Lloyd’s broker SAIB (UK) granted trading seat at Shanghai International Reinsurance Exchange

Shanghai Asian Insurance Brokers (UK) Ltd. (SAIB UK) is one of six institutions, although the first and only UK-based Lloyd’s broker, recently granted a trading seat at the Shanghai International Reinsurance Exchange (SIRE).

The introduction of trading seats at the SIRE aims to create greater market transparency, efficiency, and international participation.

SIRE was officially established in October 2024, designed to serve as a comprehensive hub, focusing on integrating institutions, facilitating business transactions, and improving risk management practices.

This initiative bridges central and local entities, accelerating Shanghai’s aim of becoming a global reinsurance hub while providing a streamlined platform for domestic and international players.

The other five institutions granted a trading seat include China Taiping Insurance (HK) Co., Ltd, AEGON Direct Marketing Services, Wilson RE Limited, Redbridge Insurance Company Ltd, and Société Financière d’Assurance.

In a statement, the broker said, “The demand for innovative, efficient, and internationally integrated reinsurance solutions has never been greater, and Shanghai is emerging as a pivotal hub for this progress. Our latest milestone, securing a trading seat at the Shanghai International Reinsurance Exchange demonstrates our commitment to expanding our global presence and bringing cross-border reinsurance solutions to the London market.”

By participating in this initiative, SAIB (UK) strengthens its ability to provide clients with efficient and cost-effective access to China’s reinsurance market.

Entering the SIRE also aligns with the broker’s strategy to bridge international markets with China’s reinsurance sector, and will allow them to serve as an intermediary, connecting insurers and reinsurers to provide tailored risk solutions.

“Our participation in this initiative represents a major milestone not only for SAIB (UK) but also for the international reinsurance industry. As we continue to navigate the evolving landscape of international reinsurance, we remain committed to strengthening our partnerships, delivering value-driven solutions, and contributing to the long-term success of the Shanghai International Reinsurance Exchange,” said the broker.

Adding, “Our access to the Chinese insurance market is unparalleled across the London market, with this recent development allowing us to manage broking, negotiations, data handling, and other key trading activities for international reinsurance business within the SIRE.”

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