On October 22, the 2025 Shanghai International Reinsurance Conference was held. Zhuo Ganzhi, Secretary of the Party Committee of China Re 01508, stated that the next ten years will be a period for China's reinsurance industry to address existing gaps. Accelerating reinsurance development has become the fundamental logic and strategic choice for the next phase of financial reform and development.

In 2024, China’s GDP accounted for 17% of the global total, with its insurance market size representing 10% globally; however, the reinsurance market's share is only 4%, ranking it seventh in the world. There is a significant gap in reinsurance supply in high-monopoly and technologically demanding areas of catastrophic, complex, and special risks. There is an urgent need to enhance the aggregation of market elements, risk pricing, and market leadership capability in China's reinsurance sector.

Zhuo emphasizes the importance of recognizing the functional value of reinsurance in building a strong financial nation and serving China's modernization. He highlights the significant opportunity in the next decade for reinsurance to support the construction of an economic safety net, a livelihood guarantee network, and a disaster protection network.

At the enterprise level, how can the role of reinsurance be deepened to accelerate the development of China's reinsurance market?

Zhuo outlines three key points: 1. Strengthening research leadership. The reinsurance industry is a typical research-driven and innovation-driven financial sector. With advantages in data aggregation and cross-industry analysis, and a global exchange and interaction mechanism, reinsurance institutions should enhance their understanding of catastrophic risks, emerging risks, and complex risks. They must overcome challenges in risk pricing and develop comprehensive solutions to provide risk guarantees for social and economic development.

2. Empowering through technology. Traditional actuarial methods struggle to effectively assess new risk challenges. Technological innovation not only optimizes business processes but also broadens service boundaries, enabling the reinsurance industry to more accurately predict various risks in specific regions and achieve differentiated precise pricing. In the future, leading reinsurance companies will not just be capital providers but also creators of risk value driven by technology.

3. Strengthening industry collaboration. Reinsurance institutions typically exhibit characteristics of platform companies, playing an important role in establishing risk-sharing mechanisms and acting as a community force within the industry. Given the increasingly complex risk landscape, the entire industry can better serve as a "social stabilizer" and "economic shock absorber" through deep collaboration. In the future, reinsurance should leverage its business neutrality to actively promote industry collaboration, achieve underwriting capacity integration, and develop industry standards while sharing risk data, ultimately enhancing the resilience of the entire financial system.