric Insurance Solutions

On November 13, 2013, CDRF and Swiss Reinsurance Company Ltd hold a signing ceremony for the joint research program on “Parametric Insurance Solutions for the Reform of the Relief System against Natural Disasters”.

Mr. Wang Mengkui, Chairman of the CDRF and former Minister of the DRC, and Michel M. Liès, Group CEO of Swiss Re, attend the signing ceremony. SG Lu Mai and Ivo Menzinger, Managing director and Head Asia-Pacific of Global Partnership of Swiss Re sign the agreement on behalf of the two parties.

Mr. Lu says in the ceremony that China is exposed to frequent natural disasters. Parametric Insurance is an advanced natural disaster risk financing mechanism that helps China to explore ways of improving its disaster relief system. He also expresses appreciation and gratitude to Swiss Re for its fulfillment of corporate social responsibility and its support for public policy research.

Mr. Menzinger points out that Swiss Re is very pleased to contribute to China’s social and economic development by rendering relevant financial and technological support as well as expertise for the research on this subject, including providing leading international case studies on parametric insurance solutions. Mr. Lu Qin, President of Swiss China, says: “Swiss Re has been long working on promoting insurance solutions for mitigating the losses of natural disasters in China. This joint research program enables Swiss Re to work more closely with Chinese government and make sure insurance plays a greater role in disaster relief and mitigation.”