Core Insights - The 2025 Shanghai International Reinsurance Conference concluded, showcasing multiple industry technological innovation platforms and facilitating discussions on the development of the reinsurance industry and global risk governance [1] Group 1: Reinsurance Functionality - Reinsurance acts as an "amplifier," "regulator," and "connector" in the insurance industry, promoting rational competition and effective risk management [2] - In the first nine months of 2025, the insurance industry's premium income reached 5.2 trillion yuan, a year-on-year increase of 8.5%, while claims amounted to 1.9 trillion yuan, up 7.4% [2] Group 2: Global Disaster Risk Management - In 2024, global natural disaster losses exceeded $320 billion, significantly higher than the average over the past 30 years, with reinsurance companies playing a crucial role in risk dispersion [3] - Catastrophe bonds have become an essential tool for risk dispersion, with total issuance reaching $7.1 billion in Q1 2025, marking a historical high [3] Group 3: Regulatory Developments - The Financial Regulatory Bureau issued a notice supporting domestic insurance companies in issuing "sidecar" insurance-linked securities in Hong Kong, enhancing catastrophe risk management tools [4] - The "sidecar" securities allow insurance companies to transfer risks to specially established Special Purpose Insurance Companies (SPI), which raise funds through securities issuance [4] Group 4: Research and Innovation - The reinsurance industry is driven by research and innovation, with a focus on climate risk management due to the increasing frequency of extreme weather events [5][6] - China Re launched a climate change risk insight platform, which integrates international modeling methods and local disaster characteristics to support climate risk management [6] Group 5: Market Opportunities and Internationalization - China's reinsurance market accounts for only 4% of the global market, indicating a need for enhanced pricing and market leadership capabilities [8] - The Shanghai International Reinsurance Center has attracted 26 insurance institutions and 128 trading permissions, indicating a growing reinsurance ecosystem [8][9] Group 6: Strategic Recommendations - Recommendations for enhancing Shanghai's reinsurance market include creating a favorable regulatory environment, improving market systems, and developing a talent pool for internationalization [10][11]

Core Insights - The 2025 Shanghai International Reinsurance Conference highlighted industry innovations and discussions on global risk governance and reinsurance development [1] Group 1: Reinsurance Functionality - Reinsurance acts as an "amplifier," "regulator," and "connector" in the insurance industry, facilitating risk dispersion and enhancing market stability [2] - In the first nine months of 2025, the insurance industry in China reported premium income of 5.2 trillion yuan, a year-on-year increase of 8.5%, and claims of 1.9 trillion yuan, up 7.4% [2] Group 2: Catastrophe Bonds and Risk Management - The global natural disaster losses in 2024 exceeded $320 billion, significantly higher than the average over the past 30 years, with reinsurance companies playing a crucial role in risk dispersion [3] - Catastrophe bonds have seen substantial growth, with a total issuance of $7.1 billion in Q1 2025, marking a historical high [3] Group 3: Regulatory Developments - The Financial Regulatory Authority issued a notice supporting domestic insurance companies in issuing "sidecar" insurance-linked securities in Hong Kong, enhancing catastrophe risk management tools [4] Group 4: Climate Risk Management - The reinsurance industry is increasingly focused on climate risk management, with the establishment of the Climate Vision platform by China Re, aimed at providing insights into climate-related financial risks [5][6] - The platform integrates international modeling methods and local disaster characteristics to support regulatory standards and financial stability [6] Group 5: Internationalization and Market Development - China's reinsurance market accounts for only 4% of the global share, indicating a need for improved risk pricing and market leadership [8] - The Shanghai International Reinsurance Center has attracted 26 insurance institutions and 128 trading permissions, indicating a growing ecosystem [8] Group 6: Strategic Recommendations - Recommendations for enhancing Shanghai's reinsurance market include creating a favorable regulatory environment, improving market infrastructure, and developing a talent pool for international operations [10][11]

尹江鳌表示，随着"十五五"时期生产、消费、贸易等领域迈向高质量发展，相关保险需求对供给能 力将提出新的要求。再保险能够借助全球承保能力，实现局部地区不敢保、难以保的风险在全球范围内 分散。同时，面对非理性竞争，再保险也能运用再保机制促进"善保"，规范市场竞争。 "再保险不仅仅是风险转移工具，更是市场定价基准和风险传导信号。当直保市场出现不规范经营 行为时，再保险通过调整分保条件和价格，将后端信号传导到前端，促进我国保险业的规范竞争。"尹 江鳌说。 10月21日至24日，一年一度聚焦再保险行业未来发展的国际盛会在上海临港举办，此次会议以"同 频同行 对话全球"为主题，吸引了28个国家和地区的400余家机构参与。这场会议不仅是上海国际再保 险中心建设成果的集中展示，也是全球再保险领域的思想碰撞盛宴。与会专家一致认为，当前，再保险 在服务实体经济运行、稳定行业发展中的作用日益凸显。未来，再保险既要服务好中国市场的"本土特 色"，更要具备链接全球的视野与能力，在双向互动中提升中国保险业的全球韧性。 再保险国际中心建设提速 金融监管总局财产险司司长尹江鳌在发言中表示，在保险业高质量发展中，再保险应充分发挥"放 大器"" ...