Hong Kong life insurance sales hit record US$22.3 billion on high-net-worth demand
Policy sales rose 50 per cent in the first half of the year to US$22.3 billion, the most since the Insurance Authority was set up in 2016
Life insurance sales in Hong Kong rose 50 per cent in the first half of this year to a fresh record high on the back of increased demand for wealth management and estate planning from high-net-worth individuals in the city and mainland China.
The industry wrote HK$173.7 billion (US$22.3 billion) worth of new life policies in the six months to June, up from HK$115.9 billion a year earlier, according to data released by the Insurance Authority on Friday. It was the highest first-half-year sales since the authority was established in 2016.
“Hong Kong’s insurance industry has sustained its growth trajectory in the first half of 2025, driven by strong demand for savings, health and protection solutions,” said Patrick Graham, CEO of Manulife Hong Kong and Macau.
The outlook was positive because Hong Kong had solidified its position as a leading international insurance and wealth management hub, he added.
“Supported by a growing number of family offices, we anticipate the insurance industry will play an increasingly vital role in helping individuals and families achieve their aspirations for financial security, health resilience and legacy planning in an era of rising longevity,” Graham said.
Nearly 60 per cent of high-net-worth individuals in mainland China, Hong Kong, Macau and Taiwan preferred insurance policies to transfer their wealth to future generations, according to a joint survey released by Manulife and Deloitte in February.