Insurance

New capital regime set to shake up Hong Kong insurers

Hong Kong's looming risk-based capital regime is set to pose an even bigger investment challenge for local insurance firms than Solvency II has done in Europe.
Turbulent times for the city's insurance industry
Turbulent times for the city's insurance industry

Insurance firms in Hong Kong will probably have to make major changes to their investment portfolios if they are to maintain solid solvency ratios under looming risk-based capital RBC rules.

And the territory's insurers could face an even bigger challenge to do so than their European peers faced under the Solvency II regime.

Hong Kong's Insurance Authority is testing the impact of its proposed RBC regime modelled initially on Europe's Solvency II regime and slated to go live in 2022 via proposals on insurers through quantitative impact studies QIS. The third and final study QIS 3 is expected to be finalised next month. 

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