China Re Catastrophe Risk Management Co., Ltd.

China Re Catastrophe Risk Management Co., Ltd. (hereinafter referred to as "China Re Catastrophe") was registered with the industry and commerce authorities in Jiangbei District, Chongqing on August 7. On August 25, China Re Catastrophe opened for business in Chongqing, marking the official debut of China's first fintech company focused on catastrophe risk management. China Re Catastrophe is a fintech company providing professional catastrophe risk management technology and services, jointly initiated and established by China Re Property and Casualty Reinsurance Company, which has professional value and unique advantages in the field of catastrophe technology under China Reinsurance Group, Huafeng Group, a subsidiary of the China Meteorological Administration, and NavInfo, which has leading technological advantages in domestic digital mapping and other fields. It will be committed to building a first-class international catastrophe risk management industrial internet ecosystem, assisting governments at all levels and the insurance industry in solving the main problems constraining the development of China's catastrophe insurance, and supporting the construction of China's modern risk governance system. China Re Catastrophe's main business is to focus on technology research and development specifically for catastrophe risks, and then develop catastrophe risk management evaluation systems, catastrophe models and tools with independent intellectual property rights, with key priorities including: establishing and promoting catastrophe databases, developing and promoting catastrophe models, developing and promoting innovative catastrophe insurance products, developing and promoting catastrophe information systems, releasing catastrophe risk information and conducting dynamic risk monitoring, analysis and assessment, and providing catastrophe risk management technical consulting and services as well as catastrophe claims analysis to China Re Group and its subsidiaries, local governments, direct insurance companies and enterprise groups. At present, China Re Catastrophe will integrate the advantageous resources of the China Re Catastrophe Research Center, Huafeng Group and NavInfo to form a top-level aggregation of research intellectual resources, and has released three major sub-platforms of its catastrophe data platform: Zai·Shang, Zai·Kan and Zai·Xing, with a multi-dimensional catastrophe database platform gradually being established. In May 2018, China's first earthquake catastrophe model with independent intellectual property rights was officially released, improving the accuracy of earthquake loss assessment. In December 2018, the snow disaster model was released. Next, China Re Catastrophe will join with multiple parties to research and develop catastrophe models for drought, heavy rainfall, typhoons, urban waterlogging and others.