I’d like to extend my warmest greetings to everyone at the special season when autumn crispness gives way to winter.
On November 19-20, AXA marked a historic milestone as AXA Partners Meeting has been held for the first time outside of Europe, in the Greater Bay Area, spanning Hongkong and Shenzhen. With nearly 50 senior leaders in attendance, the meeting sparked vibrant discussions about AXA’s future, reaffirming our collective vision for growth and innovation.
The timing couldn’t be more symbolic, coinciding with the 60th anniversary of diplomatic relations between China and France, and the 25 years of AXA’s presence in China, setting stage for a meaning dialogue and collaboration.
The meeting delivered significant outcomes. Our global leadership team praised AXA Tianping’s achievements during its transformation journey. A particular highlight was our visit to BYD Group headquarters where we gained an in-depth view of the tremendous growth and relentless innovation driving China’s new energy vehicle industry. The visit sparked insightful discussions about risk management and underwriting opportunities tailored to NEVs. We’ve also recognized the the strong synergies between AXA’s global network and insurance capabilities with BYD’s expanding international presence. Together, we look forward to exploring partnerships that support the sustainable growth of China’ NEV sector.
On November 21, AXA Group and PICC Group took a significant step forward by signing a memorandum of cooperation in Beijing. This partnership underscores a shared commitment to combining our strengths, exploring global collaboration opportunities and driving innovation in products and technologies for the purpose of driving sustainable and healthy growth of the global insurance market together. This strategic move reflects AXA Group’s strong support for the “Belt and Road” Initiative and its dedication in as siting Chinese enterprises in their international expansion. By joining forces, AXA and PICC are setting a new benchmark for Sino-French cooperation in finance and insurance sectors, strengthening ties between the two organizations while positively shaping the global insurance landscape.
The recent Partners Meeting in China and the partnership with PICC exemplify AXA Group’s unwavering confidence in China’s development prospects and its resolute determination to grasp the opportunities presented by the high-quality development of the Chinese insurance industry. AXA Tianping is also making great strides towards a new era of profitability driven by the unwavering dedication and teamwork of our exceptional staff.
Looking ahead, we will fully harness the power of AXA Group’s global network, embrace policy opportunities.By strengthening strategic partnerships with cross-industry leaders, we aim to uphold our values of integrity, foster innovation, and achieve steady, sustainable growth for a brighter future.
I’d like to extend my warmest greetings to everyone at the special season when autumn crispness gives way to winter.
On November 19-20, AXA marked a historic milestone as AXA Partners Meeting has been held for the first time outside of Europe, in the Greater Bay Area, spanning Hongkong and Shenzhen. With nearly 50 senior leaders in attendance, the meeting sparked vibrant discussions about AXA’s future, reaffirming our collective vision for growth and innovation.
The timing couldn’t be more symbolic, coinciding with the 60th anniversary of diplomatic relations between China and France, and the 25 years of AXA’s presence in China, setting stage for a meaning dialogue and collaboration.
The meeting delivered significant outcomes. Our global leadership team praised AXA Tianping’s achievements during its transformation journey. A particular highlight was our visit to BYD Group headquarters where we gained an in-depth view of the tremendous growth and relentless innovation driving China’s new energy vehicle industry. The visit sparked insightful discussions about risk management and underwriting opportunities tailored to NEVs. We’ve also recognized the the strong synergies between AXA’s global network and insurance capabilities with BYD’s expanding international presence. Together, we look forward to exploring partnerships that support the sustainable growth of China’ NEV sector.
On November 21, AXA Group and PICC Group took a significant step forward by signing a memorandum of cooperation in Beijing. This partnership underscores a shared commitment to combining our strengths, exploring global collaboration opportunities and driving innovation in products and technologies for the purpose of driving sustainable and healthy growth of the global insurance market together. This strategic move reflects AXA Group’s strong support for the “Belt and Road” Initiative and its dedication in as siting Chinese enterprises in their international expansion. By joining forces, AXA and PICC are setting a new benchmark for Sino-French cooperation in finance and insurance sectors, strengthening ties between the two organizations while positively shaping the global insurance landscape.
The recent Partners Meeting in China and the partnership with PICC exemplify AXA Group’s unwavering confidence in China’s development prospects and its resolute determination to grasp the opportunities presented by the high-quality development of the Chinese insurance industry. AXA Tianping is also making great strides towards a new era of profitability driven by the unwavering dedication and teamwork of our exceptional staff.
Looking ahead, we will fully harness the power of AXA Group’s global network, embrace policy opportunities.By strengthening strategic partnerships with cross-industry leaders, we aim to uphold our values of integrity, foster innovation, and achieve steady, sustainable growth for a brighter future.
25 employees from headquarters and branches have stood out at the end of the AXA Star Nomination, being awarded for embedding AXA values throughout their daily work. A special column has been created for us to know them better.
This month, we will delighted to introduce two Transformation Stars: Xing Qingmeng from the Financial Accounting Planning Department and Wei Maoxin, head of the Non-motor Insurance Marketing Department II of AXA Tianping Qingdao branch.
Xing Qingmeng, working for reinsurance accounting, has actively participated in and promoted the company’s transformation from 1.0 to 3.0 in the past four years since joining AXA. He has not only participated in the implementation of new businesses like the GBA Greater Bay Area cross-border reinsurance project for Hong Kong vehicles, but also actively supported the construction of the Linjiang Reinsurance Center, assisting the company in responding to national policies and opening new channels and platforms.
In terms of financial transformation, he assisted the Finance Department in adopting optimization measures such as Funds withheld clauses, effectively improving the company’s solvency. Especially in 2023, under the circumstances of personal information outbound restrictions, he innovatively adapted data processing methods, ultimately leading to the implementation of Funds withheld clauses, optimizing the company’s solvency by approximately 15 percentage points in the fourth quarter of 2023.
Xing Qingmeng’s outstanding contributions in 2023 include:
Successfully entering GBA business into the system and completing the first batch of reconciliation and settlement.
Timely completing the financial system data docking, account setting, and account opening for the Reinsurance Center, supporting the Linjiang Reinsurance Center in undertaking the business of the Shanghai Insurance Exchange International Board.
Receiving a letter of gratitude from the Shanghai Insurance Exchange, affirming his support in the construction of the Shanghai Insurance Exchange settlement platform.
Optimizing the company’s solvency by approximately 15 percentage points in the fourth quarter of 2023 through Funds withheld and LOC measures.
Q1: How does it feel to be awarded AXA Star?
It is an honor and a pride to be awarded AXA Transformation Star. To be a ripple in AXA’s grand transformation journey, I couldn’t have done it without the teamwork, the guidance of leaders, and the efforts of every colleague working towards the common goal. In the great river of the company’s transformation, any of us could be the next ripple.
Q2: What are your habits to keep confident, healthy and positive?
I persist in jogging in the morning, exercising my body, clearing my mind, and preparing for the day ahead.
Q3: Please share with us a book, a movie or a theatre piece.
As a law enthusiast, I recently read Luo Xiang’s “Details of the Rule of Law.” One cannot try to discover what he already knows, nor can he try to discover what he does not know. He cannot discover what he knows because there is no need to explore once he knows; he cannot discover what he does not know because he doesn’t even know what he should explore.
Socrates’ solution to the paradox is that all knowledge and exploration are only a form of memory. For the ignorant, one only needs to remind them so that they can recall what they already know. The desire for fairness and justice is the factory setting of human beings, it doesn’t need to be instilled, just activated.
Constantly remind yourself not to exploit others, not to use others’ suffering. For things we cannot control, we remain optimistic; for things we can control, we remain cautious.
Wei Maoxin, head of the Non-motor Insurance Marketing Department II of AXA Tianping Qingdao branch, has closely followed the company’s strategy and actively participated in the development of non-automotive insurance business since joining AXA in 2018. In 2021, he proactively transformed to the frontline sales, leading the team to develop the health insurance, commercial insurance, and retail insurance markets. Faced with unfamiliarity in the early stage of business transformation, he quickly grew into a competent channel business promoter through hard work and practice. He actively held channel morning meetings, thoroughly explaining the AXA brand, products, and services, winning the recognition and trust of business partners.
Wei Maoxin’s outstanding contributions in 2023 include:
Excellent performance in health insurance business: Leading the team to achieve a premium income of 6.95 million yuan in health insurance business, exceeding the annual plan by 950,000 yuan, with a year-on-year growth of 44%. The ATP of Qingdao Branch accounted for more than 85% of the premium in the Qingdao mid-end medical insurance market, and AGH accounted for more than 60% in the Qingdao high-end medical insurance market, maintaining a leading market position.
Actively participating in the work of the headquarters Marketing Department: Providing ideas and participating in script modifications for the health management service video, contributing to the enhancement of the AXA brand image.
Actively holding channel production meetings: Conducted more than 100 sessions in 2023, and won the honorary title of three-star lecturer from the headquarters due to outstanding performance. He ranked first in the lecturer competition, thoroughly explaining products and services to business partners, and enhancing the team’s professional capabilities.
Q1: How does it feel to be awarded AXA Star?
I am very grateful to the leaders and colleagues from headquarters and branches for recognizing me with the title of “Transformation Star.” Behind this glorious title is more the guidance of branch leaders and the support of colleagues. I will continue to follow the transformation strategy of headquarters, execute the work indicators of the branch, and use my own actions to drive more colleagues to contribute to the development of the company.
Q2: What are your habits to keep confident, healthy and positive?
In my spare time, I like to make various models. I feel that making models is a process that allows me to calm down and focus on research, just like dealing with the mundane tasks at work. It is like every small “part,” calm down, polish each “part” repeatedly, assemble each “part” reasonably, and finally process all the work smoothly.
Q3: Please share with us a book, a movie or a theatre piece.
I recently read “Growth Upward” by Jiubian. This book conveys a positive energy, encouraging us to believe that we can create a better life and become a better self. The book emphasizes that strong people are optimistic about the future but cautious in dealing with current challenges. This optimism is not blind but based on a deep understanding of life and the world.
In 2024, we celebrate the 60th anniversary of diplomatic relations between China and France, as well as AXA’s 25th anniversary in China. AXA Group remains confident in China’s development prospects and recognizes the significant opportunities for high-quality growth in the insurance industry. After four years of strategic transformation and development, AXA Tianping has achieved remarkable highlights in business diversification, distribution enhancement, and team capability building. The company is expected to achieve profitability in 2024 and enter a new era of development with a more vibrant posture.
In order to leverage global network resources more fully, seize policy opportunities and era dividends, and strengthen partnerships with cross-industry leaders, AXA Tianping will innovate and develop in a steady and sound manner.Against this backdrop, the AXA Partners Meeting was held for the first time outside of Europe, taking place in Hong Kong and Shenzhen from November 19 to 20. Gathering nearly 50 senior executives, including the CEO, Deputy CEO, COO, and CFO of AXA Group, and CEO of AXA in France, Europe, America, Africa, international markets, and Greater China.
During the meeting on November 19, the global management team listened to presentations from AXA Tianping CEO Kevin CHOR and Chief Actuary & Pricing Scott Yin. They praised and affirmed the company’s achievements and showed great interest in the plan to establish an excellence center for new energy vehicles in China. As the world’s largest new energy vehicle market, China is influencing the global new energy vehicle industry chain and technology at an unprecedented speed and depth. AXA Tianping has profound insights into the transformation and frontiers of new energy vehicle insurance. This initiative will not only accurately and efficiently gather new energy vehicle insurance resources in China, but also benefit from closer collaboration with partners in the new energy vehicle insurance ecosystem.
On November 20, AXA Group CEO Thomas Buberl, accompanied by AXA Greater China CEO Sally WANand AXA Tianping Chief Marketing Officer Siyuan Dai , visited Shenzhen Mayor Qin Weizhong. Mayor Qin warmly welcomed and strongly supported the AXA Partners Meetingin Shenzhen, and looked forward to AXA’s role in promoting the sustainable development of new forms of productive forces such as new energy and low-altitude economy. He also expected AXA to meet the financial support and risk protection needs of Shenzhen enterprises, including BYD, during their overseas expansion, and to further deepen financial linkage between Shenzhen and Hong Kong.
Mr. Buberl thanked the Shenzhen municipal government and leaders for their long-standing support to AXA Group, and listened closely to the municipal party committee and government’s guidance and suggestions for AXA’s future investment and development in Shenzhen and the Greater Bay Area. He said that Shenzhen’s pragmatic and efficient, harmonious and friendly business environment impressed him, and he looked forward to playing an important role in supporting Shenzhen enterprises “going global” and enhancing Shenzhen’s global economic influence, providing global network resources and professional insurance services.
On November 20, led by CEO Thomas Buberl, the AXA partnersvisited BYD, a global leader in new energy vehicles, to discuss industry trends, strategic vision, and business priorities. Chinese and French government representatives, including French Consul General in Guangzhou, Mr. Syvlain FOURRIERE, accompanied the team throughout the visit.
Mr. Buberl enthusiastically test-drove the BYD U9 pure electric supercar, experiencing its powerful acceleration from 0 to 100 km/h in just 2 seconds. The team also experienced the unique charm of the unmanned cloud bus in the park, a low-carbon public transportation solution for a three-dimensional city. In the BYD Museum located in the Hexagon Building, the global management team intuitively felt the brilliant achievements of China’s new energy industry represented by BYD, deeply sensing the vigorous vitality and continuous innovation in China’s new energy vehicle field.
During the lunch session, BYD Senior Vice President and CFO Zhou Yalin, along with BYD Insurance General Manager Wang Yong and Deputy General Manager and Secretary of the Board of Directors Li Ruyi, accompanied the AXA partners.
The idea of establishing a new energy vehicle excellence center sparked a heated discussion among the guests. The combination of AXA’s strong resources and experience with BYD’s cutting-edge achievements and technical data is bound to become a milestone significance for promoting the leapfrog development of the new energy and financial services industries in the Greater Bay Area and even globally. It also builds a broad imagination space for the cooperation and win-win results between the two sides on a global scale.
In the subsequent high-level discussion, both sides exchanged views on topics of mutual interest in a friendly and harmonious atmosphere of mutual trust. They shared strategic visions and leading technologies, discussed business opportunities in overseas market expansion, and exchanged professional topics on development strategies, market trends, technology research and development, overseas expansion, and risk management.
AXA’s global network resources and guarantee capabilities highly match BYD’s overseas business expansion needs. Both sides are expected to explore various risk management and underwriting solutions and seek comprehensive risk management solutions on a global scale.
This visit by the AXA Partners to BYD Group marks a good beginning for the two sides to carry out in-depth cooperation in the development of the new energy industry chain, financial security for overseas expansion, and new types of risk management. We look forward to working together to open a new chapter of future development.
Since the AXA Tianping Reinsurance Operations Center was established in the Lingang New Area in 2023, it has always adhered to the concept of openness and innovation, and actively explored innovative development paths in the reinsurance field. From November 5 to 10, at the 7th China International Import Expo, AXA once again appeared at the Expo, discussing the development trends of the reinsurance industry with colleagues from all walks of life and showcasing the fruitful results we have achieved in the Lingang New Area.
Last year, AXA Tianping, as one of the reinsurance pioneer companies to settle in the Lingang International Reinsurance Center, successfully signed the first international inward reinsurance contract at the Shanghai International Reinsurance Registration and Trading Center, laying a solid foundation for the construction of Shanghai as an international reinsurance center. This year, we have achieved another breakthrough by successfully completing the first full-process reinsurance transaction within the Shanghai International Reinsurance Registration and Trading Center, marking another significant achievement in the field of cross-border financial services.
The excellent performance of AXA Tianping Shanghai Reinsurance Operations Center, such as being one of the first batch of companies to settle in the Lingang International Reinsurance Center and signing the first international inward reinsurance contract, has become a benchmark for high-level opening up in the insurance industry. We actively participated in the formulation of the general data list for cross-border scenarios in the reinsurance field, promoting the innovation of cross-border data flow mechanisms.
On November 6, Chen Jinshan, member of the Standing Committee of the Shanghai Municipal Committee, Secretary of the Party Working Committee and Director of the Administrative Committee of the Lingang New Area, visited the AXA booth and encouraged AXA to further progress.affirmation of our t. Secretary Chen showed concern for the development of AXA Tianping Shanghai Reinsurance Operations Center in the Lingang New Area and put forward ardent hopes. He hoped that AXA would continue to leverage its professional advantages in insurance protection and risk management, and continue to contribute to the construction of Shanghai International Reinsurance Center. He emphasized that AXA should continue to fulfill its corporate responsibilities and commitment to the Chinese market, serve the development of the real economy, and maintain financial and social stability.
AXA Tianping will continue to increase investment and promote innovation and cooperation with the Lingang New Area in the fields of reinsurance and finech. We will continue to leverage our professional advantages in insurance protection and risk management, serve the development of the real economy, and maintain financial and social stability. With the support of a series of supporting policies from the Lingang New Area government, we will further increase our innovation and development efforts, and continue to invest in business expansion, technology and system construction, product and solution design, and professional team building, to promote the rapid launch of our business and make greater contributions to the prosperity and development of the Lingang New Area. Moving forward together,we will the CIIE as a new starting point and jointly open a new chapter for AXA Tianping in the Chinese market, and strive for the long-term development goals of the company.
The Data Governance Forum of the 2024 World Internet Conference was held in Wuzhen on November 21. Mr. Wang Jingtao, Deputy Director of the Cyberspace Administration of China, and other distinguished guests attended and delivered speeches. The forum focused on data cross-border flow, exploring global cooperation, management practices, and risk response, aiming to build an open and win-win international cooperation framework and promote efficient, convenient, and secure data cross-border flow. More than 160 representatives from domestic and international enterprises, universities, and research institutions participated in the forum.
Mr. Pierre LAUR, Chief Financial Officer of AXA Tianping, stated that as a global leader in the insurance industry, AXA actively participates in the development of the Chinese insurance market and is committed to promoting data cross-border flow cooperation. AXA serves nearly 100 million customers in more than 50 countries and regions worldwide, witnessing and participating in the support of insurance for economic globalization and digital growth. Over the past 25 years in China, AXA Tianping has always followed the guidance of regulatory authorities, actively developing new insurance products, and providing consumers with more protection solutions. AXA actively responded to the call of the Chinese government, becoming one of the first insurance companies to enter the Lingang International Reinsurance Center in Shanghai, and successfully completed the first cross-border capital settlement through the Shanghai International Reinsurance Registration and Trading Center, greatly enhancing the efficiency of clearing and settlement processes and once again witnessing a milestone moment in the opening up of the Chinese financial industry.
International reinsurance plays a crucial role in global risk dispersion and management. It not only helps China reduce local risk exposure and achieve risk dispersion and mutual insurance but also contributes to improving the pricing and risk underwriting capabilities of domestic insurance products. As a data-driven industry, the insurance sector heavily relies on the quality, granularity, and timeliness of key business data. Seamless and secure cross-border data transmission is one of the most important driving factors for international reinsurance. It can expand the global risk-sharing capabilities of reinsurance and provide greater value to customers.
Mr. Luo Fangyi, Head of Legal and Compliance at AXA Tianping, emphasized the company’s proactive response to the Chinese government’s call for enhanced data security and compliance. AXA Tianping has actively engaged in the application for security assessment for outbound data work to ensure the legality and safety of cross-border data flow. Since the implementation of the “Guidelines for the Application for Security Assessment for Outbound Data” in 2022, AXA Tianping has conducted a comprehensive review of outbound data requirements across the organization, focusing on scenarios where outbound data is necessary. The company has carried out multi-dimensional self-assessments to ensure the legality, legitimacy, and security of outbound data.
With strong support from the Shanghai Municipal Financial Office, AXA Tianping received full-scenario and full-field approval from the Cyberspace Administration in July this year. This approval underscores the Cyberspace Administration’s commitment to outbound data security, reflecting its efficient, professional work ethic, and high level of expertise.
AXA Tianping’s successful completion of the “Security Assessment for Outbound Data” project has received high praise and recognition from overseas recipients. This achievement has also deepened their understanding and support for China’s data compliance management efforts. Data is an indispensable new factor of production in the process of high-quality development. AXA Tianping will continue to strengthen and improve its data information management processes under the guidance of regulatory authorities at all levels, including the full-process management system for personal information data, the classification system for sensitive personal information, the emergency response mechanism for personal information, and the risk assessment mechanism for personal information processing. By taking these small steps towards continuous improvement, AXA Tianping aims to contribute to the development of data information protection in the financial and insurance industry.
Beijing, November 29 – AXA Group (AXA) and People’s Insurance Company (Group) of China (PICC Group) recently signed a memorandum of understanding (MOU) at PICC Group’s headquarters in Beijing. Based on their respective strengths, both parties will explore innovative cooperation and exchange models to deepen international cooperation, product development, and technological innovation globally, jointly promoting the sustainable and healthy development of the global insurance market.
Attendees at the signing ceremony included PICC Group President Zhao Peng, PICC Group Vice President and PICC Property & Casualty Company Limited President Yu Ze, PICC Group Vice President Cai Zhiwei, PICC Group Cooperation Department General Manager Zhang Haijun, PICC Group Insurance Department General Manager Peng Gang, PICC Reinsurance Company Limited President Zhang Qing, AXA Group CEO Thomas Buberl, AXA Greater China CEO Yin Xuanhui, AXA Tianping Property & Casualty Insurance Company Limited CEO Zuo Weihao, AXA Tianping Assistant General Manager Zeng Xiang, AXA Tianping Assistant General Manager and Chief Actuary Yin Zhaonan, and AXA Tianping Chief Marketing Officer Dai Siyuan.
Strong Synergy to Serve National Financial Construction
Witnessed by PICC Group President Zhao Peng and AXA Group CEO Thomas Buberl, PICC Group Vice President Cai Zhiwei and AXA Greater China CEO Yin Xuanhui signed the MOU, marking a comprehensive and in-depth collaboration between the two global insurance giants in areas including local insurance services, underwriting capacity support, shared service networks, two-way expansion of reinsurance business, international cooperation on global solutions, product innovation, and technological innovation.
AXA will also support PICC Group in enhancing its international business capabilities and explore the development of international business cooperation utilizing AXA’s global network.
This cooperation is a significant step for AXA in responding to the “Belt and Road” initiative and supporting the national strategy of “going global” for Chinese enterprises, with a positive impact on the global insurance market.
AXA Group CEO Thomas Buberl stated, “This year marks the 60th anniversary of diplomatic relations between China and France and the 25th anniversary of AXA’s presence in China. The cooperation with PICC Group is of great significance in this context. AXA remains committed to China’s development and is willing to share its network resources and professional capabilities across five continents, continuously enhancing the global competitiveness of Chinese insurance institutions represented by PICC Group, creating a new chapter in Sino-French economic and trade cooperation, and promoting the sustainable and healthy development of the global insurance market.”
PICC Group President Zhao Peng also fully affirmed the cooperation, expressing hope that both parties would further broaden cooperation in global development strategy planning, risk reduction management, climate change response, and artificial intelligence based on existing cooperation. He also emphasized deepening product and technological innovation collaboration, actively conducting exchanges at various levels, and supporting each other’s agency and business expansion both domestically and internationally, promoting the deepening and implementation of strategic cooperation, and making PICC and AXA’s cooperation a new model for Sino-French financial and insurance cooperation.
Innovative Cooperation, Pioneering Industry Development
With the issuance of the new “National Ten Measures for Insurance Development,” China’s insurance industry has also ushered in a new top-level design, charting a clear path and direction—opening up is not only a distinctive feature of Chinese modernization but also an important driving force for the reform and development of the financial sector.This strategic cooperation is a proactive implementation of the spirit of the Central Financial Work Conference and a strong push for the high-quality “two-way opening” development of China’s insurance industry under the guidance of the new “National Ten Measures for Insurance Development.”
As a global leading insurance group, the strong partnership between AXA Group and PICC Group has a demonstration effect in the industry, further exploring the possibilities of innovative cooperation for Sino-foreign insurance companies. This cooperation will not only help better serve Chinese enterprises “going global” but also have a positive impact on the development of global insurance business.
As early as during the Lujiazui Forum 2024 in June, AXA Hong Kong signed a memorandum of understanding on overseas partner cooperation with PICC Property & Casualty Company Limited, announcing for the first time the strategic cooperation between both parties in global reinsurance business, demonstrating AXA’s leadership in the insurance industry—promoting high-quality financial development through cooperation and innovation, thereby addressing current global economic challenges and promoting sustained growth; In September, AXA Group and PICC Property & Casualty Company Limited held high-level talks at AXA’s headquarters in Paris, reiterating their commitment to fully support PICC Group’s internationalization strategy and help enhance its competitiveness in the global market.
Anticipating Challenges, Addressing Global Uncertainty
According to AXA Group’s recently released Future Risks Report 2024, the world is facing a series of diverse and severe challenges, from climate change and geopolitical friction to cybersecurity, artificial intelligence, and big data. 87% of surveyed experts believe that the world is more vulnerable to risks than before, and 91% of surveyed experts and 72% of surveyed members of the public agree on the importance of insurance companies in mitigating risks.The increasingly complex insurance landscape requires the industry to maintain competitiveness, calling for more practical and in-depth collaboration between leading enterprises to enhance risk resilience and promote human development and well-being.
Against the backdrop of increasing global political and economic uncertainty, the signing of the MOU between AXA Group and PICC Group aims to focus on long-term planning and strategic coordination. By strengthening regional business cooperation globally, it has expanded the breadth and depth of financial industry opening-up, accumulating energy and momentum for better serving Chinese modernization.
In June of this year, AXA Tianping launched a week-long “Wechat Steps Donation Challenge” to collect charitable donation for in stalling water purification equipment at the Naituo Town Central School in Liangshan Yi Autonomous Prefecture, Sichuan Province to provide sanitary water to the local students.
Four months later, on October 18 and 19, AXA Tianping joined hands with six distribution partners – Fanhua, Helix, Juntian, Liming, Mingya, and Zhiyuan to visit Liangshan. During this visit, the volunteers not only toured the school and witnessed the significant changes brought about by the water purification project to the children’s health but also visited some students’ homes on the second day, directly delivering the warmth of love to every corner in need of care.
The Journey of Love Is Set to Begin
On the morning of October 18, the team of volunteers arrived at the Naituo Town Central School in Liangshan. It happened to be during the break, and a group of enthusiastic and curious children quickly surrounded the volunteers, their innocent smiles, clear eyes, and warm welcome lighting up the hearts of each volunteer.
In the presence of representatives from our charity foundation partner, Aiyou Charity Foundation, the school principal received a plaque commemorating the donation of the water purification equipment from Ms. Siyuan Dai, the Office Director of the General Manager and Chief Transformation Officer of AXA Tianping. This plaque symbolized the accumulated love of AXA Tianping’s employees and volunteers, transforming into clean water accessible to all teachers and students. Clear drinking water flowed slowly from the device, building an unbreakable health barrier for the children’s study and life.
The distribution partners who came to visit the children also generously donated sports and learning supplies essential to their daily lives. Each carefully prepared gift contained love and expectations for their future growth.
Following the donation, the volunteer team, accompanied by the children, ran on the playground in the sunlight, sweating and experiencing the joy of sports and the charm of health.
Enhancing Awareness
In the afternoon, the volunteer lecturer delivered a lively and interesting “Water” themed lecture for the children. The future masters of our world listened attentively and interacted enthusiastically throughout the lecture. Through this lecture, they not only learned the basic judgment standards for safe drinking water but also deeply realized the serious harm that unclean water sources can pose to health. Subtly, their health awareness was improved, laying a solid foundation for developing good health habits in the future.
Building Dreams Together
After the lecture, the volunteers had an in-depth conversation with the school principal, listening to his heartfelt stories about the children’s living and learning conditions, life situations, and progress. The volunteers not only experienced the hardships and difficulties of local education work but also gained a deeper understanding of the actual needs and expectations of the teachers and students.
Household Visits
On October 19, the volunteer team embarked on a warm journey, splitting into three groups and arriving in Donghong Village, Dongping Village, and Ruicheng Village. They visited six students’ families. Under the smoke of cooking fires, the volunteers sat down and talked with the children and their parents, conveying sincere emotions and care.
In the afternoon, all the volunteers gathered at the Children’s Home, where they prepared a simple and warm birthday party for the children born in October. The big friends and little friends held hands and hearts, gathered around the cake, and sang the birthday song together. The interactive games were filled with fun and pure interaction, infecting every heart present with joy.
Liangshan, this land embraced by mountains, harbors unique natural beauty but also faces challenges in drinking water health due to geographical conditions. AXA, together with our public welfare partners, care for vulnerable groups and are committed to bringing hope and strength to children in difficult situations, lighting up their paths of growth with our love and practical actions.
On October 22-25, 2024, the Shanghai International Reinsurance Conference was convened in Lingang New Area. The conference attracted numerous renowned insurance and reinsurance companies from around the world. During the main forum session, a ceremony was held to award the first transaction of the Shanghai International Reinsurance Registration and Trading Center by AXA Tianping Shanghai Reinsurance Operation Center, which completed the first cross-border settlement of international reinsurance incoming business in August this year as the sole recipient in this category.
Member of the Party Working Committee and Deputy Director of the Administrative Committee of the Lingang New Area, Zhao Yihuai (right), presented the award to AXA Tianping’s CEO, Kevin Chor (left).
Pioneering Efforts to Accelerate the Development of the Shanghai International Reinsurance Registration and Trading Center
As the global reinsurance capacity is undergoing a “reconfiguration” period, the Shanghai International Reinsurance Registration and Trading Center is a key project in Shanghai’s efforts to build an international first-class reinsurance center, representing a concrete practice of advancing the institutional opening-up of the reinsurance industry.
Leveraging resources provided by the Shanghai International Reinsurance Registration and Trading Center, AXA Tianping Reinsurance Center successfully completed the first cross-border capital settlement of international reinsurance business in August this year. This achievement significantly enhanced the efficiency of the clearing and settlement processes, leading to a substantial improvement in operational efficiency.
It is reported that this first in-depth reinsurance transaction was conducted under the “Cross-border Vehicle Recognition” policy, in collaboration between AXA Hong Kong and AXA Tianping. It not only contributed to the integrated development of the Guangdong-Hong Kong-Macao Greater Bay Area but also marked another major achievement in cross-border financial services in Lingang New Area.
Meanwhile, the settlement of this first transaction will also help accelerate the development of the Shanghai International Reinsurance Center. On August 2, the National Financial Regulatory Administration Commission and the People’s Government of Shanghai jointly issued the “Implementation Opinions on Accelerating the Construction of the Shanghai International Reinsurance Center,” emphasizing the development of the incremental reinsurance market, strengthening reinsurance supply capacity, improving the risk management system and mechanism, and supporting banks in providing cross-border capital settlement convenience for real and compliant reinsurance business through the Shanghai Insurance Exchange platform. This aims to build Shanghai into an internationally competitive reinsurance center.
AXA Tianping will continue to follow the guidance of national policies and regulatory agencies in “five major articles,” share new development opportunities, actively contribute to the “two-way opening” and transformation and upgrading of the Chinese reinsurance market, enhance the level of the Shanghai International Financial Center, and contribute to the construction of a financial power.
This year marks the 60th anniversary of the establishment of diplomatic relations between China and France, as well as the 25th anniversary of AXA’s presence in China. We firmly believe in the development prospects of China and are committed to deepening our presence in the local market. We strive to meet the aspirations of the people for a better life and serve the development of the real economy, including small and medium-sized enterprises.
As one of the largest and most diversified foreign-funded property insurance companies in China, AXA Tianping Reinsurance Center looks forward to contributing to the innovative upgrade of the reinsurance industry on this young, innovative, efficient, and international platform of Lingang New Area. We will actively contribute to cost reduction and efficiency improvement in the insurance industry, as well as the pilot testing of reforms in Lingang New Area and the China (Shanghai) Pilot Free Trade Zone.
The news of AXA Tianping Reinsurance Center’s achievement received extensive media coverage. Here are some of the articles:
Shanghai Securities News: Shanghai International Reinsurance Center Construction Speeds Up with “Lingang Pace”
Lingang New Area International Reinsurance Functional Zone: Conference Activities | 2024 Shanghai International Reinsurance Conference Held in Lingang
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As the autumn breeze stirs gently , we are once again honored to witness a historic moment in the opening-up of the financial industry.
At the main forum of the 2024 Shanghai International Reinsurance Conference, AXA Tianping’s Shanghai Reinsurance Operations Center completed the first full-process reinsurance transaction on the Shanghai International Reinsurance Registration and Trading Center. This accomplishment not only garnered the 2024 annual typical case award of the Lingang New Area International Reinsurance Functional Zone but also received recognition as the first transaction award, which marked the full realization of registration, trading, clearing, and settlement —- another significant achievement of Lingang New Area in the realm of cross-border financial services carrying far – reaching industry impact. I am thrilled to share this milestone and honor with everyone of you, and to reflect on its profound significance for the future growth of our company.
From September 24th to 26th, I had the honor of representing AXA to attend the“2024 Well-known Chinese and Foreign Enterprises’Visit to Sichuan”event, engaging in in-depth discussions with the leaders of the Sichuan Provincial Government and various community representatives. Together, we explored AXA’s history and future ambitions in Sichuan, where we have proudly supported local development since 2006. Drawing on the Group’s expertise and strengths, AXA remains dedicated to seizing opportunities to contribute to Sichuan’s growth.
In addition to our business endeavors, we have prioritized community services in this region as well. Since 2022, we have undertaken a series of corporate philanthropy projects in Sichuan, including biog as projects as well as initiatives that aid vulnerable children in difficulty. Most recently, in October this year, we collaborated with six distribution partners including Fanhua, Heli, Juntian, Liming, Mingya, and Zhiyuan, to visit Liangshan where we have raised charitable donations to install water purification equipment to the center school of Naituo town, which embodies the collective care and commitment of AXA Tianping and its business parnters.
From setting a benchmark for the industry’s openness and reform to advancing sustainable development that benefits the society, AXA Tianping is dedicated to fostering social stability and driving economic growth, embodying corporate responsibility. Our story continues, with this recognition as a starting point. Together, we will relentlessly pursue excellence and create a brighter future.
