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Hong Kong Insurance Authority looks to build ILS market

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.


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