Hong Kong reinsurance market dominated by international companies

Press Release   •   Aug 30, 2012 16:19 BST

The Hong Kong reinsurance market is dominated by international reinsurance companies. Notably, Hong Kong and other offshore markets in the APAC region such as Mainland China, Taiwan and Japan are highly vulnerable to natural disasters.

Local insurance companies have insufficient financial resources to protect against risks such as earthquakes and therefore cede the majority of their risk to reinsurers.

This increases the number of business opportunities for reinsurance companies operating in Hong Kong. A number of leading international reinsurance companies such as Munich Re, Swiss Re, Hannover Rueckversicherung, Scor, PartnerRe and Transatlantic Reinsurance Company have set up business operations in Hong Kong.

The popularity of Hong Kong as a reinsurance hub and the anticipated growth of the Hong Kong life, non-life, and personal accident and health insurance segments are expected to drive the growth of the Hong Kong reinsurance segment over the forecast period (2012-2016)

Key players within the Hong Kong reinsurance market include companies such as Taiping Reinsurance Company Limited, Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft, Swiss Re, Asia Capital Reinsurance Group Pte Ltd, BC Reinsurance Limited, Transatlantic Reinsurance Company, SCOR Reinsurance Co, Hannover Rückversicherung AG, Berkley Insurance Company, and Toa Reinsurance Company.

For more information on the Hong Kong reinsurance market, see the latest research: Hong Kong Reinsurance Market Report

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