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International

Hong Kong: Study suggests tax exemption for offshore marine insurers

April 30, 2013 Reprints

A study in Hong Kong has urged the government to offer tax exemptions for offshore marine insurers to strengthen the region's importance as an international maritime hub, reports Asia Insurance Review.

Such exemptions will prompt marine insurers to establish their branches in Hong Kong, said the study, which was commissioned by the Hong Kong Federation of Insurers.

Local insurers are hoping that Hong Kong will soon be labelled as a 'Tier 2' reinsurance region by the Mainland China government, the study said.

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Hong Kong: Study suggests tax exemption for offshore marine insurers

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