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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
Doctors and health groups in the Philippines said the “medical pork” system allows politicians to influence who receives state medical aid. Photo: Shutterstock
The Philippines

‘Medical pork’ row exposes political grip over Philippine health assistance

Doctors and health groups say the system allows politicians to influence who receives state medical aid, undermining universal care.

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Hong Kong

Market volatility, family feuds fuel Hong Kong’s wealth transfer anxiety

Banking & finance

Macroscope | As global spending needs grow and debt rises, business as usual won’t suffice

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Manulife

Manulife becomes first insurer to redomicile in Hong Kong

Move from Bermuda ‘reflects our deep-rooted belief in Hong Kong’s future and its importance to our business,’ Hong Kong and Macau CEO says.

Patrick Graham, CEO of Manulife (International) Hong Kong and Macau, photographed in Ngau Tau Kok on June 3, 2024. Photo: Xiaomei Chen
AIA

Hong Kong insurers move to help fire victims claim payouts on 12,000 policies

Insurance Authority confirms 12,000 policies impacted, with payouts spanning life, medical, property and accident coverage.

AIA

Hong Kong insurers identify 8,700 policies owned by Tai Po fire victims

Residents of Wang Fuk Court hold 7,600 active life and 1,100 property policies provided by some 30 insurers, Insurance Authority CEO says.

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Hong Kong’s Tai Po fire tragedy

Hong Kong insurers face profit pressure in aftermath of deadly Tai Po fire

Impact will be manageable, but insurers may have to rethink pricing strategies that have led them to cut premiums amid competition, S&P says.

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Hundreds of people queue on Sunday to lay flowers and pay tribute to victims of the deadly fire at Wang Fuk Court in Tai Po, seen in the background. Photo: Karma Lo
Crime

Alleged CEO killer tries to exclude evidence from US murder trial

Luigi Mangione’s defence argues police conducted an illegal warrantless search of his backpack, threatening his right to a fair trial.

Banking & finance

Hong Kong insurers liable for payouts of US$334 million related to Tai Po fire

The Hong Kong Bar Association is providing free legal services to victims and urges them to take immediate action to protect their rights.

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Banking & finance

Hongkongers happy with their weight, stressed about finances and jobs: Cigna

Only 36 per cent of respondents in Hong Kong want to lose weight, below the global average of 46 per cent, according to the Cigna survey.

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Two-thirds of Hong Kong respondents in a Cigna survey said they exercised regularly to manage their weight. Photo: Dickson Lee
Banking & finance

Sun Life aims for global growth with new asset management hires

Sun Life unites asset management divisions, appoints top talent to drive global expansion and boost alternative investments.

Sun Life Financial’s headquarters in Toronto. Photo: Shutterstock
Consumer protection in Hong Kong

Hong Kong watchdog urges scrutiny of travel insurance terms amid claims disputes

Consumer Council says travellers should fully understand how policies define key terms and what activities are covered.

Hong Kong tourism

Hongkongers urged to secure travel insurance as bear attacks rise in Japan

But insurers warn travellers to stay out of bear-alert areas or risk losing their coverage.

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Japan

Japan’s welfare crackdown has foreign residents in its sights

New rules threaten non-renewal of visas if foreign residents do not pay their health insurance premiums and pension contributions in full.

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Foreigners crowd a street in Kyoto, western Japan, last month. Photo: Kyodo
Stocks

Chinese listed companies’ earnings surge on capacity cut, tech self-sufficiency

The strong quarterly results are expected to boost a rally in Chinese stocks that has been fuelled by a shift of bank savings to risk assets.

The earnings of mainland China-listed companies jumped 11.6 per cent from a year ago, compared with a 1.2 per cent rise in the second quarter and 3.2 per cent growth in the January-March period, according to China Merchants Securities. Photo: Reuters
Banking & finance

Hong Kong life insurance sales hit record high 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.

Hong Kong transport

Guangdong drivers to get 3-day stay in Hong Kong under new cross-border scheme

Authorities set to launch the ‘Southbound Travel for Guangdong Vehicles’ scheme next month.

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Banking & finance

Prudential expands partnerships, AI for cross-border business: CEO

Moves aim to serve Hongkongers getting care across the Greater Bay Area, while also meeting voracious policy demand from mainland visitors.

Travelers depart Hong Kong from the West Kowloon Express Railway Station on May 1, 2025. Photo: May Tse
IA

Hong Kong regulator puts a 50% cap on referral fees for insurance sales

The new regulation addresses a grey area where some brokers pay 90 per cent of commission as referral fees to unlicensed persons.

Banking & finance

Hongkongers eye stable returns as longer lifespans reshape retirement needs

Two-thirds of respondents in an HKIMR survey said they want stable returns and wish to maintain their living standards after retirement.

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Ageing society

More Hongkongers feel anxious about using up their savings in retirement: survey

Only 16 per cent of those aged 55 to 65 and 23 per cent of those over 65 have set aside HK$10 million for retirement, the survey says.

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Hong Kong financial institutions are racing to offer solutions for people to have a regular income after they retire. Photo: Karma Lo
Banking & finance

Policy address: Hong Kong unveils measures to boost financial centre status

Lee unveils plans to encourage more mainland banks to set up in city, tax incentives for family offices, and possible use of RMB to settle certain government expenditure.

Chief Executive John Lee Ka-chiu delivers his fourth policy address. Photo: Sam Tsang
Gun violence in the US

Judge tosses Luigi Mangione terrorism charges in US CEO killing

The 27-year-old could still face life in prison – and the death penalty under federal charges – if convicted of the murder of Brian Thompson.

Malaysia

Are ‘unscrupulous’ insurers causing richer Malaysians to seek public hospitals?

With private healthcare costs surging, more pressure on the public healthcare system could deprive Malaysians of affordable and timely care.

FWD Group

FWD profit jumps 15 times on sales spike, lower costs after Hong Kong IPO

Premiums from new life policies jumped 38 per cent to US$1.25 billion in the first half, while expenses dropped US$65 million.

Huynh Thanh Phong, group CEO and executive director of FWD, speaks at a press conference at Two Pacific Place in Admiralty on August 29, 2025. Photo: Edmond So
Banking & finance

Editorial | Combined effort needed to ensure Hong Kong has talent for future

Banks and insurers need to be proactive in cultivating specialists in AI, green finance, and Southeast Asian and Middle East markets.

People walk past one of two bronze lions outside the HSBC building in Hong Kong on February 19, 2025. The finance sector, academia and the government need to work together to create a skilled talent pool that meets the city’s needs. Photo: AFP
Hong Kong property

FWD expands office at Swire’s Taikoo Place to become largest tenant

The Devon House building will be renamed FWD Tower next year and become the insurer’s Hong Kong headquarters.

Mainland China

Prudential’s new business profit jumps 12% on increase in Hong Kong sales

Profit from new policies sold to Hong Kong residents jumped 17 per cent in the first half of 2025, insurer says.

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