Vice Minister Qu Dongyu met with Mr. Christian Mumenthaler, Chief Executive Officer of Swiss Reinsurance Company Ltd (Swiss Re), and his delegation in Beijing on the afternoon of 16 March 2017. The two sides exchanged views on strengthening cooperation in agricultural insurance and reinsurance.
Vice Minister Qu said that, with its economic growth entering into a new normal, China is badly in need of more diversified and sufficient agricultural insurance solutions to advance supply-side structural reform in agriculture, optimize and adjust agricultural structure, and pursue reform and innovation in agriculture and rural areas. The Swiss Re has conducted trailblazing business in agricultural insurance in China. Qu hoped that the Swiss Re could leverage its professional advantages to develop more insurance products which better fit China's national and agricultural conditions in the new context. Qu also encouraged the Swiss Re to explore projects to pilot risk diversification mechanisms of major agricultural disasters together with China and to deliver sustained and effective service for the development of agriculture and the increase of farmers' income in China.
Mr. Christian Mumenthaler fully agreed with Vice Minister Qu and briefed on the Group's activities in China, especially its practical experience in agricultural catastrophe insurance. He also expressed the willingness to step up cooperation with the MOA in joint pilot projects and to contribute to China's modern agriculture and supply-side reform in agriculture.