HSBC's Wayfoong Becomes Hong Kong's First Captive Insurer Formed by a Multinational Enterprise
- Actomate
- Jul 23
- 1 min read
HSBC received regulatory approval to establish Wayfoong (Asia) Limited as a captive insurer, marking the first time a multinational enterprise has done so in Hong Kong. The captive, fully owned by HSBC, will reinsure employee-benefit risks across Hong Kong and the wider Asia‑Pacific region. The Insurance Authority and government expect the move to elevate Hong Kong’s status as a captive insurance domicile and international risk‑management hub. Authorities highlighted supportive policy measures—including a 50% tax concession—to attract more global firms to set up captives locally. The development underscores regulatory and market momentum in Hong Kong toward becoming a leading centre for global captive structures.
Source: Reinsurance News
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