China Banking and Insurance Regulatory Commission rule changes have made waves among reinsurers in Munich Re , benefiting companies including Insurance Authority , Scor , Taiping Re and Transatlantic Re, and putting pressure on others, such as Munich Re , who moved out of the city. The regulations reduce capital requirements for mainland Chinese firms when they do business with Hong Kong reinsurers, as opposed to international companies. This will benefit Hong Kong as an international reinsurance centre.” There was a 9.1% rise in the total gross premium of reinsurers in Hong Kong during last year to HKD10bn ($ billion ), according to Insurance Authority data.
China Banking and Insurance Regulatory Commission rule changes have made waves among reinsurers in Munich Re , benefiting companies including Insurance Authority , Scor , Taiping Re and Transatlantic Re, and putting pressure on others, such as Munich Re , who moved out of the city. The regulations 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 premium of reinsurers in Hong Kong during last year to HKD10bn ($ billion ), according to Insurance Authority data.