At a recent event held in the city, speakers representing the government of the Hong Kong Special Administrative Region (HK SAR) of the People’s Republic of China were keen to promote the development of its insurance-linked securities (ILS) market offering and to attract more catastrophe bond business.
With its ILS regulatory regime and ILS grant scheme now up and running for a few years, Hong Kong has hosted as domicile, or listed on its stock exchange, US $562.5 million of catastrophe bonds so far.
Having extended its ILS Grant Scheme by two years this year, Hong Kong’s lawmakers are keen to see more ILS market activity brought to its shores.
