March 6, 2009 – Participants in the Self-Insurance Institute of America, Inc (SIIA) upcoming Tour of China will be able to hear first hand how Hong Kong may be positioning itself as a major captive insurance domicile and what business opportunities this may create for captive industry service providers.

 

According to recent study conducted by BPF (who is this?) concluded that Hong Kong’s development as the captive domicile of choice to mainland companies going international will bring benefit to both the Mainland and Hong Kong. By becoming a captive domicile, Hong Kong will strengthen its reputation as a regional reinsurance and risk management. Moreover, Mainland enterprises using Hong Kong as a captive domicile can be further encouraged to make full use of Hong Kong’s international financial and legal services while retaining this sector within the Chinese economy.

 

In related news, a delegation of senior management from a major Chinese insurance company recently visited Guensey, an established captive domicile, to assess the viability of establishing a captive there. Accompanying the Chinese delegation were representatives from a leading London-based insurance broker that is heavily involved in the global alternative risk marketplace.

 

“This recent activity clearly shows that the Chinese have a keen interest in learning more about captive insurance and how the country can import expertise from the United States on other international business hubs,” said SIIA President Armando Baez. “For those U.S.-based captive insurance service providers who may be interested in exploring business opportunities in China, out tour will provide a truly unique opportunity.”

 

The tour is scheduled for May 30-June 6, 2009. Complete event information can be accessed on-line at www.siia.org. There are only 10 spaces remaining, so interested person are encouraged to sign up right away.