The government of Hong Kong is budgeting for a further three year extension to its Pilot ILS Grant Scheme, as the Special Administrative Region continues to target bringing catastrophe bond and insurance-linked securities (ILS) issuance to its financial market.
Hong Kong aims to continue developing its still nascent insurance‑linked securities (ILS) market, with attracting issuers seen as the most important initiative, it appears.
Hong Kong has been especially active in looking to encourage more issuers to locate catastrophe bond and ILS arrangements there.
Offering a grant to issuers, to assist in paying some of the high issuance costs for insurance-linked securities (ILS) such as catastrophe bonds, is one way Hong Kong has been trying to attract more ILS business to its market.
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