At the start of last month, the Hong Kong Insurance Authority (HKIA) granted new authorisation to Wayfoong (Asia) Limited, a wholly-owned subsidiary of the HSBC Group and the first captive formed by a multinational enterprise based in Hong Kong.
After licencing the jurisdiction’s first captive owned by a multinational enterprise, there is a real sense of momentum building in the domicile and an eagerness for further growth.
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