Aon brokerage announced today it is opening a Hong Kong officeas a location to base captive insurance operations that can takeadvantage of the flow of commerce toward China.

Stephen Cross, chief executive officer of Aon Captive ServicesGroup (ACSG), told National Underwriter from Dublin, Ireland, thatbusiness going into China and privatization of some industrialgroups has created an “interesting market. We believe we're gettingin on the ground floor level.”

Mr. Cross said he is currently working with the Hong Konginsurance regulator to come up with captive legislation with some“distinguishing features” from other captive domicile competitors.“We've got to have something to differentiate to make it moreattractive so we can advance this concept along,” he added.

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