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HK insurance industry needs revamp to pull out of 'crisis'

Govt advisory body lays out recommendations, says city losing out to Singapore both in insurance and reinsurance

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Published Thu, Mar 9, 2017 · 09:50 PM

    Hong Kong

    HONG Kong is eyeing policy, tax and regulatory reviews to boost its insurance industry following the recent departures and downsizing of international insurance and reinsurance firms here.

    Hong Kong also faces challenges from Asian competitors in reinsurance, marine insurance and captives, Winnie Wong, a member of the Financial Services Development Council (FSDC) and chief executive officer of Asia Insurance Company, told reporters on Thursday.

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