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Location：CNOOC What We DoFinancial ServicesCNOOC Insurance Ltd |
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CNOOC Insurance Limited
CNOOC Insurance Limited (CNOOC Insurance) was established in Hong Kong on August 23, 2000. In February2002, it secured approval from the China Insurance Regulatory Commission to start insurance activities on May1, 2002. Wholly owned by CNOOC, CNOOC Insurance provides direct insurance or re-insurance to its parent company or affiliated companies. Its business covers ship insurance, cargo transportation insurance, fire and natural disaster insurance, property loss insurance, ship liability insurance and general liability insurance.
At the end of 2009, CNOOC Insurance realized paid-in capital of HK$1.2 billion. It ranked 15 among 172 non long-term insurance companies in Hong Kong. In 2009, CNOOC Insurance maintained 100% participation in upstream property insurance and actively developed mid and downstream property insurance business and overseas upstream insurance business.
In 2010, CNOOC Insurance made a full play in controlling and diversifying risks, balancing and reducing insurance costs for the Group. The total annual value of the property insured by CNOOC Insurance amounted to USD31.3 billion.
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