Insurance Authority launches platform to help insurers tap belt and road projects
- Platform will ‘promote exchange of intelligence, forge alliances and facilitate networking,’ Insurance Authority says
- Mainland Chinese, Hong Kong and foreign enterprises involved or related the insurance industry are encouraged to join
The Hong Kong Insurance Authority has launched a platform to help Hong Kong and international insurance companies capture business opportunities arising from “Belt and Road Initiative” projects, including coverage ranging from political risk to terrorism.
“The BRIEF is a platform to provide information and offer other assistance to allow insurance companies to make deals with bankers, project managers and all those involved in the belt and road initiatives about all types of insurance risk for these infrastructure projects,” Cheng said. “We have 29 insurers signed up to the BRIEF. I hope more of you here join so that the aspiration of BRIEF can be turned into your opportunity.”
Belt and road initiatives, also known as the New Silk Road, is a Beijing-led project to encourage 65 countries from Asia, Europe, Africa, and the Middle East to build ports, railways, roads, power plants and other infrastructure to promote economic growth and trade.
“The insurance demand for these belt and road projects are huge. We would like the new platform to attract more insurers to use Hong Kong as a hub to arrange these giant infrastructure insurance deals,” Cheng said.