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Mr Williamson 1.2
SECRET
Mr Frfar to una turbomacd's
Sp.
TIN SHUI WAI
CHoll
AKCK oHoli
10
KEUZE IN REGISTRY NO. 51
16 FEB 1981
DESK OFFICER
INDEX
PA
REGISTRY
Action Taken
16/2
on submission below
flow 11.2
2
ра
30
1. Mr Banks rang me again on 9 February. He said that he had had useful discussions with Hogg Robinson. They were in principle very interested in underwriting the political risk in the New Territories. They were indeed prepared to do this without reinsuring with the China Insurance Company. They thought that this would be a reasonable commercial risk and could represent profitable business. They envisaged undertaking insurance on a three year roll-over system. In other words, they would not insure straight away right up to 1997 but would renew a proposer's cover regularly. They would not be prepared to under- take such insurance at the last minute, say in the mid-1990s. Thus, it would be necessary for an investor to come in on the scheme early on and to subscribe a reasonable number of premia in order to get the benefit.
2. This is an interesting idea but the conditions which Hogg Robinson propose laying down might make it less attractive as a political assurance.
Д
R D Clift
11 February 1981
Hong Kong and General Department
SECRET
1
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