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Insurance

Comprehensive motor insurance covers third-party liabilities and medical expenses of the insured in an accident. Photo: Jelly Tse

Hong Kong EV insurance costs to fall, but third-party liability may remain high

Insurance premiums are set to fall as EV prices decline, but third-party liability coverage to remain high due to accident rates and repair costs.

‘Bear’ attacking luxury cars in US$142,000 insurance case was human in suit

Manulife executive in Hong Kong criticises employer for policies in autism cases

Sell insurance to stay in Hong Kong? Top talent turn to ‘safety net’ job

Aims of talent trawl questioned as arrivals grab insurance sales jobs to stay in city, but some say move reflects ‘reality’ of current economy.

Illustration: Lau Ka-kuen

Exclusive | Hong Kong needs a playbook to become marine insurance hub: broking giant

Hong Kong’s potential as a marine insurance hub hinges on tax incentives and easier capital raising for insurers, Willis Towers Watson CEO Carl Hess says.

Full steam ahead as Shanghai ports eye global container volume record

The city is investing in infrastructure and technology to support growth, while also liberalising its finance sector to attract international shipping businesses.

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Hoax anthrax letters disrupt operations of several Hong Kong insurance firms

Fifty AIA Financial Centre employees evacuated after one receives envelope containing white powder and labelled ‘anthrax’.

Insurance firm Prudential’s office in Berkshire House on Westlands Road in Quarry Bay. Insurance firms have been targeted in a series of anthrax scares. Photo: Handout

Singapore blocks Income’s deal with Allianz amid ‘structure, terms’ concerns

Prime Minister Lawrence Wong says the government remains open to a new deal if the concerns are fully addressed.

Shanghai, Hong Kong ports lag global peers on services, CY Leung says

‘Drawbacks are obvious’, and both cities must upgrade to ‘wield more influence’ in global shipping, says Hong Kong’s former chief executive.

In China’s quest for ‘patient capital’, insurance funds may fit the bill

As China seeks long-term investment with higher risk tolerance, insurance funds have been brought up as one potential option.

China is seeking sources of “patient capital” to fuel its tech drive, and has mentioned insurers as potential backers. Photo: Reuters

Hongkongers buying more pet coverage, propelling insurer OneDegree to a profit

The company said 64 per cent of its insurees are cats; the rest are dogs, save for a few birds.

Alvin Kwock, co-founder and CEO of Hong Kong virtual insurer OneDegree. Photo: OneDegree

Exclusive | Climate change imperils Asia’s middle class, Hong Kong reinsurer says

People in emerging markets risk being ‘thrown back into poverty’ by natural disasters amid an insurance gap, Peak Re CEO says.

Malaysia set to launch Forest City Financial Zone, but will it lure businesses?

Industry insiders say the government must go beyond tax incentives to attract the firms needed to revive the troubled US$100 billion project.

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China creates ‘concerto’ of rules for insurance sector, promotes investment

China’s State Council issued a 10-point document on Wednesday outlining comprehensive regulations for the insurance industry.

China’s aims to boost investment in emerging industries. Photo: Shutterstock

Exclusive | HSBC Life sees Asia’s wealthy, bay area retirees as key to growth

Key growth areas are the wealth hubs of Hong Kong and Singapore, alongside the emerging wealth markets of mainland China and India, CEO Moncreiffe says.

Edward Moncreiffe, CEO of global insurance at HSBC, is bullish on the growth in Asia. Photo: Dickson Lee

Buyers from mainland China drive record Hong Kong life insurance sales

Sales surge 12 per cent to US$14.9 billion as mainland visitors continue buying spree to chase better returns and hedge the yuan.

Travellers seek best insurance against natural disasters, scams: Klook survey

More respondents in a Klook survey want policies that insure against natural disasters and travel scams. Hong Kong travellers are willing to pay for premium plans to get ‘maximum peace of mind’.

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As Berkshire Hathaway tops US$1 trillion, Buffett’s legacy reaches new heights

Warren Buffett’s conglomerate joins tech giants like Apple, Nvidia, and Microsoft with a market value of US$1 trillion.

Berkshire Hathaway’s market value hit $1 trillion, reflecting investor confidence in Warren Buffett’s conglomerate, which has outperformed the S&P 500. Photo: AP

Prudential posts surprise interim profit drop due to investment losses

Profit from new business, a key measure of sales and the future growth of insurance companies, increased 8 per cent to US$1.47 billion, bolstered by improving sales in Southeast Asia and on the mainland.

Exclusive | Ping An eyes services for Hongkongers retiring to Greater Bay Area

China’s largest insurer sees opportunities serving Hongkongers who are living in the mainland cities of the Greater Bay Area – a group that has grown 11 per cent in the last five years.

Ping An Insurance beats forecasts with best profits in 4 years on robust sales

China’s biggest insurer reported a 6.8 per cent gain in interim earnings, its best half-yearly performance in four years amid analysts’ pessimistic forecasts.

Ping An Insurance’s office building in Shanghai. Photo: Getty Images

Mainland Chinese buying spree boosts AIA’s first-half profit 53%

Asia’s largest insurer posted its best first-half profit in five years at US$3.31 billion and beat analysts’ estimates of US$3.27 billion.

AI declared a first-half interim dividend of HK$0.445 per share, an increase of 5.2 per cent from a year earlier. Photo: Bloomberg

US hospital lost part of his skull, then charged US$19,000 for replacement

Added costs from Fernando Cluster’s botched surgery ended up at over US$146,000, which his lawsuit blames on the hospital’s mistake.

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Editorial | Check fine print on insurance for quakes

Hong Kong’s Security Bureau updated an existing amber outbound travel alert urging awareness and caution for Japan in wake of recent spate of earthquakes and a warning of a possible ‘megaquake’

Explainer | What you need to know about Hong Kong travel insurance if quake hits Japan trip

Here’s how to navigate insurance claims if your trip to Japan is affected by an earthquake or other unforeseen circumstances.

Quake-damaged stone lanterns are examined at Udo Jingu shrine in Miyazaki prefecture. Photo: Kyodo

AXA launches Hong Kong’s first heatwave insurance to protect outdoor workers

The payout from the insurance comes into force when the temperature stays above 36 degrees for three consecutive days from August to October.

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A construction worker drinks water during hot weather in Hong Kong. AXA has launched a heat-related insurance policy in the city. Photo: AFP

Former Citigroup Asia head Angel Ng joins Prudential

Angel Ng will serve as Greater China boss from October as the UK and Hong Kong-based insurer eyes more growth in the region.

Hong Kong poised for bigger role in shipping insurance to support China’s fleet

The recently concluded third plenum highlighted Beijing’s aim to enhance Hong Kong’s status as an international shipping and trading centre, a veteran insurer and Executive Council member says.

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Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
last updated:
9 September, 2024
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