China insurers tipped to diversify from RMB via Connect schemes

Chinese insurance firms are likely to diversify away from renminbi exposure using the proposed link for exchange-traded funds between China and Hong Kong, said Tobias Bland, chief executive of Hong Kong-based asset manager Enhanced Investment Products. Speaking at the CLSA Investors’ Forum yesterday in Hong Kong, he also expressed concern that the city would lose some mainland flows to London, as Beijing is discussing a similar ETF Connect scheme with the UK. “Issuers in Hong Ko…