PICC Property & Casualty has issued Hong Kong's first "sidecar" insurance-linked security to provide reinsurance protection for its offshore wind insurance business. The deal is the first sidecar ILS by a mainland Chinese insurer and follows PICC P&C's 2022 catastrophe bond in Hong Kong, marking another use of international capital markets to diversify insurance risk.

2026-10-14

PICC Property & Casualty has issued Hong Kong's first "sidecar" insurance-linked security to provide reinsurance protection for its offshore wind insurance business. The deal is the first sidecar ILS by a mainland Chinese insurer and follows PICC P&C's 2022 catastrophe bond in Hong Kong, marking another use of international capital markets to diversify insurance risk.