China Re, Asia's largest re-insurance company, will boost its international strategy through cross-border capital cooperation and merger and acquisitions, the company's chairman Li Peiyu said.

According to Li, China Re will continue to focus on the Asia market while gradually exploring the European and US market as well as emerging markets.

The company set up its New York office in June, aiming to explore the North American market.

"We will improve the proportion of international business, aiming to be a middle-sized international re-insurer within five years," Li said at the recent conference of the Federation of Afro-Asian Insurers and Re-insurers.

Meanwhile, the insurer is working on a competitive catastrophe insurance risk model, as part of its efforts to better control risks when exploring the international market.