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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
A woman who bought a “love insurance” policy for US$28 in 2016 has claimed US$1,400 a decade later after getting married. Photo: SCMP composite/Shutterstock/Douyin
Trending in China

China woman buys US$28 ‘love insurance’, claims US$1,400 after marriage a decade later

Husband says he thought his wife had been scammed when told about policy; couple opt for cash payout over 10,000 roses.

Banking & finance

China’s wealthy swap real estate for insurance, gold as retirement looms

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The Philippines

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

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Hong Kong

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

In Hong Kong, there were 198 ongoing lawsuits over deceased estates as of the end of September, the second largest category among cases.

Pedestrians cross a road in Central, Hong Kong. Photo: May Tse
Banking & finance

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

The increase in government debt means that nations must look elsewhere for funds required to meet socioeconomic needs.

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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.

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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.

The Hong Kong Insurance Authority says the total number of impacted policies should not increase further. Photo: Elson Li
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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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.

Luigi Mangione appearing in Manhattan Criminal Court on Monday. Photo: Yuki Iwamura via Reuters
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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A fire at Wang Fuk Court in Tai Po has claimed 55 lives, while some 280 people are still missing. Photo: Eugene Lee
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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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.

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.

A traveller picks up her luggage at a baggage collection belt in Hong Kong International Airport. The Consumer Council notes 55 complaints over travel insurance claims were filed in the first 10 months of 2025. Photo: Roy Issa
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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Hongkongers visiting Japan should avoid entering sealed-off areas known for bear attacks, insurers have said. Photo: AFP
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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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.

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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.

Last year, mainland visitors spent HK$62.8 billion to buy life policies in Hong Kong, representing 28.6 per cent of overall sales. Photo: Shutterstock
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.

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.

The Hong Kong Federation of Insurers sees the new regulation as part of a broader move to enhance professionalism, transparency and consumer protection. Photo: Shutterstock
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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Hongkongers are prioritising stable returns for their long-term financial goals, as longer lifespans reshape retirement needs. Photo: Sam Tsang
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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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.

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.

Luigi Mangione, the suspect in the killing of UnitedHealthcare chief executive Brian Thompson, is escorted by police officers at Manhattan Supreme Court on Tuesday. Photo: Reauters
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.

An elderly man receives a dose of a COVID-19 vaccine at a local hospital. A Malaysian lawmaker says many high-income Malaysians have fallen victim to “unregulated and irresponsible marketing” by insurers. Photo: Bernama
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.

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.

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