The Hong Kong Insurance Authority has officially authorised CNNC Captive Insurance Limited, marking the first captive insurance company to receive approval in the city for 2026.
Founded by the China National Nuclear Corporation, CNNC Captive Insurance Limited represents a strategic move to enhance enterprise risk management capabilities within the energy and industrial sectors. With this latest addition, the total number of captive insurers domiciled in Hong Kong now stands at seven.
Clement Cheung, Chief Executive Officer of the Insurance Authority, welcomed the development, stating:
“Captives have already become a major component of enterprise risk management for global business corporations. We are encouraged by the formation of CNNC Captive Insurance Limited and will actively pursue potential opportunities in the Chinese Mainland as well as other parts of Asia, demonstrating to stakeholders the unique value proposition of Hong Kong.”
Captive insurance—insurance owned and controlled by the insured itself—is increasingly viewed as a sophisticated tool for multinationals seeking to manage complex risks efficiently. Hong Kong’s strategic position as a financial hub, coupled with a well-regulated insurance framework, continues to attract multinational corporations looking to establish captives in the Asia-Pacific region.
The IA emphasised that it intends to continue promoting Hong Kong as a preferred domicile for captives, leveraging both regulatory transparency and strong connectivity with the Chinese Mainland and wider Asian markets.
Captive Insurance Landscape in Hong Kong
| Year | Number of Captive Insurers | Notable Additions | Key Industries Served |
|---|---|---|---|
| 2020 | 5 | – | Energy, Shipping |
| 2021 | 5 | – | Energy, Shipping |
| 2022 | 6 | New entrant | Manufacturing |
| 2023 | 6 | – | Manufacturing |
| 2024 | 6 | – | Technology |
| 2025 | 6 | – | Technology |
| 2026 | 7 | CNNC Captive Insurance Limited | Nuclear, Energy, Industrial |
Industry analysts suggest that the expansion of captives in Hong Kong reflects growing confidence among multinational enterprises in the city’s regulatory and commercial environment. As global businesses increasingly face volatile risks—from geopolitical uncertainty to climate-related events—captive insurers offer a tailored and cost-effective solution for risk retention and mitigation.
The IA’s continued focus on promoting Hong Kong as an international centre for captive insurance is expected to support further growth, positioning the city as a leading hub for enterprise risk management in Asia.
