CIB has strived for the global strategy of development since its establishment and acts always as a pioneer to provide the innovative products and services to domestic and oversea clients. CIB cooperated with Lloyd's China in 2016 to explore the coverholder model in China and a pilot program was successfully launched to provide underwriting services to the risk carriers by local professional underwriting team. The Coverholder Department was set up formally in April of 2016. And CIB was officially approved as the first coverholder of Lloyd's China on 27 October 2016.
The Coverholder Department has written the business formally since 1 January 2017 and has established cooperation-ship with local clients, including cedants and brokers. Composed of the local professional underwriters, the Coverholder Department is focusing on providing one-stop reinsurance service platform to our clients, depending on the reliable ability of risk assessment and risk management, also supported by the mature existing broking distribution and services of CIB. And we give best warranty to local clients with risk carrier's excellent security rating and financial credit. And we also manage our risk clearly and efficiently by designing a web-based independent binding authority underwriting system to enhance our ability of risk assessment and management further.
Authorised Classes of Business
Terrorism Facultative Reinsurance Business
Terrorism Standalone and Terrorism Extension under Property and BI Policies
Our capacity: USD50mil. (Any One Occurrence and In Aggregate)