One of China’s largest insurance groups, China Pacific Insurance (Group) Co is outlining business opportunities in the Belt and Road Initiative, according to the group's president He Qing.
So far, CPIC has provided a package of insurance coverage and risk management services for a number of major overseas projects and companies like China-Europe freight trains, overseas assets by China Guangdong Nuclear Power Company and China Oil & Foodstuffs Corporation, reported China Daily.
This year, the insurer also set up a specialised team to serve business related to the Belt and Road Initiative.
Quing said: "Insurers have a big role to play in taking part in the great initiative, such as providing a package of insurance coverage and risk management consulting for Chinese enterprises' global expansion, providing financing for them via equity and debt investment or initiating an industrial fund or infrastructure fund."
According to chairman of China Pacific Property Insurance, Gu Yue, there is an urgent need to set up a risk evaluation and early warning system for Chinese enterprises taking part in the initiative.