Speech by SFST at Hong Kong Federation of Insurers Cocktail Party 2026: A Grateful Beginning in Unity
Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Hong Kong Federation of Insurers (HKFI) Cocktail Party 2026: A Grateful Beginning in Unity today (January 16):
Ellick (Chairman of the HKFI, Mr Ellick Tsui), distinguished guests, ladies and gentlemen, and fellow colleagues in the insurance sector,
Good evening. As we gather here tonight at the HKFI Cocktail Party 2026, I would like to begin by wishing each of you a happy, healthy, and prosperous New Year. May 2026 bring you renewed energy, meaningful achievements, and continued success in all that you do.
Tonight's theme, "A Grateful Beginning in Unity", captures the spirit of collaboration and shared purpose that has always defined our industry. Hong Kong remains one of the world's most open and dynamic insurance centres. We are currently home to around 160 authorised insurers, which 95 incorporated locally, with 65 from the Mainland and over 20 overseas jurisdictions. Remarkably, six of the world's top 10 insurers are authorised to operate here. This strong international presence reaffirms Hong Kong's position as a premier hub for insurance and risk management.
Supported by the National 14th Five-Year Plan, we are actively strengthening our roles as an international financial centre and a global risk management centre within the "dual circulation" framework. As a "super connector" and "super value-adder", Hong Kong serves as a vital two-way bridge on helping Mainland enterprises go global while attracting overseas firms to establish and grow their presence here.
I'm delighted to share some exciting recent developments. Hong Kong now hosts six captive insurers, with two new ones established last year alone. This steady growth highlights the strong and sustained appeal of our city for captive solutions. We will continue to proactively invite Mainland and international enterprises to set up captives here, further enhancing our risk management ecosystem.
Another significant milestone came in November last year with the establishment of an independent, commercial marine specialty risk pool. From early 2026, this pool will provide dedicated coverage for Hong Kong and Mainland vessels. It strengthens contingency protection for shipowners, unlocks new business opportunities under the Belt and Road Initiative, drives growth in our maritime and insurance sectors, and solidifies Hong Kong's status as a leading international financial and shipping centre.
Ladies and gentlemen, these achievements are the fruit of our collective dedication and unity.
Before I close, I must express my deep appreciation for the industry's outstanding response to the recent tragic Tai Po fire incident. All of you acted swiftly, activating claims processes and relief measures without delay, so that every affected family received timely and comprehensive support. Your actions not only eased immense hardship but also powerfully demonstrated the professionalism, solidarity, and profound social responsibility that define our sector.
As we look to the year ahead, let us build on this grateful beginning: continuing to innovate, serve our community, and elevate Hong Kong as Asia's and the world's premier insurance and risk management hub.
I wish you all a wonderful evening filled with meaningful connections and renewed inspiration. Thank you.
Mr Christopher Hui, the Secretary for Financial Services and the Treasury, Photo source: news.gov.hk
