Hong Kong insurers ride affluent demand to record sales as longevity and legacy needs grow
Mainland China and overseas wealth, alongside family offices, is driving insurance demand in the city to new highs
The industry wrote HK$141.1 billion (US$18 billion) in new life policies in the first quarter, compared with HK$93.4 billion a year earlier, according to data from the Insurance Authority released on Friday.
It marked the third year that first-quarter sales hit a record high since the authority was established in 2016.
In December, Manulife’s Hong Kong unit became the first major global insurer to redomicile from Bermuda to the city to capture growing opportunities.
