Hong Kong’s proposed insurance-linked securities (ILS) grant scheme, that will pay a share of issuance costs for catastrophe bond sponsors electing to use the domicile once its ILS regulatory regime is ready, is seen as an initiative to enhance the development of the local marketplace and could result in a first transaction being issued this year.
This is according to Hong Kong’s Insurance Authority (IA), the independent insurance and reinsurance regulator for the Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of China.
