根据《临港新片区2026年制度创新和优化营商环境工作计划》（下称《工作计划》），2026年，新片区 在制度创新方面重点推进十项任务，其中之一就是建设离岸金融（经济）功能区。 重点拓展离岸贸易、非居民并购、财资中心、离岸租赁、再保险五大业务场景 2026年，临港新片区将建设离岸金融（经济）功能区。 1月7日召开的临港新片区2026年制度创新暨优化营商环境大会上，上海市委常委、临港新片区党工委书 记、管委会主任陈金山表示，新片区要更大力度推动金融开放创新。要巩固好已有的金融开放创新优 势，重点针对新兴领域开展更大力度探索。进一步提升跨境投融资便利化水平，精准助力"走出去"企业 拓展全球市场。推动离岸金融更大力度开放，重点拓展离岸贸易、非居民并购、财资中心、离岸租赁、 再保险五大业务场景。 陈金山表示，新片区是国家推动制度型开放的最前沿，我们最大的优势在于制度创新，以制度创新的理 念和方法帮助企业解决问题，降低制度性交易成本，吸引更多企业来新片区投资兴业，吸引更多年轻人 来新片区创业就业。 更大力度推动金融开放创新的同时，新片区还将进一步推动跨境数据清单扩面提质、持续深化"数字综 保区"建设、落实"投资于人"的理念 ...

原银保监会副主席梁涛今日（12月26日）在"启航·2025金融年会"上表示，要大力发展再保险。强大的 再保险市场是保障经济金融安全的重要支撑，可以将各类巨灾风险、新型风险以及复杂的风险进行全球 化转移和分散。所以要借助于上海国际再保险中心建设，吸引全球保险再保险机构基金、人才等资源聚 集，打造全球风险的集散地和定价中心，通过引入国际先进经验和产品理念、服务模式，带动提升国内 保险行业整体服务水平。（智通财经 高萍） ...

在"十五五"规划谋篇布局逐步展开之时，中央经济工作会议的召开为金融业如何开局指明了方向。 作为兼具经济属性与社会功能的金融组成部分，保险业既是实体经济的风险"防护网"，也是民生保障的 重要"压舱石"。落实中央经济工作会议精神，锚定战略方向成为当前保险业首要任务。 从行业自身发展看，保险业正处于从规模扩张向价值创造的深度转型期，这一阶段的关键命题，是 要找准定位破解结构性难题、夯实可持续发展根基。这不仅是行业自身高质量发展的需要，更直接决定 未来五年行业能否肩负起时代赋予的使命。 精准锚定战略方位，是保险业"十五五"开好局的重要基础。中央经济工作会议明确提出，引导金融 机构加力支持扩大内需、科技创新、中小微企业等重点领域。这就要求行业彻底摒弃"业绩为王"执念， 将经营发展深度对接国家战略导向。实体经济赋能方面，响应会议"因地制宜发展新质生产力""坚持'双 碳'引领，推动全面绿色转型"的号召，聚焦科技自立自强、绿色低碳等核心领域，加大科技保险、绿色 责任保险等特色产品研发。发挥保险资金"耐心资本"优势，为实体经济注入金融活水。民生保障领域， 紧扣会议"坚持民生为大，努力为人民群众多办实事"的部署，精准填补基本社保 ...

香港大埔宏福苑大火，牵动了无数人的心。11月30日，北京商报记者了解到，当前，保险公司正在多渠道联系客户，全速推进理赔工作。同时，多家机构通 过捐款、组织义工队伍参与救援、启动应急预案等多种方式支持救灾。据了解，香港大埔火灾涉事小区曾投保房屋保险，含大厦财产险、公众责任险、现金 保险和个人意外险。大厦及公共地方财产保险保额为20亿港元。 这场五级大火，也向保险行业抛出了一连串关乎核心机制的深层叩问：20亿港元保额的大厦财产险，叠加公众责任险、家居保险等多重险种保障，如果出现 巨额赔付，承保机构的风险承载体系能否从容应对？保险公司背后的再保险"安全网"究竟由谁搭建、如何运作？ 至少三家机构提供再保保障 太平香港此前也公开表示，事故后已启动应急机制，将依保险合约秉持"能赔快赔、应赔尽赔、合理预赔"原则，做好理赔与客户服务，助力受影响居民渡过 难关。 那么，如果此次事故触发了数十亿元的赔付，是否会导致保险公司"赔穿"？ 一般而言，保险公司会通过再保险制度进行风险分散。再保险亦称"分保"，是保险人在原保险合同的基础上，通过签订分保合同，将其所承保的部分风险和 责任向其他保险人进行保险的行为。香港保监局发布的《再保险指 ...

保险业中高层都关注的公众号 中国再保险(集团)股份有限公司2026校园招聘 中国再保 NEEBEEEEEE NEEBEEEEEEEE NEEBEESSEERE 【日期最新版 九州网 - 254924884 中国再保险 (集团) 股份有限公司(简称"中国 再保")是中国唯一的国有再保险集团,再保险主渠 道地位稳固,再保险保费规模居亚洲第一、世界第 八。中国再保由中华人民共和国财政部和中央汇金投 资有限责任公司发起设立,注册资本人民币 42479808085元,其中财政部持股11.45%,中央 汇金投资有限责任公司持股71.56%。 世界第八 如 > 第 公司主业突出、结构完善,拥有完整的保险产业 链,经营发展持续稳健。目前已形成以再保险为核 心,再保与直保、国内与国际、承保与投资互为补 充、有机互动的经营体系,积极打造以"再保+直保+ 资管+经纪"为主体、以"数科+巨灾"为两翼的新发 展格局。 中国再保在11个国家/地区设有境 外机构,是海外业务网络拓展最广的 招聘済価程 | Do 笔试 简历筛选 网上报名 ": 录用签约 面试甄选 网 时时 本次招聘报名截止时间为2025年12月10日，请及时 投递。 本次招 ...

Core Insights - Southbound funds increased their holdings in China People's Insurance Group by 6.452 million shares on November 18, 2025, marking a 0.24% increase in total shares held [1][2] - Over the past five trading days, there were three days of net increases, totaling 10.745 million shares, while in the last twenty trading days, there were eleven days of net reductions, totaling 13.60 million shares [1] - As of now, southbound funds hold 2.654 billion shares of China People's Insurance Group, accounting for 30.4% of the company's total issued ordinary shares [1] Shareholding Summary - On November 18, 2025, total shares held reached 2.654 billion, with a change of 6.452 million shares [2] - On November 17, 2025, total shares held were 2.647 billion, with a change of 0.964 million shares [2] - On November 14, 2025, total shares held were 2.646 billion, with a decrease of 1.946 million shares [2] - On November 13, 2025, total shares held were 2.648 billion, with an increase of 5.877 million shares [2] - On November 12, 2025, total shares held were 2.642 billion, with a decrease of 0.602 million shares [2] Company Overview - China People's Insurance Group is a holding company primarily engaged in providing insurance products, including property insurance, health insurance, life insurance, reinsurance, Hong Kong insurance, and pension insurance [2] - The property insurance segment includes products for both corporate and individual clients, such as motor vehicle insurance, agricultural insurance, property insurance, and liability insurance [2] - The health insurance segment focuses on health and medical insurance products, while the life insurance segment includes various life insurance products such as participating, whole life, annuity, and universal life insurance [2] - The Hong Kong insurance business encompasses property insurance operations in Hong Kong, and the pension insurance segment includes corporate annuities and occupational annuities [2]

Core Viewpoint - The establishment of the Shanghai International Reinsurance Registration and Trading Center is a significant step towards enhancing Shanghai's status as a global insurance hub and international financial center [1][2]. Group 1: Development of the Reinsurance Center - The Shanghai International Reinsurance Registration and Trading Center has begun to establish a reinsurance market system, aiming to create a more efficient, standardized, transparent, and regulated reinsurance trading ecosystem [1]. - The center is positioned as a public infrastructure and backend service, facilitating the digital and standardized transformation of the Chinese market on a global scale [1]. Group 2: Participation and Transactions - As of September 2025, 26 insurance institutions have gathered at the center, with 6 foreign institutions establishing trading seats, covering regions such as the UK, Barbados, Congo (Kinshasa), Hong Kong, and Taiwan [2]. - The center has granted trading permissions to 128 institutions, including 94 domestic and 34 foreign entities, spanning 14 countries and regions, thereby forming a preliminary complete reinsurance industry chain [2]. - From January to September 2025, the center recorded a trading premium of 4.511 billion yuan and a ceded business premium of 96.539 billion yuan, with an incoming business premium of 11.271 billion yuan [2]. Group 3: Regulatory Framework and Industry Collaboration - The center has developed and published 8 business rules in two batches, aligning regulations, management, and standards with international norms, with approval from the financial regulatory authority [2]. - A unified code library for identifying global reinsurance trading entities has been launched, covering 845 domestic institutions and 2,421 foreign institutions [2]. - A joint initiative has been issued by 29 domestic and foreign institutions, including China Pacific Insurance, China Re, and Ping An Property & Casualty, to utilize the infrastructure services and standards of the Shanghai International Reinsurance Registration and Trading Center [2]. Group 4: Future Outlook - The Shanghai insurance industry aims to leverage reinsurance as an "amplifier," "regulator," and "connector," striving to build a new ecosystem characterized by "daring to insure," "insuring wisely," and "insuring effectively" [3]. - The industry is committed to advancing the construction of the Shanghai International Reinsurance Center to elevate Shanghai's international financial center status and contribute to the development of a strong financial nation [3].

Financial Data and Key Metrics Changes - The company reported a record after-tax operating income of over $1 billion and net income exceeding $1.3 billion, both up 37% year over year [5] - After-tax operating earnings per share reached $2.77, representing an 18.5% annualized operating return on average common equity [5] - Year-to-date book value per share growth was 17.3%, with a quarterly consolidated combined ratio of 79.8% reflecting excellent underwriting performance [5][15] Business Line Data and Key Metrics Changes - The property and casualty insurance group reported underwriting income of $129 million, up 8% year over year, with a combined ratio of 93.4% [7] - The reinsurance segment achieved a record underwriting income of $482 million, with a combined ratio of 76.1%, showing significant improvement [9][17] - The mortgage segment generated $260 million of underwriting income for the quarter, maintaining a strong performance despite modest mortgage originations [11][18] Market Data and Key Metrics Changes - Net return premium in North America for liability occurrence grew by 17%, while property and short-tail book increased by 15% [8] - International premium volume remained essentially flat, indicating a stable but challenging market environment [8] - The company noted increasing competition in the market, leading to a focus on underwriting discipline and risk-based pricing [6] Company Strategy and Development Direction - The company aims to maximize returns for shareholders over the long term by deploying capital into attractive underwriting opportunities [6][13] - The strategy includes prioritizing profitable growth while maintaining flexibility across insurance, reinsurance, and mortgage segments [7] - The company is actively looking to invest in businesses that generate superior risk-adjusted returns, with a focus on the middle market [9][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a transitioning market, emphasizing the importance of underwriting discipline and data analytics tools [6][68] - The outlook for the insurance segment remains bullish, with expectations for growth in casualty lines despite some headwinds in professional lines [25][40] - Management acknowledged the challenges posed by a competitive environment but remains optimistic about the company's positioning and capital strength [13][20] Other Important Information - The company repurchased $732 million of shares in the quarter, reflecting a strong capital position and commitment to returning capital to shareholders [20] - The delinquency rate for the mortgage insurance business increased to 2.04%, aligning with seasonal expectations [18] - The company maintains a conservative investment portfolio, with net investment income reaching a quarterly record of $408 million [11][12] Q&A Session Summary Question: Future Buyback Levels - Management indicated that share buybacks will likely be the preferred method of capital return in the short term, given strong earnings and limited growth opportunities [23][24] Question: Insurance Premium Growth Outlook - Management remains bullish on insurance growth, particularly in casualty lines, despite some non-renewals and market softening [25][26] Question: Impact of Hurricane on Exposure - Management stated it is too early to assess potential exposure from a hurricane affecting the Caribbean [28][30] Question: Reinsurance Growth Normalization - Management estimated that normalized growth in reinsurance, absent one-off items, might have been around a decrease of 3% to 4% [34][35] Question: MGA Marketplace Growth - Management expressed skepticism about the long-term sustainability of the MGA model, citing concerns over incentive alignment and information delays [82]

Core Insights - The insurance industry in China has shown significant development since the 14th Five-Year Plan, with premiums reaching 5.2 trillion yuan from January to September 2025, a year-on-year increase of 8.5% [1] - The global direct insurance and reinsurance markets have surpassed 7.2 trillion and 900 billion USD respectively, indicating a substantial capacity for risk management [1][2] Group 1: Reinsurance as Amplifier and Regulator - Reinsurance serves as an "amplifier" to utilize global underwriting capacity, allowing for the dispersion of risks that are difficult to insure locally [1] - It acts as a "regulator" by promoting rational competition within the insurance market, especially in response to irregular practices in the direct insurance market [2] Group 2: Market Performance and Trends - The comprehensive loss ratio for the property insurance sector was 72.2% from January to September 2025, which is 5.9 percentage points higher than the average over the past decade [1] - The comprehensive expense ratio reached 25.4%, marking the lowest level in 20 years, while the annualized return on equity (ROE) was 10.8%, the highest in nearly a decade [1] Group 3: Technological and Market Development - The Shanghai International Reinsurance Registration and Trading Center aims to enhance the connection between domestic and global insurance markets, fostering a better environment for institutional participation [1][2] - Emphasis is placed on the importance of technology in reinsurance, including risk management, actuarial pricing, and data modeling, to improve the professional level of China's insurance industry [2]

Core Insights - The article discusses various studies related to the insurance industry, focusing on climate risks, employer insurance, reinsurance, and directors' and officers' liability insurance, highlighting their impacts on risk management and corporate performance. Group 1: Climate Risk - Climate risks significantly increase claim ratios for property-casualty insurers in China, with both short-term and long-term risks contributing to this effect [6][7] - There is no substantial evidence that climate risks lead insurers to enhance their risk management practices, such as increasing reinsurance ratios or adjusting geographic business distribution, resulting in a notable negative impact on performance [6][7] - The adverse effects of climate risks are more pronounced in smaller insurers, those with lower reinsurance coverage, or those with a high concentration of business in specific regions [6][7] Group 2: Employer Insurance - Companies that implement supplementary pension insurance programs (SPIPs) and invest heavily in them exhibit significantly lower operational risks compared to those that do not or invest less [9][10] - The risk-reducing effect of SPIPs is more significant in firms with higher-educated employees, primarily through improved employee retention [9][10] - The study highlights the importance of SPIPs not only as a form of retirement insurance but also as a crucial factor in reducing operational risks [9][10] Group 3: Reinsurance - The duration of the insurer-reinsurer relationship is positively correlated with underwriting performance, with insurers realizing benefits from these relationships only after approximately three years [8][17] - Long-term reinsurance relationships are essential for underwriting, suggesting strategies for sustainable development in the insurance sector [8][17] - Reinsurance is associated with reduced absolute values of actual and target leverage deviations, indicating that it helps insurers align their actual leverage with target levels [16][17] Group 4: Directors' and Officers' Liability Insurance - Companies with directors' and officers' liability insurance (D&O insurance) are more likely to capitalize R&D expenditures, with management's risk appetite being a key factor in this process [12][13] - The effect of D&O insurance on R&D capitalization is stronger under high financing and performance pressures but weaker when effective monitoring mechanisms are in place [12][13] - D&O insurance significantly enhances corporate social responsibility (CSR) performance in state-owned enterprises, functioning as a policy-embedded accountability mechanism [13][14]