Hong Kong launches war risks pool to curb over-reliance on Western insurance
- Hong Kong has launched a Marine War Risks Insurance Pool to offer local cover for Asian shipowners
- The scheme aims to provide an alternative to Western markets amid Red Sea, Russia–Ukraine risks and US–China decoupling
- Backed by Hong Kong and Mainland Chinese insurers, it offers up to HK$1bn per policy, with plans to double overall capacity
New Hong Kong war risks pool marks a bid to pull greater pricing power, underwriting expertise and geopolitical risk management for Asian shipping back to the region itself
