As the first national insurance market, the Shanghai Insurance Exchange has officially opened on 12 June. Yuan Linjiang, Chairman of China Re Group, attended the opening ceremony of the Shanghai Insurance Exchange.
Shanghai Insurance Exchange is the first state-level and innovative insurance market in China. The establishment of the Shanghai Insurance Exchange is an important measure of implementing the strategic policy of the State Council in relation to the insurance industry and accelerating the opening and innovation in the insurance industry, as well as an important step to make Shanghai a global financial centre. Before the ceremony, a founding meeting of the Shanghai Insurance Exchange was held in Beijing on 18 May and a total of 91 founding shareholders participated with the aggregate subscribed capital of RMB2.235 billion.
China Re Group has been an active participant in establishing the Insurance Exchange and played an important role in model examination, project design and investment for the Insurance Exchange, which was widely endorsed by relating parties. China Re Group, with its main subsidiaries, has made investment in the Shanghai Insurance Exchange and thus became one of the substantial shareholders of the Shanghai Insurance Exchange in terms of their aggregate shareholdings. Looking forward, China Re Group will also make an effort to establish various commercial platforms for the Shanghai Insurance Exchange in order to promote the cooperation on different levels and to procure the overall development of innovation in the insurance industry with its unique advantages.