The Insurance Regulatory Authority (Insurance Regulatory Authority) today (September 1, 2021) held a panel discussion at the “Belt and Road” Summit Forum 1 to discuss how Hong Kong can leverage on the advantages of its exclusive self-insurance base and reinsurance hub, and consolidate its position in the “October” Under the “Fourth Five-Year Plan”, it has a strategic position as a risk management center for mainland enterprises to “go global”.
Speakers of the forum came from mainland insurance companies, insurance consultants who specialize in providing services for mainland companies’ overseas project investment, senior executives from international reinsurance companies and mainland captive insurance companies. They all have rich experience in supporting mainland companies in managing overseas project risks through risk management services and insurance solutions. They have analyzed in depth how Hong Kong, which is located at the intersection of the domestic and international “dual cycle”, can support mainland companies to “go global” and borrow This fulfills the role of the mainland risk management center.
Mr. Lin Ruijiang, Executive Director (General Business) of the China Insurance Regulatory Commission, said: “Under the influence of current geopolitics, Hong Kong, as a special administrative region of China, has an increasingly important position in the international financial and insurance markets. Mainland companies set up captive insurance companies in Hong Kong. They have also become their main risk management solutions for actively managing risks in overseas projects. In the long run, these businesses will drive Hong Kong’s insurance ecosystem and strengthen our position as a global risk management center and regional insurance and reinsurance hub.”
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