Construction All Risks Insurance for Laos 230kV Nabong-Nam Ngum 1-Hinheup Transmission Line Project
In March 2017, Shanghai Asian Insurance Brokers Co. Ltd. has won the bidding in serving as the insurance broker for Laos 230kV Nabong-Nam Ngum 1-Hinheup Transmission Line Project, and has been providing professional insurance brokering services in arranging the Construction All Risks Insurance for the Project. The insurance policy of the Project has taken into effect on March 20, 2017. It is the first insurance project that SAIB serves for the China-led “Belt and Road” strategy and it is a new starting point that SAIB steps into overseas construction risk insurance, and it is also an important achievement in SAIB’s internationalization process as well.
The Laos 230kV Nabong-Nam Ngum 1-Hinheup Transmission Line Project is a significant construction project which was signed in 2014 under the witness of Mr. Xi Jinping, the Chairman of the People’s Republic of China and Mr. Choummaly Sayasone, the President of the Lao People’s Democratic Republic. The project includes the construction and expansion of the transformer substation as well as the establishment of around 90 km transmission lines. Once the Project completed, the power supply system of Vientiane, the capital of Laos, will be improved effectively, the power transmission level will be enhanced, and the local economic and social development will also be promoted. The insurance arrangement made and served by SAIB will provide the Project with sufficient and persistent guarantee.
SAIB’s success in the bidding of arranging the Construction All Risks Insurance for Laos 230kV Nabong-Nam Ngum 1-Hinheup Transmission Line Project shows the excellent professional technology and the proactive service consciousness of the Company. With the in-depth implementation of the “Belt and Road” strategy, SAIB will continuously exert its professional advantage to provide insurance brokering services in the aspects of risk management, insurance and re-insurance arrangement, and loss evaluation for those significant projects along with the “Belt and Road” strategy, and provide strong support to accelerate the implementation of that Strategy.