Skip to content
IA’s Service Portals > Belt and Road Insurance Exchange Facilitation (BRIEF) > IFFO and IA showcase the strategic roles of insurance and guarantee in project risk management

IFFO and IA showcase the strategic roles of insurance and guarantee in project risk management

26 March 2019


The HKMA Infrastructure Financing Facilitation Office (IFFO) and the Insurance Authority (IA) co-organised a seminar today (26 March 2019) on the strategic roles of insurance and guarantee in project risk management. The seminar attracted over 80 senior representatives comprising largely IFFO partners such as export credit agencies, financiers, investors, multilateral financial agencies and project owners, as well as members from IA’s Belt and Road Insurance Exchange Facilitation (BRIEF) specialised in risk management including insurers, reinsurers, captive insurers and insurance brokers.

The one-day seminar covered infrastructure case studies featuring viewpoints of both insurers and the insured on political and commercial risk insurances. Seasoned speakers elaborated on their key strengths and advantageous propositions in political risk insurance and guarantee. Various risk management experts from the Hong Kong insurance industry illustrated how insurance brokers and insurers customised insurance solutions to address the corresponding risk management needs during the project planning, construction and operation phases.

At the seminar, attendees were also illustrated with case studies of infrastructure projects in emerging economies that involved both public and private entities of different nationalities, with a view to bringing out the importance of risk management in facilitating project investment and financing in the region.

“Investing and financing complex projects in emerging markets involve a multitude of specialty risks,” said Mr Raymond Tam, Executive Director of the Policy and Development Division of the IA. “Insurance industry can offer solutions to address these risks, not only by granting of loss payments but sharing of technical knowhow on how to mitigate or avoid these risks. Hong Kong is well-positioned as a global risk management centre and a regional insurance hub to provide support in this regard.”

Mr Vincent Lee, Executive Director (External) of the HKMA and Deputy Director of IFFO, said, “Risk management is crucial to the success of infrastructure investments and financing. The seminar deepens the participants’ understanding on the products offered by public and private insurers, and knowledge on applying suitable risk mitigation measures to further enhance project bankability. This event further showcases Hong Kong’s unique role in facilitating infrastructure investments and financing through providing full-fledged services including project advisory and risk management.”

This seminar marked the first collaboration between IFFO and the IA. It also demonstrated Hong Kong’s advantages as a comprehensive infrastructure financing and risk management centre. Both organisations will continue to explore co-operation opportunities in promoting the significance of risk management in infrastructure investments and financing.

Ends


The seminar attracts over 80 senior representatives comprising largely IFFO partners as well as IA’s BRIEF members.


Mr Vincent Lee, Executive Director (External) of the HKMA and Deputy Director of IFFO, gives welcome remarks and talks about the importance of risk mitigation in infrastructure investments and financing.


Mr Raymond Tam, Executive Director (Policy and Development) of the IA, gives welcome remarks at the seminar and talks about how the insurance industry can help manage and mitigate risks in complex projects.