The anticipated Shanghai Insurance Exchange could launch as early as this weekend, according to reports in Chinese news media. While product specifics remain private, reports suggest the exchange will facilitate insurance derivatives and other forms of risk securitization at some stage.
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Local Chinese news media reports that a launch of the Shanghai Insurance Exchange is edging ever nearer, with a reported 91 companies having agreed to contribute a combined $343 million (2.235bn yuan) of capital to launch the exchange.
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The city of Shanghai in China has been slowly establishing itself as an international financial center and wants to reach that goal by 2020. The insurance industry lags behind banking and securities though and so plans are underway to change that. One of the initiatives being worked on is the planning of an insurance exchange […]
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