Planning for retirement among Hong Kongers began on average at age 40 in 2024, compared to 45 in 2018, according to a survey by Schroders.
Hong Kong-based insurer bolttech Insurance saw its insurance service result increase to HK$54m in 2023, from HK$29m a year ago, on a fall in insurance service expenses. The favourable underwriting performance was partly attributed by the release of reserves, says Fitch Ratings.
New business premiums derived from mainland Chinese visitors (MCVs) was HK$15.6bn ($2bn) in 1Q2024, more than 60% higher than in the corresponding quarter of 2023, according to data from the Hong Kong Insurance Authority.
Billionaire Richard Li has revived plans to list pan-Asian insurer FWD Group in Hong Kong, reported Reuters quoting three people with direct knowledge of the matter, after regulatory delay and market volatility scuppered previous attempts to take it public.
The Hong Kong insurance industry posted a 12.2% increase in total gross premiums to HK$165.1bn ($21.1bn) in the first quarter of 2024, according to provisional statistics released by the Insurance Authority (IA).
The Global Asia Insurance Partnership (GAIP) and Nanyang Technological University (NTU) have launched the 2024 NTU-GAIP Insurance Case Competition, focusing on AI.
AIA Group (AIA or the Group) has opened its redeveloped group headquarters at 1 Stubbs Road, Wan Chai in Hong Kong. The AIA Building is Hong Kong's first urban campus and is wholly owned, operated and solely occupied by AIA.
Manulife Hong Kong has announced a two-year strategic partnership with Mind HK, a Hong Kong-based mental health charity, to raise public awareness of the importance of mental health and to influence the development of mental health support services in Hong Kong.
The Insurance Authority, Hong Kong's regulator, has welcomed a decision made by the government to appoint Mr MM Lee as executive director of general business and Mr Marty Lui as executive director of long term business.
The Hong Kong Insurance Authority (IA) says that its inspections, intelligence received, and mystery shopping have continued to reveal business models adopted by certain licensed insurance broker companies that appear obviously to rely on unlicensed persons to sell long-term insurance policies to Mainland China Visitors (MCVs).