Hong Kong insurtech FuSure granted reinsurer licence

It is majorly owned by Tencent.

Tencent-backed FuSure Reinsurance has received a general professional reinsurer licence from the Hong Kong Insurance Authority (IA), according to media reports.

Whilst based in the city, FuSure will underwrite globally and is expected to push for technological innovation across Hong Kong’s insurance sector.

With an initial capitalisation of HK$1bn ($129m), FuSure is 85.01% owned by Tencent, with the remaining 14.99% is held by private investment firm Grand Azure.