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Hong Kong picked as Asian hub of International Union of Marine Insurance

THE Hong Kong Federation of Insurers (HKFI) as set up by the International Union of Marine Insurance (IUMI), its Asian hub in Hong Kong.

This is the first ever regional chapter in IUMI's history, said a statement from the group.

'The Asian marine insurance market accounts for almost 30 per cent of global premium income and world trade in this region continues to grow," said IUMI president Dieter Berg.

"The opening of our new Asian hub, based in Hong Kong, recognises this significant contribution," he said.

"We are extremely grateful to the Hong Kong Federation of Insurers for its support and expertise," said Mr Berg.

As IUMI's Asian hub, the HKFI will help promote marine insurance in the region and conductquality training / conferences to upgrade the industry's professional standard.

At the same time, the HKFI will step up to help IUMI raise its profile in the region and build a broader network.

Said Hong Kong Secretary for Transport and Housing Anthony Leung: 'The Asian hub will promote the development of marine insurance in Hong Kong, as well as in the mainland, and the rest of the Asia-Pacific region, and connect with the industry around the region.

"By unleashing the unique advantages and soft power of Hong Kong's maritime industry, the Asian hub will further raise Hong Kong's profile as a maritime services hub."

Said HKFI chairman Ronnie Ng: 'The Hong Kong Federation of Insurers is greatly honoured to take up this important and historic role in the marine insurance arena."