'Insurance connect' in the pipeline

Cross-border transactions of insurance products within the Guangdong-Hong Kong-Macao Greater Bay Area are in the pipeline, using a model similar to that in the transaction of stocks and bonds.

The research and development of the "insurance connect" - a special channel for the marketing, sales and processing of insurance products between the Chinese mainland and Hong Kong - is in progress, Moses Cheng Mo-chi, Hong Kong Insurance Authority chairman, told a forum in Hong Kong on Monday.

He said the long-anticipated insurance connect would follow the framework of the Stock Connect and Bond Connect, which is relatively closed.