ARTE Generali, a leading art insurance provider, has recently launched a comprehensive solution for private collectors in Hong Kong in partnership with Generali Hong Kong. This move comes at a time when the art market in Hong Kong is experiencing significant growth, with the city reinforcing its position as Asia’s premier art marketplace.
According to data from Art Economics, China, including Mainland China and Hong Kong SAR, reclaimed its spot as the second-largest art market globally in 2023, with a 19% share by value and sales estimated at US$12.2 billion. This performance marks a recovery from a sales low in 2020 and highlights the region’s strong appetite for fine art.
With the increasing value of artworks and the rising number of art collectors and investors in Hong Kong, the need for comprehensive protection is growing. ARTE Generali’s solution offers coverage for a wide range of risks, including damage, theft, and loss, providing peace of mind for private collectors.
The launch of this solution in Hong Kong is a strategic move for ARTE Generali, as the city continues to attract a growing number of art collectors and investors. The return of Art Basel Hong Kong at full scale, along with other cultural initiatives, further reinforces the city’s position as a hub for the art market.
This partnership between ARTE Generali and Generali Hong Kong is a testament to the company’s commitment to expanding its presence in key markets and providing tailored solutions for the unique needs of each region. With its impressive track record in other countries, ARTE Generali is well-positioned to support the growth of the art market in Hong Kong and provide comprehensive protection for private collectors.