In the long arc of capital seeking safety, Hong Kong's insurance sector finds itself at a familiar crossroads: not threatened by new law, but by the more consistent enforcement of old ones. Beijing's tax authorities have sharpened their gaze on how mainland citizens hold wealth offshore, sending a tremor through the city's wealth management world — yet S&P Global Ratings sees the underlying demand for diversification, legal stability, and multi-currency protection as durable enough to sustain 8 to 10 percent annual premium growth over the next two years. The friction is real, but the foundatio