Insurance Authority welcomes CBIRC regularising preferential measures for Hong Kong insurance industry
保險業監管局歡迎中國銀行保險監督管理委員會把給予香港保險業的優惠措施常規化
The Insurance Authority welcomes the China Banking and Insurance Regulatory Commission formally incorporating the preferential measures for the Hong Kong insurance industry into the Insurance Company Solvency Regulatory Rules (II). Implemented since 2018, the measures allow an equivalent preferential factor to apply when mainland insurance companies cede business to qualifying professional reinsurance companies in Hong Kong. The rules also specify the relevant capital requirements for mainland insurance institutions issuing catastrophe bonds in Hong Kong.
The preferential measures have been extended annually since their implementation in 2018, and have now been formally incorporated into the Rules (II), allowing readers to verify the long-term arrangements and scope of application of the measures.
Source: 保監局·新聞稿 · ia.org.hk