Hong Kong Insurance Authority: Actively expand reinsurance and captive insurance business to strengthen Hong Kong's development as an insurance risk management hub

Hong Kong Insurance Authority Chairman Stephen Yiu said that the new Policy Address of the Hong Kong SAR Government mentions that Hong Kong will further improve the insurance regulatory regime and build a multi-tiered risk management system, and that the Hong Kong Insurance Authority is actively expanding reinsurance and captive insurance business. Stephen Yiu pointed out that the Hong Kong Insurance Authority is committed to cultivating an ecosystem for captive insurance and insurance-linked securities, developing specialized insurance to support commodities including precious metals, expanding the underwriting capacity of the "Marine Specialized Risk Pool," and advancing the "Artificial Intelligence Promotion Plan." It will also encourage the industry to enrich cross-boundary insurance products, deepen connectivity with the mainland insurance market, and fully leverage Hong Kong's strategic function as a risk management hub. He emphasized that the Hong Kong Insurance Authority will align with the "First Five-Year Plan for Hong Kong" and implement measures such as deepening regulatory collaboration, creating specialized risk management tools, and improving the risk-based capital regime, thereby supporting Hong Kong's development as a "four centers, one high ground" and consolidating its competitive advantages as an international financial center.