Qianhai Reinsurance

Qianhai Reinsurance (QHR) is a Chinese composite reinsurer headquartered in the Qianhai Free Trade Zone in Shenzhen. Founded in December 2016, the company was established with backing from a public-private partnership of seven strategic investors. The controlling shareholders are three state-owned enterprises—Qianhai Financial Holdings Co., Ltd., China Post Group, and Shenzhen Capital Co., Ltd.—which each hold a 20% stake. The remaining 40% is held by four private companies. In 2024, US-based Prudential International acquired a 10% stake through a judicial auction, becoming a significant foreign investor.

Qianhai Re offers a diversified portfolio of reinsurance services across property & casualty (P&C) and life & health sectors. The company provides both proportional and non-proportional treaty reinsurance. Its P&C offerings include specialized solutions like index-based catastrophe reinsurance for events such as floods. The life and health segment, which is the primary driver of its underwriting results, focuses on traditional protection products and collaborates with over 80 insurance partners. The company has been scaling back its financial reinsurance business due to regulatory changes. To support its services, Qianhai Re has developed in-house digital tools, including a system for underwriting non-standard or complex risks more efficiently.

Since its inception, Qianhai Re has focused on steady growth and global expansion. It achieved profitability by 2019 and has consistently expanded its market presence, ranking 34th in AM Best's “Top 50 Global Reinsurers” by 2021. The company has expanded into multiple Asian markets and established a presence in Hong Kong for cross-border reinsurance. Financially, the company's capital and surplus reached RMB 3.5 billion (approximately USD 500 million) in 2023, supported by full retention of net profits. It has maintained an A- (Excellent) Financial Strength Rating from AM Best. The business model is focused on a profit-driven underwriting strategy, particularly for non-catastrophe risks within China, while rebalancing its overseas portfolio to improve business quality.

Keywords: composite reinsurer, property and casualty reinsurance, life and health reinsurance, treaty reinsurance, Chinese insurance market, Shenzhen, Qianhai Free Trade Zone, risk management, capital management, proportional reinsurance, non-proportional reinsurance, catastrophe reinsurance, cross-border reinsurance, state-owned enterprise, foreign investment, AM Best rating, underwriting, non-standard risk, insurance technology, asset-liability management