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Hong Kong assures assistance for insurance firms

The Hong Kong Exchanges and Clearing has assured insurance firms that it will continue to help them raise funds. There are currently 17 insurance firms listed in Hong Kong, accounting for about 5.5% of the local bourse's total market capitalization. Nicolas Aguzin, chief executive of HKEX, said that six of these firms are among the top 20 insurers in the world in terms of market value. Aguzin said Hong Kong plays an important role in the insurance industry as a financial hub and 13 of the world's top 20 insurance companies operate in Hong Kong as of last year. Nic Nicandrou, chief executive of Asia & Africa at Prudential, said that governments in many Asian countries are encouraging people to address health and retirement protection issues through the private insurance market.

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