Insurance Authority welcomes the issuance of catastrophe bond in Hong Kong covering perils in Mainland China and the United States

The Insurance Authority (IA) welcomed the issuance of a US$35 million catastrophe bond by Taiping Reinsurance via Silk Road Re Limited, providing protection against U.S. named storms and Mainland China earthquakes for three years starting 1 January 2025. This sixth insurance-linked security (ILS) issued in Hong Kong and the first tied to multiple perils underscores Hong Kong’s efforts to build a comprehensive ILS ecosystem. Since 2021, six ILS issuances under the city’s regulatory framework have totaled US$748 million.

Resources: https://www.ia.org.hk/en/infocenter/press_releases/20250102.html