Shanghai makes progress in building global insurance hub
Shanghai International Reinsurance Exchange in Shanghai's Lin-gang Special Area has made progress in building the city into a global insurance hub, with a more efficient, standardized, transparent, and regulated reinsurance trading ecosystem rapidly taking shape.
As of the end of September, the exchange has attracted 26 insurance institutions, with six foreign entities having established trading seats. It has granted trading permissions to 128 institutions, including 94 domestic and 34 foreign entities, spanning 14 countries and regions worldwide. From January to September, the exchange reported a trading premium of more than 4.5 billion yuan ($631 million).
Chang Ming, assistant general manager of the Shanghai International Reinsurance Exchange, said that the exchange, by establishing digital channels for secure inter-company information transmission and creating an information exchange standard converter, is committed to leading the global shift towards digitalization and standardization in the Chinese market.
Approved by the National Financial Regulatory Administration, the exchange has issued eight business rules and strives to align regulations, management and standards with international rules. Additionally, it has launched a unified code database to identify global reinsurance trading entities, covering 845 domestic and 2,421 foreign institutions.
Mitsui Sumitomo Insurance, a co-builder and one of the first users of the exchange, has been actively involved in the development of the Shanghai International Reinsurance Exchange. By the end of August 2025, the company had registered premiums of approximately 635 million yuan through the exchange, accounting for 90 percent of its total assumed premiums. It had also registered claims of about 286 million yuan, representing 97 percent of its total assumed claims.
Zheng Yongqiang, deputy general manager of Mitsui Sumitomo Insurance (China) Ltd, expressed optimism about the exchange's potential. "We hope the exchange will bring together more outstanding domestic and international institutions, leverage its digital capabilities and industry data to innovate efficient, secure, and trustworthy reinsurance operations, and establish Lin-gang as an influential international reinsurance trading hub."
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