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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
A view of the HSBC Building in Central, Hong Kong. Photo: Karma Lo
HSBC

HSBC reshuffles insurance division after CEO’s surprise departure: internal memo

Two Asia-based executives will replace outgoing global insurance CEO Edward Moncreiffe, who has resigned, according to a company document.

Hong Kong property

Hong Kong property recovery faces new risk as Beijing widens offshore tax net

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Banking & finance

Don’t panic: China says 20% offshore insurance tax does not target Hong Kong

Hong Kong stock market

As Hong Kong shares react to 20% levy report, investors eye Beijing’s next steps

Prudential, AIA and HSBC slid following report of the insurance levy, though Goldman Sachs says profit fallout may be limited.

The Prudential logo is displayed on Star House in Tsim Sha Tsui, Hong Kong. Photo: Handout
Wealth management

Sun Life targets Asia’s booming wealth transfer market with new platform

Insurer joins global scramble to serve Asian clients looking to transfer wealth to next generation via insurance products.

Banking & finance

Shifting priorities: how affluent buyers fuel Hong Kong’s record insurance sales

Mainland China and overseas wealth, alongside family offices, is driving insurance demand in the city to new highs.

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Banking & finance

HSBC agrees to US$2 billion deal to sell Singapore insurance branch to Allianz

Allianz is set to buy the bank’s Singapore insurance arm, entering a 15-year distribution pact as HSBC streamlines its global operations.

The logo of insurer Allianz SE. Photo: Reuters
Shenzhen

Shenzhen aircraft takes flight in Hong Kong under pioneering insurance plan

Shenzhen’s eVTOL aircraft secures cross-border insurance for Hong Kong flights, boosting the Greater Bay Area’s low-altitude economy.

Animal welfare in Hong Kong

Watchdog urges pet owners to be mindful of terms and conditions of insurance plans

Consumer Council issues warning less than week after more than 900 restaurants legally allowed to welcome dogs on premises.

Hong Kong economy

The Peninsula’s owner and SF Holding set up captive insurers in Hong Kong

The Hongkong and Shanghai Hotels CEO says the move enhances its risk management capabilities and supports its long-term growth.

Peninsula Hotel in Tsim Sha Tsui, Hong Kong, taken in April 2018. Photo: SCMP/Winson Wong
Hong Kong economy

Hong Kong’s war-risk pool testament to collaboration, insurance leader says

Five local insurers built marine war-risk pool to address uncertainties over unstable conditions in the Middle East.

Selina Lau, chief executive of the Hong Kong Federation of Insurers, says the industry is helping to secure the city’s future. Photo: Jonathan Wong
China’s private sector

Final insurance frontier: Hong Kong sees opening in mainland China’s space boom

Like maritime trade centuries ago, the space economy is built on high-risk, high-value journeys. Hong Kong wants to be its insurance hub.

Hong Kong economy

Opinion | Can Hong Kong make a giant leap to commercial space insurance?

The explosive growth of China’s commercial space business, combined with geopolitical realities, gives the city a captive market.

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China economy

Opinion | Can Hong Kong break London’s maritime insurance grip?

An alternative system is needed to end Washington and London’s ability to weaponise maritime insurance for their geopolitical ends.

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Illustration: Craig Stephens
Hong Kong society

Initiative tackles insurance barriers for autistic children in Hong Kong

With fears of blanket refusals hanging over families, non-profit organisation has stepped in to help secure insurance through advocacy and support.

Sarah* (left) says she approached several insurance companies over about three months, but none could assure her that her son, now 18, would be eligible for cover because of his condition. Photo: Jonathan Wong
US-China tech war

Who pays when rockets explode? China rushes to insure SpaceX’s rivals

Wave of Chinese insurers is underwriting rockets and satellites, turning space risk into a new front in the China-US rivalry.

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Hong Kong economy

Opinion | Why Hongkongers should be very interested in the Pinglu Canal

China-Asean trade is expected to surge as the Pinglu Canal synergises with the Hainan free-trade zone – creating demand for services Hong Kong can provide.

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Banking & finance

Hong Kong banks tighten rules in mainland China as Beijing pores over outflows

Some banks are exercising more caution with offshore accounts for their mainland China clients amid tighter investment controls from Beijing.

At least one branch of the Bank of East Asia (BEA) in Shanghai has banned mainland Chinese customers from opening Hong Kong bank accounts. Photo: May Tse
Banking & finance

Why are Asia’s families eyeing liquid assets to secure their children’s wealth?

More of the continent’s parents are providing share portfolios and other assets for their offspring as confidence in property begins to wane.

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Hong Kong’s Tai Po fire tragedy

Hearing results key to compensation for Wang Fuk Court residents: experts

Legal and insurance experts say sale of flats to government won’t affect residents’ rights to claims but they must prove negligence had caused losses.

Hong Kong’s Tai Po fire tragedy

Government to handle Wang Fuk Court insurance claims under buy-back plan: Hop On

But some residents who took part in second briefing by administrator say questions remain over how and when they can expect to receive compensation.

The government has earmarked HK$6.8 billion to acquire flats at seven of the eight blocks of the estate damaged by the fire. Photo: Sam Tsang
Hong Kong economy

Opinion | How war-risk marine insurance can set Hong Kong apart

Marine insurance is part of the power structure in global shipping. It reveals a real gap China still faces, which Hong Kong can fill.

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A general view of Kwai Tsing Container Terminals on March 4. Photo: Elson Li
India

Heat-triggered insurance offers cold cash cushion for India’s outdoor workers

India lost an estimated 247 billion hours of labour to extreme heat in 2024, equivalent to nearly US$194 billion in economic losses.

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Wealth: Healthcare

Future-proofing: how longevity medicine is reshaping health prospects

With people living longer and fewer children being born to support older generations, can preventive longevity medicine help provide a more secure and healthy future?

Supported by
Standard Chartered
Banking & finance

Gold, cruises and Dior: Hong Kong lenders aim to entice mainland China visitors

With 980,000 visitors from the mainland expected during golden week, Hong Kong lenders line up incentives to capture wealthy customers.

Mainland tourists flock to Tsim Sha Tsui during the Golden Week holiday on May 3, 2025. Photo: Nora Tam
Hong Kong economy

Hong Kong insurers’ health at risk as medical claims could double in decade

Research finds total reimbursements reached HK$17.73 billion in 2023, up by 61 per cent from HK$10.99 billion in 2019.

The increase was mainly driven by inpatient claims, which grew by 75 per cent to more than HK$14 billion, compared with a 24 per cent growth in outpatient reimbursements. Photo: Getty Images
Banking & finance

Default in our stars: China banks use satellites to track assets, cut loan risks

Analysts say orbital monitoring of sites, property and other assets provides vital data on borrowers.

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Banking & finance

Life insurance sales in Hong Kong hit record amid ‘rise of millionaires’

Industry wrote US$42.2 billion in new life policies last year, ‘capturing both onshore and offshore demand across Asia’, HSBC Life CEO says.

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