Hong Kong’s Government has revealed some of the details of its proposed insurance-linked securities (ILS) grant scheme, through which it will pay a share of issuance costs for any ILS structures issued out of the Special Administrative Region.
The Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of China has been preparing to allow insurance-linked securities (ILS) issuance from its financial market for a number of years now, seeking to establish itself as a venue for the issuance of catastrophe bonds and other reinsurance linked instruments.
The Hong Kong Government’s Legislative Council passed the Insurance (Amendment) Bill 2020 on July 17th and later said it was targeting a full introduction of the new ILS regulatory regime by the end of 2020 or early 2021.
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