From: Captive International
Hong Kong will play an increasing role as a captive hub, according to the administrative region’s insurance regulator.
The executive director of general business at the Insurance Authority said that the region was already playing an increasingly significant role in the global financial and insurance market.
“The establishment of captive insurance companies in Hong Kong has become a primary risk management solution for mainland enterprises to actively manage their overseas projects’ risks,” he told a breakout forum at the Belt and Road Summit, being held in Hong Kong.
“In the long run, these businesses will provide impetus to the insurance ecosystem in Hong Kong and reinforce our position as a global risk management centre and a regional re/insurance hub,” he continued.