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French insurer AXA's Hong Kong unit, one of the city's largest life and general insurers, has become the second insurance company to move its domicile to Hong Kong from Bermuda, according to a statement on Monday.
At least three other local insurers, including the local unit of Canada's Sun Life, were planning the same move after a law change in May simplified the process, according to industry players.
AXA was the first to begin the process after the rule change, but Manulife International was......
Manulife (International), the biggest pension provider in the city, plans to redomicile to Hong Kong from Bermuda in November, indicating its confidence in the city as an international financial centre, according to a notice it sent to customers on Friday.
This makes Manulife (International), the Hong Kong and Macau unit of Toronto-headquartered Manulife Financial, the second insurer to incorporate in Hong Kong after a new “game changer” law easing the redomiciliation process came into effect on......