On 8 July, the Hong Kong Insurance Authority announced that it had authorised HSH Captive Limited, established by Hongkong and Shanghai Hotels Limited, and SF Insurance Company Limited, established by SF Holding Company Limited. The total number of dedicated captive insurers established in Hong Kong has risen to nine.

Since the start of 2026 the Insurance Authority has authorised three new captives, including SF Insurance. Hong Kong aims to become the captive hub of Asia, driving demand for related professional services and attracting reinsurance business from around the world, according to information obtained by Beijing Business Today from the Authority. Provisional statistics for 2025 put gross captive premiums in Hong Kong at HK$2.13 billion. The nine captives now cover six sectors: energy, manufacturing, automotive, financial services, hotels and logistics.

Among the authorised captives in Hong Kong, SF Insurance Company Limited is the only private enterprise. Apart from HSH Captive Limited and Wayfoong (Asia) Limited, a wholly owned subsidiary of HSBC Group, which are multinationals, six captives including CNNC Insurance, Shanghai Electric Insurance and CGN Insurance are state-owned enterprises.

Clement Cheung, Chief Executive Officer of the Hong Kong Insurance Authority, said: "The addition of two more captives confirms the successful implementation of our strategy of focusing on local multinational enterprises, and state-owned and private enterprises in mainland China, in building Hong Kong into a leading risk management centre. The new market participants bring additional business and diversified operating models, and will make an important contribution to nurturing a mature captive ecosystem in Hong Kong."