The Insurance Authority granted new authorization to CNNC Captive Insurance Limited, the first captive authorized in 2026, increasing the total to seven in Hong Kong. The IA's Chief Executive Officer highlighted the importance of captives in enterprise risk management and the potential for growth in the Chinese Mainland and other parts of Asia.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On March 3, 2026, the Insurance Authority ("IA") granted authorization to CNNC Captive Insurance Limited, a subsidiary of China National Nuclear Corporation. This authorization marks the first captive insurer of the year, increasing the number of such companies based in Hong Kong to seven.
Mr. Clement Cheung, the Chief Executive Officer of the IA, underscored the significance of captives in the realm of enterprise risk management for global corporations. He expressed enthusiasm at the establishment of CNNC Captive Insurance Limited, and outlined plans to actively explore opportunities for further development in the Chinese Mainland as well as other regions of Asia. Mr. Cheung also highlighted Hong Kong's unique value proposition.
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