China Banking and Insurance Reform Commission rule changes have caused waves among reinsurers in Hong Kong , benefiting companies including Peak Re , Scor , Munich Re and Transatlantic Re , and putting pressure on others , such as Munich Re , who moved out of the city . The changes reduce capital requirements for mainland Chinese firms when they do business with Hong Kong reinsurers , as opposed to international companies . One of the reasons for the strong increase was a rule change from the China Banking and Insurance Regulatory Commission (CBIRC) which said that when a mainland insurer does business with any Hong Kong reinsurer, the capital requirement for that mainland firm is lower than if it had reinsured through an international company. There was a 9.1 % rise in the total gross income of reinsurers in Hong Kong during the first nine months of 2018 to HKD10bn ( $ 12 ) , according to Insurance Authority data .
China Banking and Insurance Reform Commission rule changes have caused waves among reinsurers in Hong Kong , benefiting companies including Peak Re , Scor , Munich Re and Transatlantic Re , and putting pressure on others , such as Munich Re , who moved out of the city . The changes reduce capital requirements for mainland Chinese firms when they do business with Hong Kong reinsurers , as opposed to international companies . There was a 9.1 % rise in the total gross income of reinsurers in Hong Kong during the first nine months of 2018 to HKD10bn ( $ 12 ) , according to Insurance Authority data .