The parent's proposed CNY15bn (US$2.2bn) state injection, part of a broader CNY70bn package, underpins the change, though S&P affirmed the reinsurer's 'A-' ratings.
CPPIC and a Lloyd's syndicate stand behind a single policy the broker calls a world first, spanning departure, quarantine and continuing annual mortality protection.
The partners say the policy is Australia's first pay-per-kilometre rideshare cover, pairing a fixed private-use premium with one linked to distance driven on Uber.
Chan brings more than 35 years of industry experience and previously served as chairman of the Hong Kong Confederation of Insurance Brokers and on the Insurance Authority's transition working group.
