SAIB signed the Cooperation Agreement with SHIE on International Reinsurance Platform（2018-8-10）

On August 8th 2018, Shanghai International Reinsurance Center Establishment Promotion Conference and the launching ceremony of SHIE International Reinsurance Platform were held at China Financial Information Center. Twelve insurance institutes including ten insurance companies and two insurance brokers were invited to sign the cooperation Agreement on International Reinsurance Platform with SHIE. SAIB was the only Chinese insurance brokers invited to sign this cooperation Agreement and Wang Chengbao, Deputy GM attended the Signing Ceremony on behalf of SAIB.

That event was held by CIRC Shanghai Bureau, Shanghai Municipal Financial Services Office and SHIE. Pei Guang, General Secretary of the Communist Party and Director General of CIRC Shanghai Bureau,  Xie Dong, Deputy Director of Shanghai Municipal Financial Services Office, Chen Xi, Deputy Head of Pudong New District, Shi Liya, Manager of Cross-border RMB Business Department of PBC Shanghai Head Office and Zeng Yujin, SHIE chairman delivered their speeches.

Pei Guang, General Secretary of the Communist Party and Director General of CIRC Shanghai Bureau pointed out in his keynote speech that the establishment of Shanghai International Reinsurance Center was an important decision made jointly by CIRC and Shanghai government and now the basic framework of Shanghai International Reinsurance Center had been established. Xie Dong, Deputy Director of Shanghai Municipal Financial Services Office in her keynote speech said that the development of Shanghai reinsurance market and the establishment of Shanghai International Reinsurance Center would help raise the position of Shanghai International Insurance Exchange Center and provide stronger support for the establishment of Shanghai International Financial Center.

SHIE International Reinsurance Platform is one of the “3+1” important business platforms approved by the State Council and the important carrier of carrying out the “40 rules about Financial Reform of Shanghai FTZ” in pushing for reinsurance pricing and exchange center. The launching of the International Reinsurance Platform helped to meet the demands of market for reinsurance infrastructure service and enhanced the radiate and driving function of Shanghai market. It’s the new model of institutional innovation of Shanghai FTZ, and also the new attempt about the establishment of the multi-level reinsurance market. The insurance institutes which signed ceremony of cooperation agreement on International Reinsurance Platform with SHIE would be able to conduct further cooperation with SHIE in different respects in the future, work together with SHIE to improve the functions of the International Reinsurance Platform and expand its market influence. The insurance institutes would carry out reinsurance exchanges through the Platform of SHIE actively, and exchange information regularly in business development and technology research of the international reinsurance market.

As the first Chinese insurance broker to register in Lloyd’s and establish subsidiary in the UK, SAIB has always been using Lloyd’s superior platform to provide reinsurance brokerage service for the domestic insurance market. In the future, SAIB would be able to conduct further cooperation with SHIE and continue to make use of the advantages of SHIE International Reinsurance Platform to actively expand the domestic reinsurance market and contribute to the establishment of Shanghai International Reinsurance Center.