Hong Kong is expected to attract both new captive formations and existing captives currently domiciled overseas as it seeks to strengthen its position as a leading captive hub in Asia, according to Steve Hutchinson, head of corporate risk & broking in Hong Kong & Macau at WTW.
The Hong Kong Insurance Authority (HKIA) granted two new captive authorisations in July, including the first Hong Kong captive owned by a Chinese Mainland privately-owned enterprise, taking the total number licensed in the jurisdiction to nine.
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