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The Shanghai International Reinsurance Registration and Trading Center offers a comprehensive, one-stop platform for both domestic and international reinsurance companies, streamlining the entire process from inquiries and negotiations to issuance and settlements.
Situated in the Lingang Special Area within the Shanghai Free Trade Zone, a hub for pioneering economic and trade policies, the center’s trading hall features over one hundred open trading desks where reinsurance firms can connect with potential partners. Nearby private rooms are available for discrete negotiations, while electronic screens display real-time cross-border transaction data, facilitating transparency and efficiency.
Previously, Chinese insurers conducted reinsurance deals through global centers in London, Bermuda, Singapore, and other locations. Now, this domestic platform provides an alternative, significantly boosting local reinsurance activities.
By standardizing bill templates, developing a digital trading platform, and implementing uniform trading rules, the center has achieved faster transaction confirmations, automating the identification process. According to a senior manager, the time to confirm a single deal has dropped from three days to just a few hours, greatly enhancing operational efficiency and laying the groundwork for China’s reinsurance market to grow on the international stage.
The platform also enables Chinese insurers to compare quotations, terms, and underwriting conditions from multiple providers, fostering a more competitive environment.
This new trading hub facilitates easier access for foreign direct insurance companies to collaborate with Chinese reinsurance capacity, which can help lower premiums for overseas projects handled by domestic firms and ensure stable risk management, a company representative explained.
Data shows the center currently comprises 90 Chinese insurance companies and 28 foreign institutions. In the first eight months of the year, transaction premiums exceeded CNY 4.4 billion (approximately USD 618 million), with outward reinsurance premiums reaching CNY 94.6 billion (around USD 13.3 billion) and inward reinsurance premiums totaling CNY 9.5 billion.
Many industry players, including over 80 Chinese property and casualty insurers such as PICC Property and Casualty, frequently meet and negotiate within Lingang, often gathering with partners for further discussions.
Overall, 26 specialized reinsurance companies, including 21 operational centers, one branch, and four brokerage offices, have established a presence in Lingang, creating a comprehensive ecosystem that supports inward reinsurance, outward reinsurance, and brokerage services.
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