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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
About 180 family offices have also been set up or expanded their operations in Hong Kong this year, the treasury minister has said. Photo: Jelly Tse
Hong Kong economy

Hong Kong’s easier redomiciling policy ‘attracts 150 inquiries from companies’

Treasury minister hails ‘very positive’ response after new law makes it easier for companies to transfer legal domicile status to city.

Manulife

Manulife’s local unit to redomicile from Bermuda in November

Japan

No more free rides: Japan’s health insurance crackdown on tourists

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Banking & finance

HSBC’s Mark Tucker to return to AIA; interim replacement is Brendan Nelson

Earlier this year, Tucker said he would retire from HSBC by the end of this year; Nelson held senior roles at KPMG UK.

HSBC’s Mark Tucker. Credit: Handout
Hong Kong healthcare and hospitals

Opinion | Cooperation the only way to avert Hong Kong’s healthcare cost crisis

Healthcare in Hong Kong should operate as a true system rather than as an inefficient, disaggregated environment with competing stakeholders.

Bonds

China’s Ping An raises US$1.5 billion from convertible bonds to fund growth

The notes will not bear interest throughout the five-year term and can be converted into Hong Kong-traded shares at HK$55.02 each.

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Bonds

Hong Kong aims to attract catastrophe bond issuers, investors with incentives

Issuers, including World Bank and Peak Re, have raised US$800 million since Hong Kong implemented a new regulatory regime in 2021.

Serious flooding in Chai Wan during the black rainstorm on September 8, 2023. Photo: Dickson Lee
IPO

Exclusive | FWD targets July listing in Hong Kong after adding IPO bankers, sources say

Insurer added CMB International and HSBC as overall coordinators on Thursday, joining Goldman Sachs and Morgan Stanley on the panel.

Bermuda

AXA among first insurers to move legal domicile to Hong Kong under new rules

Under the new law, a company that wants to redomicile to Hong Kong is no longer required to wind up its existing operations.

Banking & finance

Opinion | Hongkongers deserve a financial education that empowers them

Knowing how to spend, save and invest shouldn’t be a luxury for bankers in Central but a necessity for people to thrive.

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People visit shopping mall in Mong Kok during China’s Golden Week holiday, on May 2. Photo: Elson Li
HSBC

Exclusive | Hong Kong’s ‘game changer’ law will spur insurers to redomicile: industry guild

Insurance industry is ready to capitalise on this new law and be the primary use case, HKFI CEO Selina Lau says.

Hong Kong’s company redomiciliation regime will allow firms incorporated overseas to apply to return to the city while maintaining their legal identity and business. Photo: Jonathan Wong
IPO

Richard Li’s FWD files to list in Hong Kong amid rising IPO wave

The insurer has received preliminary interest from potential investors for its third attempt to list in Hong Kong, sources say.

Hong Kong healthcare and hospitals

Greater healthcare demand drives 55% rise in Hong Kong employee medical premiums

Inaugural ‘staff medical insurance index’ highlights surge over past three years with post Covid-19 illnesses among contributing factors.

Greater Bay Area

Hong Kong insurers extend Greater Bay Area medical coverage

BOC Life, FWD, Prudential unveil plans as firms see opportunities in ‘silver’ economy and cross-border retirement trend.

People read in Hong Kong Park in Admiralty on March 8, 2025. Photo: Nora Tam
Banking & finance

HSBC sets up captive insurer in Hong Kong to support Asian expansion

Move will solidify Hong Kong’s position as a global leader in asset, wealth, and risk management, lender’s CEO in the city says.

A view of HSBC headquarters in Central, Hong Kong, on April 29, 2025. Photo: Sun Yeung
Bonds

Peak Re sells US$50 million of catastrophe bonds in boost for Hong Kong market

The latest sale is the seventh since the market launch in 2021, expanding the pool of catastrophe bonds to US$800 million.

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Hong Kong society

Editorial | Smooth travel begins with fair insurance

Hong Kong watchdog finds policies offering fewer benefits to old and young although they are paying the same as others.

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Gun violence in the US

Luigi Mangione pleads not guilty as US prosecutors seek death penalty

Some Americans have cheered the suspect, saying he shone a spotlight on steep US healthcare costs and the power of health insurers.

Luigi Mangione appears in court for a hearing in New York in February. Photo: New York Post via AP
Banking & finance

Hong Kong’s 2024 life insurance sales soar 21% to record US$28 billion

Mainland Chinese tourists last year spent HK$62.8 billion (US$8 billion) on life and medical policies, up 6.5 per cent from 2023, according to the Insurance Authority.

United States

Opinion | What Trump should be making great again are the lives of Americans

Tariffs won’t shrink the inequalities in US society that result from globalisation. A better safety net, starting with healthcare, would.

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Banking & finance

Exclusive | HSBC to offer anti-ageing treatments, medical check-ups at Hong Kong wealth hub

The wealth centre, which will open in the second half, is aimed at the growing silver economy, HSBC Life’s Daisy Tsang says.

Daisy Tsang, CEO of HSBC Life in Hong Kong and Macau, says she strongly believes in Hong Kong’s potential as a hub for wealthy customers. Photo: Sun Yeung
Hong Kong society

Fewer benefits on most travel insurance for elderly, kids: Hong Kong watchdog

Ahead of Easter holiday, Consumer Council reveals that among 27 surveyed policies, 22 lowered maximum benefit limits for elderly and children.

Tourists pose for pictures during the cherry blossom season at Ueno Park in Tokyo at the end of March. Photo: Getty Images
Banking & finance

Hong Kong’s finance sector embraces GenAI, with adoption to reach 90% in 5 years

GenAI applications have the potential to lead to a more curated customer experience, Academy of Finance CEO Enoch Fung says.

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Banking & finance

Exclusive | Sun Life sees Hong Kong as ‘most important’ market in Asia for life insurers

New insurance premiums rose 330 per cent between 2019 and 2024, lifting Sun Life’s ranking to fifth from 12th, according to company data.

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Hong Kong economy

Japan issues megaquake warning, but many travellers from Hong Kong undeterred

Tour bookings remain steady while insurance executives urge travellers to secure coverage.

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Tourists visit a park in front of the Imperial Palace in Tokyo. Photo: AFP
Climate change

Opinion | An Asia racked by natural disasters needs insurers to step up

Instead of withdrawing from high-risk areas, Asia’s insurers must become an active partner in long-term climate risk management.

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A Muslim woman cries while offering morning prayers on a road near destroyed mosques in Mandalay on March 31, three days after the deadly Myanmar earthquake. Photo: AFP
SCMP Exclusives

Exclusive | China’s Ping An is eyeing a bigger slice of Hong Kong’s insurance market

The insurer is weighing different entry strategies that include applying for a new licence, partnerships and acquisitions.

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Banking & finance

Manulife picks chief actuary Finch as Asia CEO to lead biggest profit centre

Steve Finch will take over as Asia CEO from May 9, replacing Phil Witherington who is heading back to Toronto to become global CEO.

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