Axa China unit to relocate from Bermuda to Hong Kong
May 29 - (The Insurer) - Axa has announced plans to relocate Axa China Region Insurance Company (Bermuda) to Hong Kong, the company said on Wednesday.
After the move, which is subject to regulatory approval, the unit will be renamed Axa China Region Insurance Company (Hong Kong).
Axa said the relocation will not impact the rights and obligations of policyholders, distributors or business partners. All existing agreements and commitments will continue to remain in effect.
Sally Wan, CEO of Axa Greater China, said this move marks a key step in strengthening the insurer’s presence in Hong Kong and streamlining its reporting and compliance processes.
“This move is not merely administrative; it is a significant step forward in deepening our roots in Hong Kong," Wan said.
The transition is expected to enhance operational efficiency, deliver long-term benefits to stakeholders and support Hong Kong’s status as a leading international financial centre, Axa said.
AM Best's senior director of analytics Christie Lee said the announcement was a "pivotal shift" that will "encourage other global insurers to follow suit and potentially increase competition and innovation within the local market".
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