Global insurance and reinsurance giant Swiss Re has signed a new Cooperation Framework Agreement with China Pacific Insurance (Group) Company Limited, deepening ties within the important country. Swiss Re had long highlighted China as the likely source of significant growth in insurance and reinsurance premiums for the firm and has been active there for many years.
During that time the company has cooperated with Chinese domestic market insurer China Pacific Insurance a number of times, on initiatives ranging from education to specific parametric insurance products.
This relationship continues today and Swiss Re has entered into a new cooperation agreement with China Pacific recently. reinsurancene.ws, quoted the company to have said it could not comment on the nature of the partnership, due to confidentiality in the client relationship.
However, it’s assumed that the pair will continue to partner on certain opportunities in the Chinese domestic insurance market, helping Swiss Re to grow its revenue coming from that all-important marketplace.