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HSBC starts a captive insurer in Hong Kong to reinsure benefits for its 26,000 employees in Asia-Pacific.
HSBC has been granted approval to set up a captive insurer, Wayfoong (Asia), in Hong Kong, aiming to reinsure employee benefits for its 26,000 employees in Hong Kong and other Asia-Pacific markets.
This move underscores HSBC's commitment to the region and leverages Hong Kong's tax benefits for local captive insurers, positioning the city as a key risk management hub.
The new entity began operations on May 1, 2025.
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HSBC comienza una aseguradora cautiva en Hong Kong para reasegurar beneficios para sus 26.000 empleados en Asia-Pacífico.