In terms of expanding the supply of catastrophe risk protection, the Group actively responded to major disasters, and gave full play to the role of reinsurance catastrophe risk protection in natural disasters such as the Henan floods.

在扩大巨灾风险保障供给方面，集团积极应对重大灾害，在河南洪涝等自然灾害中充分发挥再保险巨灾风险保障作用。

In addition,China Re showed innovation inits catastrophe risk management methods and successfully issued the first catastrophe bond in Hong Kong.

此外，中国再保险展示了其灾难风险管理方法的创新，并成功发行了香港首只灾难债券。

As the first insurance technology company in China to focus on catastrophe risk management, the Group's subsidiary China Re Catastrophe Risk Management Co. , Ltd. successfully developed the China Earthquake Catastrophe Model 3.5, which is the only scientific research project in China's insurance industry featured in the 13th Five-Year Plan Scientific and Technological Achievement Exhibition.

作为国内首家专注于灾害风险管理的保险科技公司，集团旗下有限公司中再灾害风险管理有限公司成功研发了中国地震灾害模型3.5，这是中国保险业唯一入选“十三五”科技成果展的科研项目。

It also released the commercial version of the China Typhoon Catastrophe Model 2.0, filling a void in the domestic market.

它还发布了中国台风灾难模型2.0的商业版，填补了国内市场的空白。

In 2021, China Re Catastrophe Risk Management's revenue exceeded 23 million yuan, reaching profitability in its first year.

2021年，中再巨灾风险管理营收超过2300万元，第一年实现盈利。

Besides, the group further took measures in risk management includes strengthening risk investigation and mitigation, launching China Re Catastrophe Risk Management System (CREST), establishing a negative list system and strengthening penetrative management of key risks.

The group jointly launched the China Earthquake Catastrophe Model 3.0 with the China Earthquake Administration, and signed usage agreements with 17 insurers.

Meanwhile, the group developed and completed the China Typhoon Catastrophe Model 2.0, and put in efforts in the pilot catastrophe projects in 16 provinces, cities and regions nationwide, serving as chief reinsurer for over 80 percent of the projects.

In terms of serving national strategies, the group launched China's first proprietary commercial earthquake catastrophe model certified by the Seismological Society of China.

It served as the chief reinsurer in more than 90 percent of government catastrophe projects, obtaining over 78 percent of the market share.

The group pushed ahead with the "Digital China Re" Strategy, established internal and external digital industry platforms, built a new industry Internet ecology for pan-insurance; upgraded internal infrastructures, built the management command module system, enhanced internal data strengths and intelligent control level; formed open external innovation platforms, launched the catastrophe "Re-series", eIDI, eMAS, eF2 and the BRI-integrated service platforms.

In 2017, the global protection gap for natural catastrophe risk alone amounted to around $193 billion.

The China Reinsurance Catastrophe Research Center, the country's first research institution focusing on major disasters, was launched on Thursday, aiming to provide technology and services support for a solid catastrophe insurance system.

The center, created by the country's reinsurance giant China RE, will be committed to catastrophe data base building and modeling, developing insurance products and forging an information sharing platform, according to Zhou Junhua, head of the research center.

Liang Tao, vice president of the China Insurance Regulatory Commission said the central government believes a fully functional catastrophe insurance system is highly necessary, and the commission will continue to promote regulation development.

Reinsurance is an important part of the catastrophe insurance system, saidxa0Yuan Linjing, CEO of China RE.

China RE held the first summit on catastrophe risk and insurance.

Between 2017 and 2020, catastrophe insurance will be promoted nationwide, covering a wide range of disasters, as a part of the country's system for disaster prevention and mitigation.

Analysts said catastrophe insurance will supplement the current insurance system in China, taking advantage of financial vehicles to strengthen the country's risk management capacity.

Given that the window to prevent climate catastrophe is closing fast, living costs are high, interest rates are rising and a recession is looming, a sustainable development goals, or SDG, stimulus package can provide developing countries with adequate liquidity, a wider reallocation of Special Drawing Rights, and create effective mechanisms for debt relief and restructuring.

Evergrande's crisis seems to bust the myth that once an enterprise is deeply entwined with the real economy, it cannot fail, and if it's allowed to go bust, there would be an economic catastrophe.

The agricultural catastrophe insurance launched in 2017 will be withdrawn from 2022, to be replaced by the two new types of farm insurance, the ministry confirmed.

Zhang at Automotive Foresight said that it may be a catastrophe for EV startups to try and compete with premium auto manufacturers, such as Mercedes-Benz, BMW and Audi, which have already announced plans to produce electric vehicles.

Financial giant keen on opportunities given broader catastrophe coverageAmid a more complicated geopolitical environment, Munich Re, a global leader in reinsurance, still sees China as an increasingly important market as the business opportunities it offers remain promising.

According to Munich Re's estimate, about 5 percent of natural catastrophe risks in China currently are covered by insurance or reinsurance, up from roughly 3 percent two decades ago.

Though not having disclosed the official estimate of catastrophe risk coverage in China, the National Financial Regulatory Administration recognized in November that the catastrophe insurance business is entering an upward cycle.

The move has at least averted economic catastrophe — for now.

China Reinsurance updated in July its catastrophe model for typhoons by integrating engineering and financial statistics.

Guterres said when addressing the opening ceremony of the 19th International Finance Forum Annual Meeting via video that the world is faced with multidimensional challenges, with the window to prevent a climate catastrophe closing fast, high living costs, rising interest rates, and a looming recession.

Pei Guang, director of the Shanghai Insurance Regulatory Commission, said that the commission will launch the trial of catastrophe bonds and optimize offshore insurance services in Shanghai.

The guidance also emphasized to regulate various types of mutual insurance, explore catastrophe insurance and reinsurance mechanisms and accelerate the development of shipping insurance, coastal tourism insurance, and environmental liability insurance to expand export credit insurance coverage.

It encouraged social forces to take part in emergency response including transportation and catastrophe risk insurance.