Hong Kong insurance industry welcomes new ILS regulatory regime and expansion of captive insurance business (March 2021)
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In a move to further promote Hong Kong's insurance business in Asia and the Guangdong-Hong Kong-Macao Greater Bay Area, the new regulatory regime for insurance-linked securities (ILS) and the rules relating to the expansion of captive insurance business will come into operation on 29 March 2021. Together with the group-wide supervision framework that will come into effect on the same day, the government continues its effort in boosting Hong Kong’s status as an international insurance hub and risk management centre.
