Hong Kong’s Insurance Authority (IA) is set to increase its efforts to promote its nascent insurance-linked securities (ILS) framework and attract more catastrophe bond or ILS issuance activity to the country.
The Insurance Authority (IA) has been promoting Hong Kong’s ILS framework for a number of years now, with two catastrophe bonds issued there so far.
Hong Kong finalised its insurance-linked securities (ILS) regulatory regime last year, alongside the legislation necessary to establish special purpose insurance or reinsurance vehicles for securitisations and issuance of catastrophe bond notes.
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