CHINT, Munich Re Group & PICC Sign a Strategic Cooperation Agreement

31 ,07 ,2018

On the afternoon of May 28, CHINT Solar, Munich Re and People’s Insurance Company of china (PICC) signed strategic cooperate agreement in Shanghai SNEC Exhibition. Dr. Lu Chuan (president of CHINT Solar), Mrs. Huang Haiyan (Vice-President of CHINT Solar), Dr. Ronald Sastrawan(head of global photovoltaic risk at Munich Re Group), Mr.Julius Abe(Head of global photovoltaic risk at Munich Re Group), Mr. Xuede(Deputy general of Zhengjiang branch of PICC) and Mr. Gao Junli(General manager of credit guarantee insurance division in Zhengjiang branch) attended the signing ceremony. 

According to this strategy cooperate agreement, PICC will provide insurance support services with quality assurance for 10-12 years and performance assurance for 25 years and Munich will provide reinsurance services for the photovoltaic products which produced and delivered to domestic and overseas markets by CHINT solar in 2018. This will not only provide more adequate third part protection for CHINT’s investors and financing institutions that use CHINT solar’s components for large scale,but also set a classic example for the new energy industry insurance business model. 

Since the design of the world's first "25-year Long Term Quality and Power Assurance Insurance for Solar Photovoltaic Components " in 2009, Munich Re has always been prudent in the risk assessment and will only cover the best quality components in the market. Dr. Sasitelawan said, ’CHINT solar is the only photovoltaic company in the world that is continuously to be insured, and has no claims records in the past nine years, These measures not only reflect the long-term close cooperation between CHINT solar and Munich, but also demonstrate that CHINT is a sincere company that pursues outstanding quality, serves customers with sincerity, and regards product quality as its lifeblood. ’This tripartite cooperation will integrate new business models and strategic growth points into the global vertical integrated economy.