Dr. Zhang Li of China Re P&C Becomes China’s First AIR Certified Catastrophe Modeler
On September 2014, Dr. Zhang Li, director of China Re P&C’s Insurance Experience Research Center and Fellow of the Casualty Actuarial Society (FCAS), successfully completed the AIR catastrophe modeler program requirements. He earned the official designation of Certified Catastrophe Modeler (CCM) from AIR Worldwide, a Boston-based catastrophe risk modeling firm. He also became China’s first AIR-certified catastrophe modeler.
In recent years, China Re P&C has strengthened its research input in catastrophe risk management. In 2010, China Re P&C received its first license to use RMS’ catastrophe model. Today, it is the only domestic reinsurance/insurance company using both AIR and RMS catastrophe models. In addition, a professional team was also built for catastrophe risk research and analysis. The recognition of Dr. Zhang Li by AIR Worldwide as a CCM demonstrates that China Re P&C has made substantial progress in building its professional competencies. Next, China Re P&C will continue to build upon its professional achievements through more catastrophe risk analysis and research, and through the accumulation of practical experience from participating in the design of domestic catastrophe insurance systems and pilot projects. Guided by the Communiqué of the Third Plenary Session of the 18th Central Committee of the Communist Party of China, and the State Council’s opinions about speeding up the development of modern insurance services, China Re P&C will provide powerful technical support to promote the establishment of China’s catastrophe insurance system.