| Regulatory Framework > Captive
Insurance |
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The concept of captive insurance dates back
to the early 1950's. Since then, the number of captives in
the world has grown to over 4,500.
The scope of operation of a captive may differ
from one to another depending on the purposes for which it
is formed. In Hong Kong, a captive is legally defined under
the Insurance
Companies Ordinance (Cap. 41) as an insurer which is formed
by its parent company to underwrite exclusively the insurance
business of the parent or group companies or their associated
companies.
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