Core Viewpoint - The construction of the Shanghai International Reinsurance Center is progressing rapidly, aiming to enhance Shanghai's status as a global financial hub and improve its competitiveness in the international financial market [1][2]. Group 1: Development Progress - As of September 2025, 26 insurance institutions have gathered at the reinsurance registration trading center, with 6 foreign institutions establishing trading seats, covering countries such as the UK, Barbados, and the Democratic Republic of the Congo [3]. - The trading center recorded a total premium of 4.511 billion yuan from January to September 2025, with ceded business premiums at 96.539 billion yuan and assumed business premiums at 11.271 billion yuan [3]. - The China People's Insurance Company has centralized its reinsurance operations in Shanghai, completing research on new risk transfer products and aiming to issue the first domestic catastrophe bonds [3]. Group 2: Digital Infrastructure - The establishment of the Shanghai International Reinsurance Registration Trading Center is a significant step towards creating a high-level open financial system, facilitating a more efficient, standardized, and transparent reinsurance trading ecosystem [5]. - The center has developed a digital channel for secure information transmission and standard conversion, addressing long-standing issues in inter-company operations and reducing information exchange costs [5]. - A unified code library for identifying global reinsurance trading entities has been launched, covering 845 domestic and 2,421 foreign institutions [6]. Group 3: International Strategy - The Shanghai International Reinsurance Center supports China's "going global" strategy, enhancing the country's ability to allocate global resources and protect overseas interests [7]. - Ping An Property & Casualty has established a network covering 206 countries, offering various insurance products tailored to meet diverse risk protection needs for overseas operations [7]. - China Life Property & Casualty has signed strategic cooperation agreements with key insurance companies in countries involved in the Belt and Road Initiative, providing insurance support for over 200 overseas projects annually [7]. Group 4: Future Outlook - The Shanghai insurance industry aims to leverage reinsurance as a "multiplier," "regulator," and "connector," fostering a new ecosystem that promotes effective risk management and enhances Shanghai's international financial center status [8].

Core Insights - The construction of the Shanghai International Reinsurance Center is a significant step towards enhancing the international financial center's competitiveness and influence, with a focus on creating a global insurance hub [1][9][10] Group 1: Market Development - As of September 2025, 26 insurance institutions have gathered at the reinsurance registration trading center, with 6 foreign institutions establishing trading seats, covering countries such as the UK, Barbados, and the Democratic Republic of the Congo [3] - The trading center has recorded a total premium of 4.511 billion yuan in the first nine months of 2025, with ceded business premiums at 96.539 billion yuan and assumed business premiums at 11.271 billion yuan [3] - China Pacific Property Insurance has registered ceded premiums of 35.249 billion yuan and assumed premiums of 2.604 billion yuan at the center as of October 27, 2025 [4] Group 2: Digital Infrastructure - The reinsurance registration trading center aims to create a more efficient, standardized, transparent, and regulated reinsurance trading ecosystem, facilitating digital transformation in the market [6][7] - The center has developed a digital channel for secure information transmission and a standard converter for information exchange, addressing long-standing pain points in inter-institutional operations [6][7] - A unified code library for identifying global reinsurance trading entities has been launched, covering 845 domestic institutions and 2,421 foreign institutions [7] Group 3: International Collaboration - The Shanghai International Reinsurance Center supports China's "going global" strategy, enhancing overseas service capabilities and risk protection for Chinese enterprises [9] - China Life Property Insurance has signed strategic cooperation agreements with key insurance companies along the Belt and Road Initiative, providing insurance support for over 200 overseas projects annually [9] - Ping An Property & Casualty has established a network covering 206 countries, offering tailored insurance products to meet diverse risk protection needs for overseas operations [9] Group 4: Future Outlook - The insurance industry aims to leverage reinsurance as an amplifier, regulator, and connector to build a new ecosystem that promotes risk management and enhances the Shanghai International Financial Center's status [10]