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Exclusive | Chubb CEO Greenberg says Hong Kong can boost insurance hub credentials by ‘limiting bureaucracy’ in Greater Bay Area
- Greater Bay Area will potentially make Hong Kong more attractive for international insurers, if the government can ‘limit bureaucracy’, Chubb CEO Greenberg says
- Chubb in November gained approval to increase its stake in China’s Huatai Insurance Group to 83.2 per cent
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Hong Kong can attract a lot more insurance companies if the government provides a stable business environment and “limits bureaucracy” in the Greater Bay Area, according to Evan Greenberg, chairman and CEO of Chubb.
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“Business is attracted to an environment of certainty,” Greenberg said in an exclusive interview with the Post during a recent visit to the city.
If Hong Kong can offer more “certainty, predictability and transparency”, companies will have more confidence and increase their presence here, he added.
Chubb is the world’s largest publicly traded property and casualty insurance company, with operations in 54 markets and 40,000 staff globally. It has also grown its presence in mainland China over the last two years.
Hong Kong’s Chief Executive John Lee Ka-chiu in December unveiled a road map to promote the city and make it an insurance hub in Asia. He said the government will develop more measures to allow Hong Kong-based insurers to tap business opportunities in the Greater Bay Area and from the Belt and Road Initiative.
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