China's National Financial Regulatory Administration and the Shanghai municipal
government issued measures to accelerate construction of the Shanghai
international reinsurance centre. The package pushes domestic insurers to
centrally register reinsurance contracts and claims at the reinsurance
registration and trading centre, and encourages large corporates in the China
(Shanghai) Pilot Free Trade Zone Lingang New Area to centralise risk-protection
management to better match risk with underwriting capacity. Authorities will
support the registration centre in improving data standards, implementing graded
and classified data management, and strengthening legal/compliance controls on
data governance and security. The measures also promote deeper data use to
support insurance and credit-risk research and to build professional
risk-management capabilities in China’s insurance sector.
