Core Insights - The Chinese reinsurance industry is rapidly developing, with 26 domestic reinsurance entities and 6 foreign institutions operating in Shanghai's international reinsurance registration and trading center, achieving a cumulative trading scale of 4.5 billion yuan and a registration scale of nearly 110 billion yuan by the end of Q3 this year [1][2]. Industry Development - The reinsurance sector is expected to play a crucial role in addressing new insurance demands arising from high-quality development in production, consumption, and trade during the 14th Five-Year Plan period [1][2]. - The next decade is identified as a critical period for filling gaps in China's reinsurance market, with a need to enhance supply capabilities, risk pricing, and market leadership [4]. Risk Landscape - The global reinsurance market faces complex risks, with natural disasters causing insurance losses exceeding $100 billion for five consecutive years, and geopolitical risks increasing exposure in areas such as political violence and cybersecurity [3][4]. - China's reinsurance market currently holds only 4% of the global share, ranking seventh worldwide, indicating significant room for growth [3]. Emerging Opportunities - The demand for reinsurance is expected to rise as Chinese enterprises expand overseas, particularly in sectors like new energy vehicles, which saw exports surpassing 1.28 million units in 2024 [5][6]. - The insurance industry is anticipated to invest more resources into managing risks associated with new energy vehicles, enhancing operational management capabilities [6]. Challenges in Expansion - Challenges faced by insurers venturing abroad include data discrepancies, complex regulatory environments, high service network costs, and the need for specialized risk management [7]. - To address these challenges, initiatives such as building industry-level data platforms, sharing global networks, innovating reinsurance solutions, and promoting standardization are being pursued [7].
险企加速“出海”，中国再保险业迎来十年补缺口时期