Core Viewpoint - The role of reinsurance as a "multiplier," "regulator," and "connector" is emphasized to enhance the insurance industry's capacity to underwrite risks effectively and responsibly [1] Group 1: Multiplier Role - Reinsurance serves as a "multiplier" by utilizing global reinsurance capacity to promote "daring to insure," thereby enhancing the level of protection. The expected premium scale in China this year is projected to reach 6 trillion yuan. The global direct insurance and reinsurance markets have surpassed 7.2 trillion and 900 billion USD, respectively, with underwriting capacities approximately 9 times and over 1 time that of China [2] Group 2: Regulator Role - Reinsurance acts as a "regulator" to promote "insuring wisely" and to standardize market competition. The Chinese insurance market has been facing irrational competition issues. Data shows that from January to September this year, the comprehensive claims ratio for property insurance was 72.2%, 5.9 percentage points higher than the 10-year average, while the comprehensive expense ratio was 25.4%, the lowest in 20 years. The annualized ROE for the industry reached 10.8%, the highest in a decade. Regulatory measures have been introduced to address irrational competition in non-auto insurance sectors [3] Group 3: Connector Role - Reinsurance functions as a "connector" by leveraging global reinsurance technology to promote "insuring collaboratively" and to advance high-level openness. The industry faces new challenges from both traditional and emerging risks, such as natural disasters and cybersecurity. Reinsurance facilitates global insurance technology exchange, enhancing risk management, actuarial pricing, and data modeling capabilities. The Shanghai International Reinsurance Registration and Trading Center aims to foster domestic and international technical exchanges in risk modeling and underwriting [4]
金融监管总局财险司（再保险司）司长尹江鳌：发挥再保险“放大器”“调节器”“连接器”作用 促进保险业敢保、善保、会保
Shang Hai Zheng Quan Bao·2025-10-22 10:50