The push, led by the Hong Kong Insurance Authority (HKIA), started in early 2024 and is focusing on companies including AIA Group, the people said, requesting not to be named because the matter is private. The HKIA is a regulator independent of the government, according to its website.
Life insurers have become the latest target in Hong Kong’s efforts to compete with Singapore in retaining talent and capital.
Over the past year, Hong Kong’s insurance regulator has been steering some of the financial hub’s biggest life insurers to move investment decision-making functions back to the city following their relocation to Singapore, according to people familiar with the matter.
