Hong Kong Insurance Authority hosts captive forum

Hong Kong’s Insurance Authority (IA) has hosted the latest edition of its Captive Forum in Beijing, drawing close to 100 participants from enterprises, captive insurers, re/insurers and professional service providers from the Chinese Mainland and Hong Kong, to discuss the role of captives in risk management.

Clement Lau, executive director, policy and legislation of the IA, highlighted Hong Kong’s appeal and advantages as a global risk management centre bolstered by the growing momentum from new captives in his opening remarks. 

“The ever-increasing complexity of external risks, coupled with the rapid development of new technologies, compels enterprises to adopt a more holistic and autonomous approach to risk management, which captive insurance can effectively support,” he said. 

“With one of the most open insurance markets in the world, Hong Kong is an ideal domicile for Chinese Mainland enterprises to establish captives. The IA will spare no effort in fostering a robust captive ecosystem by advancing facilitative policies, as well as attracting talents and strengthening related professional services.”

The forum featured three panel discussions involving industry experts who shared insights on the value proposition of captives in enhancing enterprises’ risk management capabilities particularly when they venture abroad, risk consolidation towards the set-up of captive insurers and the collaboration between captives and commercial insurance market.

For further details about Hong Kong’s captive regime, please reach out to the IA at captives@ia.org.hk.

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