Population ageing presents a multifaceted challenge to society and at the same time creates significant opportunities for the insurance industry in developing the silver economy and narrowing protection gaps.
AXA Hong Kong and Macau (AXA) has launched WealthAhead Savings Plan (the Plan), a new product featuring an ultra-short premium payment term of two years, supporting customers in accelerating their wealth accumulation and establishing long-term savings.
A mental health screening exercise conducted by Hong Kong during the last four months of 2024 found that out of the 11,000 residents examined, nearly 6% needed further psychological testing or care. The exercise was conducted by the government of Hong Kong and was free of cost.
Prudential has appointed Mr Ray Farris as chief economist. In this new created role, he will drive economic analysis and insights for both Prudential and Eastspring Investments, Prudential's asset management arm.
The Taiping Reinsurance Company through a special purpose insurer Silk Road Re has issued $35m catastrophe bonds that offer three years of protection starting 1 January 2025 by covering named storms in the US and earthquakes in mainland China.
Marsh McLennan has appointed Mr Seth Peller as CEO of Hong Kong and Macau, subject to regulatory approval. He will take up his new role in addition to his current position as CEO of Taiwan.
OCBC has agreed to sell its entire stake in Hong Kong Life Insurance to a Hong Kong investment holding company for HK$589.3 million (US$75.9 million).
Hong Kong's insurance regulator, the Insurance Authority (IA), has appointed its non-executive directors.
Chow Tai Fook Life Insurance Co (CTF Life) has become the exclusive Founding Insurance Partner of Kai Tak Sports Park (KTSP), forming a strategic partnership to foster the integrated development of sports, culture and tourism.
Tahoe Life Insurance has appointed Mr Glen Ho and Mr Ivan Chan as joint and several managers.