The Insurance Authority of Hong Kong granted authorization to SAIC Motor Insurance Limited, a captive insurance company established by SAIC Motor Corporation Limited, on 11 August 2025, reflecting positive market response and momentum for Hong Kong as a vibrant captive domicile.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On 11 August 2025, the Insurance Authority ("IA") granted authorization to SAIC Motor Insurance Limited, a captive insurance company established by SAIC Motor Corporation Limited.
This authorization marks the second such grant in 2025 by the IA, reflecting a robust market response and the growing momentum of Hong Kong as a dynamic captive domicile. Mr. Clement Cheung, Chief Executive Officer of the IA, emphasized that this approval aligns with the IA's strategic focus on addressing the evolving risk management requirements of state-owned and private enterprises, as well as local multinational conglomerates, in the Mainland and beyond.
Mr. Cheung further underscored that the IA is exploring the feasibility of accommodating more captive structures and expanding the scope of risk coverage to enhance Hong Kong's global competitiveness.
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