From expanding Hong Kong's influence across the global maritime value chain to developing specialty insurance products for mainland companies going global, the plan outlines an ambitious growth agenda...
Asia's commercial space sector is expanding faster than local insurance capacity, leaving operators reliant on overseas reinsurers as orbital congestion emerges as a new underwriting risk.
The space agency's review found that domestic insurers currently lack sufficient capacity to underwrite large and complex space risks, leading to heavy dependence on international reinsurance markets.
Since its launch in March 2025, the Beijing commercial space co-insurance consortium has also reduced its average inquiry and underwriting time by 20%.
