HSBC’s Wayfoong becomes Hong Kong first captive insurer formed by a multinational enterprise


HSBC Group has received approval from the Insurance Authority (IA) to set up a captive insurance company, Wayfoong (Asia) Limited, in Hong Kong, which has become the first captive insurer established in the city by a multinational enterprise. A captive insurer is designed primarily to cope with the multifarious perils borne by large business corporations with […]

AM Best maintains stable outlook for Chile’s insurance industry amid regulatory advancements


AM Best, the credit rating agency, has reaffirmed its stable outlook for Chile’s insurance market, attributing its assessment to continued growth in premiums, consistent profitability, and a more robust regulatory framework. These findings are detailed in the company’s latest market segment analysis, “Market Segment Outlook: Chile Insurance.” According to the report, insurance penetration in Chile […]