Hong Kong courts overseas insurers amid global trade risks

Hong Kong is inviting overseas-incorporated insurers with significant local operations to re-domicile in the city, aiming to boost its insurance hub status and offset external trade challenges, Secretary for Financial Services Christopher Hui said Monday. The new re-domiciliation regime, effective last Friday, allows insurers to relocate to Hong Kong while retaining corporate continuity, enabling access to China and broader Asia under a low-tax, robust regulatory environment. Hui cited rising US tariff risks as a key driver for firms to seek Hong Kong’s insurance and risk management offerings. Captive insurers will enjoy a 50% profits tax cut, he added. The government is also pushing for elderly-focused insurance products linked to the Greater Bay Area and courting international insurers with geriatric expertise.