The Hong Kong Insurance Authority (IA) hosted a panel discussion at the Asian Financial Forum on Jan. 26, titled “Charting Future Seas: Hong Kong’s Maritime Prospects for Insurance,” where experts from insurance and professional services outlined Hong Kong’s position, challenges, and strategic considerations in an evolving marine insurance landscape. The session examined how underwriting, talent development, and market infrastructure relate to the city’s role as a maritime and financial centre.
Moderating the panel, Clement Lau, executive director for policy and legislation at the IA, said marine insurance remains embedded in Hong Kong’s broader market function. “Marine insurance underpins Hong Kong’s strategic positioning as an international financial, shipping, and trade centre. Against a backdrop of an increasingly complex and shifting global trade landscape, the development of Hong Kong’s marine insurance sector calls for a more strategic and forward looking approach,” Lau said.
Panellists pointed to three main areas influencing the next phase of marine insurance activity related to Hong Kong: talent, technology, and coordination within the maritime services ecosystem. On talent, speakers cited the need for a steady flow of professionals with technical skills across cargo, hull, liability, and emerging marine risks. They noted that changes in trade routes, contract structures, and geopolitical factors are affecting risk profiles and raising technical requirements for underwriters, brokers, claims teams, and advisers. On technology, the panel examined how developments such as vessel automation, digital documentation, remote monitoring, and data analytics are affecting marine risk assessment and day-to-day operations. Participants said insurers and intermediaries are being required to revisit pricing assumptions, integrate additional data sources, and adjust claims processes to reflect more data-driven shipping and logistics environments.
On market linkages, participants discussed how marine insurance interacts with Hong Kong’s wider maritime cluster, including shipowners, brokers, legal and arbitration services, surveyors, financiers, and technical consultants. They indicated that the way these segments coordinate can influence the handling of complex incidents, regulatory changes, and cross-border disputes, as well as how regional business is managed. Lau said existing policy measures and recent sector developments form part of the current approach to marine insurance. “Building on the targeted policy support already in place to promote marine insurance, together with encouraging recent developments that injected impetus, we look forward to seeing more coordinated and collaborative efforts among stakeholders to drive our marine insurance sector to grow from strength to strength, and to more fully manifest its functions in the national dual circulation strategy,” Lau said.
The panel took place after a memorandum of understanding was signed on Nov. 18, 2025, between the International Union of Marine Insurance (IUMI) and the Hong Kong Maritime Port Development Board (HKMPDB). The agreement establishes a framework for marine insurance education and professional development across Asia amid rising demand for practitioners with specialised skills. Implementation of the agreement will be led by the Hong Kong Federation of Insurers (HKFI), which acts as IUMI’s regional representative in Asia. Under the memorandum, the parties plan to develop a workforce that can support international marine insurance operations, incorporate IUMI’s training materials into local professional development programmes, and organise education-focused initiatives at regional maritime conferences.
Under the arrangement, IUMI’s training modules, including content on cargo and hull insurance, will be made available to practitioners in Hong Kong. The initiative is intended to provide structured training options for insurance professionals at different career stages and to help align technical knowledge across regional markets. Selina Lau, chief executive of the HKFI, said the collaboration is intended to widen access to specialist content. “The HKFI is pleased to facilitate the collaboration between these two esteemed organisations to enhance education and talent development in the continuously evolving marine insurance sector in Hong Kong. With the strong backing of the HKMPDB, the Hong Kong marine insurance sector will leverage IUMI’s extensive capacity-building resources developed over the years, effectively enabling broader marine insurance education,” Lau said.
Hong Kong’s government has linked the education partnership to broader work on maritime services and international engagement. On the day the memorandum was signed, Mable Chan, secretary for transport and logistics, met with IUMI president Frédéric Denèfle and secretary general Lars Lange, alongside HKMPDB chairman Dr. Moses Cheng and Lau. Chan outlined the administration’s interaction with international industry bodies. “The HKSAR government attaches great importance to maintaining close ties with the global maritime industry and actively participates in meetings and exchange activities of the IUMI to keep abreast of the latest developments in the global shipping and marine insurance fields,” Chan said.
IUMI established its first Asian operational presence in Hong Kong in 2016, using the city as a base for regional coordination and professional standards work. The city also hosts operational representation from 11 of the 12 member associations of the International Group of Protection and Indemnity Clubs, reflecting the volume of liability and protection business in the local market. Alongside these institutional initiatives, the Maritime Services Traineeship Scheme for Marine Insurance, funded by the Maritime and Aviation Training Fund, links insurance companies with individuals pursuing careers in marine insurance and provides work-based training placements. For insurance professionals across Asia, the combination of regulatory engagement, education partnerships, and workforce schemes discussed at the panel outlines how Hong Kong is structuring marine insurance development within its wider maritime and financial services framework. Market participants are assessing how these measures may influence talent pipelines, product design, and cross-border collaboration as shipping risks and trade patterns continue to change.
