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International

PICC P&C, PICC Re sign reinsurance agreement

May 19, 2017 Reprints

The People's Insurance Company (Group) of China Ltd.'s subsidiaries PICC Property and Casualty Co. Ltd. and PICC Reinsurance Co. Ltd. have signed a reinsurance agreement under which PICC P&C will cede property premiums to PICC Re, Asia Insurance Review reported. PICC P&C will cede up to 50 billion Chinese yuan ($7.3 billion) of its book per year in exchange for a maximum of CNY 16 billion in commissions. The agreement will expire on Dec. 31.

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PICC P&C, PICC Re sign reinsurance agreement

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