Hong Kong Treasury Department: AXA's return to Hong Kong registry demonstrates confidence in Hong Kong's status as an international financial center.

The Chief Executive of the Hong Kong Financial Treasury Bureau, Joseph Chan, commented on social media that AXA as one of the first insurance companies to relocate back to Hong Kong has demonstrated a strong confidence in Hong Kong's status as an international financial center. After relocation, the regulatory and reporting processes have been simplified, leading to improved operational efficiency. This change allows Hong Kong to better capture the opportunities brought by the Greater Bay Area and innovative technology, bringing the highest quality products and services to customers. Chan mentioned that Hong Kong insurance companies are actively investing in advanced technologies such as AI, big data, and blockchain to drive industry transformation. Currently, through digital claims processing, personalized insurance products and intelligent risk assessment, customer experience and operational efficiency have been enhanced. The connectivity with mainland China has brought new market opportunities to the Hong Kong insurance industry, for example, cross-border car insurance: "Hong Kong cars heading north" and "Guangdong cars heading south" promote the free flow of vehicles across borders. Hong Kong's insurance industry is responding to this demand, with low-altitude economy emerging as a new industry, bringing new application scenarios for logistics, tourism, and medical rescue fields. He stated that the Hong Kong government has established a "Low Altitude Economy Development Working Group" to promote the construction of cross-border low-altitude flight paths. The Hong Kong insurance industry is actively responding by developing specialized insurance products for areas such as drones and air traffic, seizing the business opportunities brought by ShenZhen New Industries Biomedical Engineering. Hong Kong will continue to deepen cooperation with mainland China and international markets to promote the long-term sustainable development of the insurance industry.