AXA to re-domicile China business to Hong Kong
Global insurer AXA has unveiled plans to re-domicile its China business to Hong Kong to simplify reporting and compliance processes.
As per the plans, AXA Hong Kong and Macau will re-domicile AXA China Region Insurance Company (Bermuda) Limited (ACRIB) from Bermuda to Hong Kong.
The move follows the new company re-domiciliation regime of the Hong Kong Special Administrative Region Government and awaits regulatory consent.
The proposed re-domiciliation will not affect ACRIB's legal entity, organisational structure, or daily functions.
Policyholders, distributors, and business partners will retain their current rights and obligations, with existing agreements remaining intact.
Following the re-domiciliation, it is proposed that ACRIB will adopt a new name, AXA China Region Insurance Company (Hong Kong) Limited, signifying its operational base in Hong Kong.
The move is intended to enhance AXA's operational efficiency and support Hong Kong's status as a international financial centre, by aligning the company's registration with its geographical presence.
AXA Greater China CEO Sally Wan said: "We are excited to be among the first to re-domicile to Hong Kong. This move is not merely administrative; it is a significant step forward in deepening our roots in Hong Kong and simplifying our reporting and compliance processes. I firmly believe it will provide strategic advantages that position us for long-term success in one of the world's most vibrant markets.
'By leveraging Hong Kong's robust financial ecosystem and its increasing importance as a regional insurance hub and a global risk management centre, we look forward to capturing the opportunities arising from the region and achieving greater success in the future.'
Last month, AXA Hong Kong and Macau partnered with Ant Bank and AlipayHK, enabling the provision of insurance products through the AlipayHK App.
" AXA to re-domicile China business to Hong Kong " was originally created and published by Life Insurance International, a GlobalData owned brand.
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