UK’s Amiga Specialty has entered the Hong Kong market after securing authorisation from the Insurance Authority (IA) and will begin writing financial lines business across Asia-Pacific.
The new Hong Kong operation will focus on financial lines classes, including cyber, crime, directors and officers liability, professional liability, and transaction-related insurance. The business is led by Ralph Sherbahn, managing director of financial lines, Asia-Pacific, who joined Amiga when the firm launched in 2025. Amiga has arranged a binder with XL Insurance Company SE, providing capacity to start underwriting financial lines risks placed out of Hong Kong and, in time, other Asia-Pacific markets.
The Hong Kong build-out follows Amiga’s European launch in mid-2025 and represents its first office in the region. Amiga CEO and founder Adam Kembrooke said the regulatory approval is a key development in the firm’s Asia-Pacific plans. “Gaining regulatory approval is a huge milestone for our APAC business, and I am delighted we have secured the permissions to trade from the rigorous Hong Kong regulator. This marks the latest step as Amiga grows and develops a global presence,” Kembrooke said.
In the early phase, Amiga plans to concentrate on North Asian markets before extending its reach to additional Asia-Pacific territories and broadening its product set. Sherbahn said the firm intends to deploy its capacity across a range of financial lines segments aligned with regional demand. “The real works begins now. I can’t wait to offer the Amiga products to the Asian market. We already have capacity in place to focus on a broad array of Financial Lines products, but with a directed view within its area of expertise to build out new and innovative products in a rapidly evolving tech and financial services focused economy,” Sherbahn said. He said Amiga will add to its local team and deepen relationships with intermediaries in Hong Kong as the portfolio develops. “We are looking forward to growing our partnerships and expanding the team in Hong Kong. Financial lines in Asia is a huge opportunity and Amiga is ready to capitalise on that,” he added.
According to Sherbahn, the Amiga name, which he said means “friend” in Latin, is intended to reflect the firm’s positioning as a technology-focused MGA with artificial intelligence integrated into its operations and branding. “Modern intelligent automation platforms integrate AI, orchestration, and deep insurance expertise, enabling MGAs to make real-time decisions, streamline operations, and enhance efficiency across the insurance value chain. We’re fortunate to have launched amid a time of such fundamental transformation and excited to be able to leverage the nimbleness and agility these new technologies afford MGAs such as Amiga,” he said. Amiga Specialty, headquartered in London, was established in June 2025 as an independent international MGA underwriting specialty lines for large corporate buyers. It is backed by B.P. Marsh, a publicly listed investment company with experience in the insurance sector.
Amiga’s regulatory approval comes as the Hong Kong insurance market reports higher premium volumes. On Jan. 23, 2026, the IA released provisional statistics for the first three quarters of 2025, showing total gross premiums of HK$637 billion, an increase of 32.5% year on year. In long-term business, new office premiums excluding retirement scheme business reached HK$264.5 billion, up 55.9%. Non-linked individual business contributed HK$251.5 billion, a rise of 55.2%, including participating business of HK$226.3 billion, up 60.1%, and other non-linked business of HK$25.2 billion, up 22.1%. Linked individual business amounted to HK$12.7 billion, an increase of 75.7%. Around 50,000 Qualifying Deferred Annuity Policies generated HK$3.2 billion, representing 1.2% of total individual business premiums.
Total revenue premiums of in-force long term business were HK$554.1 billion, up 36.6%. Claims and benefits paid reached HK$279.4 billion, up 3.4%. As of Sept. 30, 2025, long-term insurance assets totalled HK$5,284.1 billion, with net assets of HK$731.7 billion. In general business, gross premiums for the first three quarters of 2025 were HK$82.9 billion, an increase of 10.5%, and net premiums HK$56 billion, up 8.3%. Gross claims paid were HK$38 billion, a decrease of 0.9%. Overall operating profit was HK$10.1 billion, up 50.5%, including underwriting profit of HK$3.5 billion, an increase of 63%.
Direct business generated gross premiums of HK$44.2 billion, up 11.9%, and net premiums of HK$30.4 billion, up 9.1%. Onshore accident and health business provided HK$19.4 billion of gross premiums, up 11.3%, and contributed to direct underwriting profit of HK$3.2 billion, up 29.9%, with that line moving from a loss of HK$0.4 billion to a profit of HK$0.5 billion. For reinsurance inward business, gross premiums reached HK$38.7 billion, up 9%, and net premiums HK$25.6 billion, up 7.3%. Gross claims paid were HK$17.1 billion, down 8.2%. Premium growth was driven largely by offshore property damage and motor vehicle business, while an overall underwriting profit of HK$0.3 billion was supported by reserve releases in offshore property damage. Total general business assets stood at HK$335.5 billion, with net assets of HK$135.1 billion as of Sept. 30, 2025.
