ICBC-AXA Life has become the first life insurer to join the Shanghai International Reinsurance Exchange in the Lin-gang Special Area, further diversifying the platform's participant base.

Reinsurance, often called "insurance for insurers", plays a vital role in global risk diversification and the efficient allocation of capital.

In July 2024, the National Financial Regulatory Administration, in coordination with the Shanghai government, released a plan to establish the Shanghai International Reinsurance Exchange in Lin-gang.

Follow-up measures were introduced last month, establishing a comprehensive framework for institutional layout, unified registration, and cross-border cooperation.

With sustained policy support, the exchange had already attracted more than 170 institutions by the second quarter of this year. Its achievements have been recognized as among the top 10 events in the development of Shanghai's international financial center for three consecutive years.

The pioneering registration of ICBC-AXA Life with the exchange is expected to broaden risk-management options for the life-insurance sector and support China's efforts to align its reinsurance market with international standards.

Source: en.lingang.gov.cn