The 2024 Shanghai International Reinsurance Conference unfolded on Oct 22 in Shanghai's Lin-gang Special Area, attracting over 1,300 participants representing more than 360 institutions from 23 countries and regions worldwide.

A significant highlight was the official unveiling of the Shanghai International Reinsurance Exchange, which aims to establish an institutional aggregation center, a business transaction center, a risk management center, and a unified registration service system. The center will precisely align with various special supportive policies in the Lin-gang Special Area, thereby enhancing the efficiency, professionalism, and security of reinsurance registration and trading services.

The Shanghai International Reinsurance Exchange is inaugurated at the 2024 Shanghai International Reinsurance Conference. [Photo/WeChat ID: shlgguanweihui]

During the conference, the second batch of supporting business rules for the Shanghai International Reinsurance Exchange were formally introduced. These rules cover aspects of cross-border and domestic reinsurance businesses, all aimed at fostering a more efficient, standardized, and transparent market.

The International Reinsurance Functional Zone in Lin-gang showcased its typical cases for 2024 at the conference. The China flood catastrophe model 2.0 was officially released, alongside the inauguration of the Yangtze River Delta Urban Meteorological Insurance Joint Innovation Engineering Center.

The conference has been held five times, placing it among the four major annual meetings for reinsurers worldwide. This year's edition is notable for being the first global event organized by direct insurers and reinsurers for reinsurance renewal roadshows.