HKUST and TPRe Sign MoU on Research and Business Collaborations
The Hong Kong University of Science and Technology (HKUST) and Taiping Reinsurance Co., Ltd. (TPRe) signed a Memorandum of Understanding (MoU) on March 4, 2025, to jointly develop and transfer new technologies to solve problems faced by the insurance industry and to gradually establish a long-term partnership. The signing ceremony was held at the China Taiping Finance Center.
Prof. GUO Yike, HKUST Provost, and Mr. ZHAO Feng, Deputy General Manager of China Taiping Insurance Group Company Limited (China Taiping), witnessed the ceremony. Prof. ZHANG Limin, Head of the Department of Civil and Environmental Engineering at HKUST, and Mr. YU Xiaodong, Chief Executive Officer of TPRe, signed the MoU on behalf of the two parties. Mr. Stephen WAI, Director of Business Development at the Logistics and Supply Chain MultiTech R&D Center (LSCM), and Dr. David LIU, Chief Executive Officer and Vice Chairman of Stellerus Tech, also attended the ceremony.
Mr. Zhao first congratulated the approval of the two parties’ joint R&D project “A Hong Kong Flood Catastrophe Model for the Insurance Industry” under the Partnership Research Program of the Innovation and Technology Fund, which is part of the scope of collaboration outlined in the MoU. He introduced China Taiping’s historical development and operational characteristics and highlighted that TPRe is at the forefront of China Taiping’s global operations. He proposed leveraging the MoU to deepen industry-academia-research integration and explore practical cooperation in areas including education/training, low-altitude economy, risk mitigation, and big data analytics, thereby enhancing disaster risk management capabilities in the Greater Bay Area and supporting Hong Kong’s development as an international risk management center.
Prof. Guo expressed gratitude for TPRe’s support in scientific research collaborations with HKUST and introduced HKUST’s history and research development strategies. He acknowledged that the MoU laid a solid foundation for cooperation and expressed hope to expand collaboration in areas such as artificial intelligence, autonomous vehicles, and technology-empowered insurance to jointly promote Hong Kong’s socioeconomic development and contribute to the development of urban resilience.
The HKUST delegation also visited the China Taiping Corporate Heritage Center. Attendees included Dr. David LEUNG, Head (Smart System and Project Development) of HKUST’s Office of Knowledge Transfer, and Prof. HE Jian, Research Assistant Professor of HKUST’s Department of Civil and Environmental Engineering. Also attending were Mr. Jason HO, Deputy General Manager of TPRe, Mr. Jeffery LI, General Manager of Business Management Department of TPRe, Mr. Michael FUNG, General Manager of Analytics Center of TPRe, and Ms. BAI Yunqi, Deputy General Manager of Business Management Department of TPRe.
About TPRe
TPRe was incorporated in Hong Kong in September 1980 as a state-owned composite professional reinsurer, undertakes the non-life and life reinsurance business all over the world. With head office in Hong Kong, TPRe also set up operating platforms in the region and overseas, including subsidiaries in Beijing and London, a branch in Labuan, Malaysia, as well as representative offices in Japan and Macau. With the solid backing of its listed parent company, China Taiping Insurance Holdings Company Limited, and its strategy shareholder, Ageas Insurance International NV, TPRe is highly respected for its prudent business strategy and strong financial strength. For consecutive years, TPRe has achieved “A” (strong/excellent) financial strength ratings from renowned international rating agencies, including S&P, AM Best and Fitch.
About HKUST
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk) is a world-class university that excels in driving innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 3rd in the Times Higher Education’s Young University Rankings 2024, 19th worldwide and No.1 in Hong Kong in Times Higher Education’s Impact Rankings. Twelve of HKUST’s subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2024, with “Data Science and Artificial Intelligence” being ranked first in Hong Kong and 10th in the world. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “internationally excellent” or “world leading” in the latest Research Assessment Exercise 2020 of Hong Kong’s University Grants Committee. As of November 2024, HKUST members have founded over 1,800 active start-ups, including 10 unicorns and 16 exits (IPO or M&A).
About LSCM
Funded by the Hong Kong SAR Government’s Innovation and Technology Fund and established in 2006, LSCM focuses on developing technologies to enhance logistics and supply chain industries. It facilitates technology adoption across various sectors in Hong Kong and mainland China, operating in collaboration with the University of Hong Kong, Chinese University of Hong Kong, and HKUST.
About Stellerus Tech
Stellerus Tech is a start-up company incubated by HKUST in late 2023, specializing in leveraging satellite remote sensing and artificial intelligence to deliver climate risk-related solutions.
