Hong Kong Launches Marine Specialty Risks Insurance Pool to Enhance Regional Maritime Risk Management

[Hong Kong, 17 November 2025]

Hong Kong today announced the official launch of a Marine Specialty Risks Insurance Pool, a landmark initiative to provide stable risk coverage for the Asian shipping industry by consolidating local underwriting capacity, further strengthening the city's position as an international shipping and financial hub.

The initiative aligns with the policy direction set out by the Chief Executive of the Hong Kong SAR, John Lee, in the 2025 Policy Address to "establish a dedicated marine risk pool". By creating a localized risk transfer mechanism, the pool will build up insurance capacities from local market, retain more risk premiums in Hong Kong, and foster the development of a comprehensive marine insurance ecosystem.

Hong Kong is the world's fourth-largest ship registry, and Hong Kong together with the Mainland shipowners control the largest fleet globally. The establishment of the pool will enable Hong Kong to better serve local, Mainland Chinese, and Asian shipping clients, strengthening its role in maritime risk management.

The pool, named as the Hong Kong Marine War Risks Insurance Pool, was proposed by Legislative Council Member Honourable CHAN Pui-leung and developed in collaboration with Alliance Risk Transfer Limited as its manager. Founding participants include multiple local insurers such as China Taiping Insurance (HK), PICC (Hong Kong)*, CMB Wing Lung Insurance*, China Pacific Insurance (HK) and Asia Insurance.

To ensure operational transparency and professionalism, the pool will establish an Advisory Committee comprising shipowners, regulators, insurance organizations, security consultants, and other stakeholders to review risk strategies and optimize the governance framework.

The pool focuses on providing marine war risk insurance, covering vessel loss or damage caused by acts of war, piracy, terrorist attacks, and related geopolitical incidents. The coverage limit per policy is up to HKD 1 billion, extending to vessels operating in Greater China and Asia.

The Hong Kong Insurance Authority (HKIA) welcomes the initiative, noting that the pool will open up new business opportunities for the market and bolster the city's resilience against contingencies.

The establishment of the pool is seen as a key step in Hong Kong's efforts to build a comprehensive maritime services supply chain. By providing a localized and sustainable war risk solution, Hong Kong will further align itself with opportunities arising from the Belt and Road Initiative, supporting the steady growth of Asia's shipping industry.

Media enquiries, please contact:

Mr. Jun Yan

Email: jun.yan@arisktransfer.com

About Hong Kong Marine War Risks Insurance Pool Launched through a collaboration of leading Hong Kong insurers, the pool aims to build a localized insurance mechanism specializing in war risks, enhancing Hong Kong's influence in the international marine insurance market. The founding members of the pool include:

China Taiping Insurance (HK) Company Limited

The People's Insurance Company of China (Hong Kong) Limited*

CMB Wing Lung Insurance Company Limited*

China Pacific Insurance Co.,(H.K.) Ltd.

Asia Insurance Company Limited

*subject to regulatory approval