--- title: "The Peninsula’s owner and SF Holding set up captive insurers in Hong Kong" type: "News" locale: "en" url: "https://longbridge.com/en/news/292138042.md" description: "Hong Kong's Insurance Authority has licensed captive insurers for The Peninsula owner and SF Holding, bringing the city's total to nine. This move supports Hong Kong's strategy to become a leading risk management centre, aided by tax incentives. The new entities aim to enhance corporate risk management and retain profits, reflecting growing interest from large enterprises in establishing local captive insurance operations." datetime: "2026-07-09T02:37:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292138042.md) - [en](https://longbridge.com/en/news/292138042.md) - [zh-HK](https://longbridge.com/zh-HK/news/292138042.md) generator: "portal-rs" --- # The Peninsula’s owner and SF Holding set up captive insurers in Hong Kong The owners of luxury hotel brand The Peninsula and logistics firm SF Holding have gained approval from Hong Kong’s insurance regulator to set up captive insurers, marking the latest step in the city’s drive to develop into a risk management centre. Hong Kong’s Insurance Authority (IA) said on Wednesday that it had granted a licence to HSH Captive, established by The Hongkong and Shanghai Hotels, which owns the Peninsula hotel chain and the popular Peak Tram tourist attraction. It also granted a licence to SF Captive, set up by Shenzhen-headquartered SF Holding, bringing the total number of captive insurers in the city to nine. A parent company sets up a captive insurer to provide insurance ­protection for all firms within the group. This helps manage risks more effectively and retain profits that would otherwise go to an external company. “\[The\] arrival of the two captive insurers bears testimony to the successful execution of our strategy of developing Hong Kong into a leading risk management centre,” said Clement Cheung Wan-ching, CEO of IA. The Hongkong and Shanghai Hotels’ unit would also be the city’s first captive insurer to underwrite property damage and business interruption risks. The hotel group’s CEO, Benjamin Vuchot, said the move marked an important step in strengthening the company’s position as a leading luxury hospitality and lifestyle brand. “It enhances our risk management capabilities and takes our company to the next level in supporting our long-term growth,” Vuchot said in a statement on Wednesday. “As a Hong Kong-based company with over 160 years of heritage, we are proud to contribute to the city’s development as a global risk management centre.” This would be a good way for Hong Kong to develop as a risk management centre Tom Chan Pak-lam, Institute of Securities Dealers The Hong Kong government has in recent years offered tax incentives to encourage more large companies to establish captive insurers in the city, including a 50 per cent reduction in the profits tax rate for such businesses. The measures have helped attract three new captive insurers so far this year, following the establishment of two in 2025. “The gradual expansion of the captive insurance market in Hong Kong will further strengthen the city’s position as a leading insurance and risk management hub in Asia, enabling enterprises to manage their risks more effectively while supporting the sustainable growth of the economy,” said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu. “The government and the IA will continue to reach out to Hong Kong, mainland and international enterprises with the potential to establish captive insurers, with a view to further expanding the local captive ecosystem.” Hong Kong should be able to continue attracting more large corporations to set up captive insurance companies, according to Tom Chan Pak-lam, honorary president of the Institute of Securities Dealers. “After the Hong Kong government introduced the tax incentives and carried out a lot of promotion, we have seen a total of five new captive insurers set up from different industries,” Chan said. “This shows the city is able to attract a diversified group of large companies to set up captive insurers here. This would be a good way for Hong Kong to develop as a risk management centre.” ### Related Stocks - [00045.HK](https://longbridge.com/en/quote/00045.HK.md) - [002352.CN](https://longbridge.com/en/quote/002352.CN.md) - [06936.HK](https://longbridge.com/en/quote/06936.HK.md) ## Related News & Research - [S.F. Holding unit subscribes for RMB 133 million Hive Box Class A shares](https://longbridge.com/en/news/296798866.md) - [S.F. 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