SCMP EconomyyesterdayBusiness1 min readChina
Hong Kong Life Insurance Sales Hit Record High in Q1
Quick Look
- Hong Kong's life insurance industry recorded HK$141.1 billion (US$18 billion) in new policies in the first quarter, a significant increase from the previous year.
- This marks the third consecutive record-breaking first quarter since the Insurance Authority's establishment in 2016, following Manulife's redomiciliation to the city.
AI-generated summary
Why It Matters
Hong Kong's life insurance industry has seen a consistent upward trend, with Q1 sales hitting record highs for three consecutive years since the Insurance Authority's establishment in 2016.
Font size
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.
Open Questions
- What factors are driving this sustained growth?
- Will this trend continue in Q2 and beyond?
Related Topics
This article was originally published by SCMP Economy.
