Yin Jianga: The future of China's insurance market is promising, and reinsurance should take action.

Yin Jianga, director of the Property Insurance Department of the China Banking and Insurance Regulatory Commission, stated at a special event at the 2025 Lujiazui Forum that insurance is an important tool for managing economic and social risks, and reinsurance is the "regulator" for stable operation of the insurance market, serving as insurance for insurance. "China's insurance market has broad prospects, and reinsurance should play a role," he said. Specifically, he analyzed that China's GDP was about 19 trillion US dollars last year, accounting for 18% of the global total, while China's premium income was about 800 billion US dollars, accounting for 11% of the global total. China's insurance depth is 4.2%, compared to 7% globally; and China's insurance density is 568 US dollars, compared to 883 US dollars globally. "Therefore, it can be seen that China's insurance industry still has a lot of room for development, and reinsurance should play a good guiding and driving role in it," he said.