Insuring Success: Enabling Sustainable Growth and Innovation to Cement Hong Kong’s Role as a Premier Global Insurance Hub (Highlights)
27 Mar 2025
As a prominent international financial centre in the Asia Pacific region, Hong Kong has firmly established itself as a premier global insurance hub. This position has attracted many leading international insurance firms to establish their Asia regional headquarters in the city. Factors contributing to this attractiveness include the robust growth and profitability of the local market, a business-friendly environment supported by a stable regulatory framework and adherence to the rule of law, geographical proximity to the Mainland market, access to a deep pool of top-tier insurance professionals, and seamless regional connectivity.
Despite recent challenges, including the impact of the pandemic and fluctuations in interest rates, the city has demonstrated resilience, witnessing a significant rebound in 2022. Nonetheless, to further reinforce Hong Kong’s status as a leading, global sophisticated insurance hub, the industry must explore diverse opportunities across various sectors and markets.
As such, the Financial Services Development Council (FSDC) established a Working Group to examine the most prominent issues affecting the industry’s future. While it is by no means an attempt to address an exhaustive list of challenges, the primary objective of this paper is to underscore the insurance industry as a foundational pillar of the economy of Hong Kong and its role as an international finance centre. Through an in-depth analysis of the sector’s current landscape, the paper will propose critical policy enhancements and strategic initiatives to strengthen Hong Kong’s position as the preeminent global insurance hub in Asia.