AXA to Re-Domicile China Business to Hong Kong
Global insurer AXA will look to re-domicile its China business to Hong Kong in a strategic move that is expected to simplify reporting and compliance processes.
AXA plans to re-domicile AXA China Region Insurance Company (Bermuda) Limited (ACRIB) from Bermuda to Hong Kong, according to a statement, subject to regulatory approvals. It also proposes to rename ACRIB to AXA China Region Insurance Company (Hong Kong)
Limited.
The move is not expected to have any impact on the legal entity, organizational structure or daily operations.
«We are excited to be among the first to re-domicile to Hong Kong. This move is not merely administrative; it is a significant step forward in deepening our roots in Hong Kong and simplifying our reporting and compliance processes,» said Sally Wan, AXA Greater China CEO. «I firmly believe it will provide strategic advantages that position us for long-term success in one of the world's most vibrant markets.»
