The International Reinsurance Functional Zone in Shanghai's Lin-gang Special Area recorded 11.79 billion yuan ($1.76 billion) in premium transactions from January to August, exceeding the full-year figure for 2025.

After taking 12 months to reach its first 10-billion-yuan milestone, the zone crossed 20 billion yuan in just eight months. This highlights the accelerating growth of Shanghai's development as an international reinsurance center.

The progress would not have been possible without strong policy support. Three dedicated policies were jointly introduced by national and local authorities over the past five years. Their coordinated efforts send a clear signal of China's continued commitment to deepening reform and opening-up in the reinsurance sector.

Shanghai International Reinsurance Exchange. [Photo/WeChat ID: shlgguanweihui]

Meanwhile, an action plan to develop offshore finance in Shanghai identifies offshore reinsurance as one of six priority business areas. Backed by this favorable measure, cross-border inward reinsurance premiums in Lin-gang reached 738 million yuan in the first half of 2026, up 131 percent year-on-year.

Lin-gang is now home to 26 reinsurance institutions, covering the full range of businesses from inward and outward reinsurance to brokerages. 

Over 170 institutions have registered with the Shanghai International Reinsurance Exchange and obtained trading access. Meanwhile, ICBC-AXA Life recently became the first life insurer to join the exchange, further enhancing the diversity of the platform's participant base.