Hong Kong winds up Target Insurance after industry regulator finds the taxi insurer to be insolvent, flexing its muscle for the first time
Derek Lai Kar-yan, who took over the management of Target, said the insurer ‘is deemed to be insolvent’
A winding up petition was presented after more than six months of investigation, the regulator said in a statement
Hong Kong’s insurance regulator is winding up Target Insurance, concluding after six months of investigations that the city’s biggest motor insurer is insolvent.
……Read full article on South China Morning Post - Hong Kong
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