Lee Ka-chao: Currently, there are over 160 authorized insurance companies in Hong Kong, including three international insurance groups with Hong Kong as their group regulatory base.

In a video speech at the 16th World Chinese Insurance Conference and the 2026 International Dragon Award IDA Annual Meeting, Chief Executive of the Hong Kong SAR John Lee Ka-chiu stated that insurance is an important part of the financial system, safeguarding social livelihoods and supporting the real economy. The national "14th Five-Year Plan" clearly supports Hong Kong in consolidating and enhancing its status as an international financial center, strengthening the functions of international asset and wealth management, as well as international risk management. Hong Kong is rapidly formulating its first five-year plan to proactively align with national strategies and further assist in high-level financial openness. Currently, there are over 160 authorized insurance companies in Hong Kong, including three international insurance groups headquartered in Hong Kong. Hong Kong has the highest insurance penetration rate in the world, and its insurance density remains among the top in the world. The SAR government is adopting multiple measures to promote the steady development of the insurance industry. Since taking office, this government has announced a blueprint for the development strategy of Hong Kong's insurance industry, supporting the sector in playing a role that connects the domestic and international markets within the dual circulation strategy, thus unleashing the social value of insurance. John Lee Ka-chiu indicated that Hong Kong is one of the core engines of the Guangdong-Hong Kong-Macao Greater Bay Area, which is an ideal entry point for participating in the domestic circulation. We encourage the industry to develop cross-border pension and medical insurance products to benefit residents of the Greater Bay Area. The SAR government will continue to maintain close communication with mainland departments to provide better after-sales support for residents holding Hong Kong policies, promoting connectivity between the insurance markets of the two regions. Hong Kong will fully leverage its role as a "super connector" and "super value creator" to facilitate smooth domestic and international dual circulation, helping the industry respond to changes in the geopolitical landscape. John Lee Ka-chiu mentioned that a dedicated regulatory system will be established for insurance-linked securities, along with the introduction of funding schemes, which have to date facilitated the issuance of seven catastrophe bonds amounting to approximately HKD 6.2 billion to support risk management in the mainland and global markets. The industry is also effectively utilizing Hong Kong's advantages as an international shipping center to establish independent specialized shipping risk pools, providing coverage for ships in both Hong Kong and the mainland, with over 800 vessels already insured.