AXA’s local unit becomes second insurer to redomicile from Bermuda to Hong Kong
At least three other local insurers, including local unit of Canada’s insurer Sun Life, are planning the same move, industry players say
French insurer AXA’s Hong Kong unit, one of the city’s largest life and general insurers, has become the second insurance company to move its domicile to Hong Kong from Bermuda, according to a statement on Monday.
“The redomiciliation underscores our strong confidence in Hong Kong’s strategic importance and growth potential, and reflects our unwavering commitment to serving customers with resilience and innovation,” said Sally Wan Yuen-wai, CEO of AXA Greater China.
“With this redomiciliation now complete, we are even better positioned to capitalise on Hong Kong’s vibrant momentum as Asia’s leading risk-management and insurance hub.”
“There’s clearly a high growing need for good quality healthcare and wealth planning solutions,” Wan said. “Opportunities in wealth protection and legacy planning for high-net-worth clients are also promising.”