China Banking and Insurance Regulatory Commission reported on a 22–23 April high-level international seminar on insurance supervision in Shanghai, co-hosted with the Bank for International Settlements’ Financial Stability Institute and the International Association of Insurance Supervisors (IAIS), with over 150 participants from 27 jurisdictions. The programme covered six topics, including the impact of macroeconomic shifts on insurance, progress in international insurance regulatory reforms, risk resolution frameworks for insurers, supervisory frameworks for climate-related financial risks, reinsurance market development and regulation, and financial innovation and insurance supervision. In a keynote speech, CBIRC Vice Chairman Xiao Yuanqi highlighted the sector’s growth potential while pointing to key external drivers that insurers and supervisors need to address, including interest-rate trends in major economies, climate change and technological change, and called on global insurers to reassess strategy and business models and strengthen resilience. Supervisory representatives from bodies including the European Insurance and Occupational Pensions Authority, the Monetary Authority of Singapore, the Bermuda Monetary Authority and the Hong Kong Insurance Authority shared prudential approaches to interest-rate risk management, preventing cross-sector risk contagion, innovation-related supervision and climate-risk responses. IAIS and FSI officials outlined the main content and implementation impacts of the Insurance Capital Standard (ICS) and emphasised continued cooperation on solvency supervision, risk monitoring and recovery and resolution to support consistent global implementation; a dedicated reinsurance session promoted the development of the Shanghai reinsurance centre, and Xiao held bilateral meetings with IAIS and FSI leadership to deepen cooperation with IAIS, the Bank for International Settlements and the FSI.

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