11 August 2025
The Insurance Authority (IA) granted authorization to SAIC Motor Insurance Limited, a captive established by the SAIC Motor Corporation Limited.
Mr Clement Cheung, Chief Executive Officer of the IA, said, “This is already the second authorization of this kind in 2025, reflecting a positive response from the market and clear signs of momentum building up on our campaign to develop Hong Kong into a vibrant captive domicile.”
“The IA has mapped out a strategy focusing on the evolving risk management needs of state-owned and private enterprises in the Mainland as well as local multinational conglomerates. We are examining the feasibility of accommodating additional captive structures and widening the scope of risk coverage, with a view to enhancing our global competitiveness,” he added.
Ends