Skip to main content

Budget Speech

Insurance and International Risk Management Centre

84. We are currently undertaking a series of legislative work to provide for half-rate profits tax concessions to eligible insurance businesses including marine insurance and specialty insurance; facilitate the issuance of insurance-linked securities (ILS) in Hong Kong; expand the scope of insurable risks of captive insurance companies; and enhance the group-wide supervision framework by the end of next month.  We are also preparing for the implementation of a Risk-based Capital Regime for the insurance industry to replace the rule-based capital adequacy regime.

85. I propose launching a two-year Pilot Insurance‑linked Securities Grant Scheme to attract insurance enterprises or organisations to issue ILS in Hong Kong.  The amount of grant for each issuance will be capped at $12 million, depending on the maturity of the ILS.  The IA will announce the details in due course.



Previous Page | Content | Next Page