The Hong Kong Insurance Authority (IA) has outlined a strategic focus to expand the region’s Insurance Linked Securities (ILS) capacity, in its latest annual report.
With four catastrophe bonds already issued, totalling HK$4.4bn (US$562m), including a notable US$350m issuance backed by the World Bank, the IA is looking to enrich the ILS product structures and foster a vibrant ecosystem.
Other key initiatives on the regulator’s table are the elevation of Hong Kong as a leading captive insurance domicile and the enhancement of data exchange with Mainland China.
The report also highlights the early adoption plans of a Risk Based Capital (RBC) framework by five insurers, including AIA Hong Kong and Macau and Prudential Hong Kong.
FULL ORIGINAL PUBLICATION HERE
