Hong Kong presses insurers to shift investment teams back from Singapore

Written by Adam Cadle

06/08/2025

Hong Kong regulators are pushing major life insurers to move investment decision-making functions back from Singapore, in the city’s latest efforts to compete with its neighbour financial hub.

According to Bloomberg, the initiative, led by the Insurance Authority, began in early 2024 and targets companies including AIA (1299).

Some insurers relocated their investment functions to Singapore in recent years, drawn by Singapore’s incentives including tax breaks, while continuing to sell policies primarily in Hong Kong.

Though the shift had been allowed by the HKIA, regulators have grown concerned about rising concentration risks among asset arrangement firms, amid intensified competitions with Singapore for talent and capital, sources said.

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