The Hong Kong Insurance Authority (IA) has warned the public about three fraudulent websites impersonating established insurance companies and urged vigilance against potential scams.
AXA confirmed it has no affiliation with the company “Anshou Financial Services Ltd” or its website “https[:]//www[.]aswm[.]pro.”
Similarly, AIA stated that it is not linked to the other two fraudulent domains.
The IA has referred these cases to the Hong Kong Police Force for further investigation.
Individuals who provided personal details or conducted transactions on these sites are advised to contact AXA’s hotline at (852) 2802-2812 or AIA’s customer service at (852) 2232-8888. Affected parties should also report the incidents to local law enforcement.
The IA emphasised the importance of verifying insurance providers through the Register of Authorized Insurers, which is available on its official website.
Despite challenges, Hong Kong’s insurance sector has shown strong growth, reinforcing the city’s position as a leading financial hub in the Asia-Pacific region.
Citing data from Swiss Re’s World Insurance 2023 Sigma Report, IA chairman Stephen Yiu highlighted Hong Kong’s rank as the 16th largest insurance market globally. Total premiums in 2023 reached $550 billion, reflecting a high penetration rate and robust density of insurance coverage.
The city’s strategic integration into China’s Greater Bay Area (GBA) and its “One Country, Two Systems” governance framework have further strengthened its role as a bridge between Mainland China and international markets.
A key factor in Hong Kong’s market development is the forthcoming implementation of the Risk-Based Capital (RBC) regime. This regulatory system will align Hong Kong with global standards by requiring insurers to maintain capital reserves tailored to their specific risk exposures.
Yiu noted that the RBC framework’s final phase will introduce new public disclosure requirements, enhancing transparency across the industry. The IA also plans to balance regulatory demands with incentives to encourage insurers to grow their operations in Hong Kong.
To attract more international players, the IA is refining its group-wide supervision framework. Currently, three of the nine Internationally Active Insurance Groups (IAIGs) in the Asia-Pacific region are headquartered in Hong Kong, with efforts underway to bring additional insurers to the city.
