The Insurance Authority (IA) is committed to reviewing the different parameters embedded in the risk-based capital (RBC) regime, with an emphasis on creating sufficient incentives for insurers and broker companies to place larger volumes of business in Hong Kong, according to the agency's chairman Mr Stephen Yiu.
Prudential Hong Kong has appointed Mr Edward Dai as general manager of its Macau branch office. Mr Dai succeeds Mr Chris Ma, who has retired.
Wealthy individuals in Hong Kong have shown a marked shift towards using digital channels to manage wealth and a willingness to embrace AI-guided wealth management, according to the findings of a survey of 500 rich individuals in the territory conducted by Capco, a global management and technology consultancy.
Insurers in Hong Kong generated new business premiums of HK$29.7bn ($3.8bn) from mainland Chinese visitors (MCVs) in the first six months of this year, according to data from the Hong Kong Insurance Authority.
The community programme, called "Hoops+Health", is inspiring engagement, activity and healthy living through basketball by improving community access to courts and education across six Asian markets.
The Hong Kong insurance industry showed a rise of total gross premiums by 5.1% to HK$310.9bn ($39.9bn) for the first half of 2024 over the corresponding period in 2023, according to provisional data released by the Insurance Authority (IA).
The National Financial Regulatory Administration (NAFR) has addressed more fully questions about allowing cross-border insurance access between mainland China and Hong Kong and Macau.
Peak Reinsurance's net profit reached a record level of $200m in 2023, supported by improvements in reinsurance service results and investment performance under new international accounting standards, notes AM Best.
Hong Kong-headquartered Pan-Asian life and health insurance group, FWD Group Holdings, has reported an operating profit after tax of $223m for the the six months ended 30 June 2024. This figure is stable when compared to the corresponding period in 2023.
Pan-Asia insurer AIA Group yesterday announced that it had chalked up a record value of new business (VONB) for the first half of this year, which rose by 25% to $2,455m.