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TOPIC

Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
Illustration: Henry Wong
US-China relations

Opinion | US and China must team up to keep maritime trade routes free and safe

The Strait of Hormuz crisis shows neither state benefits when key waterways can become instruments of political pressure or economic coercion.

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Mainland China

China Life’s revenue surges as insurer plans deeper push into AI and biotech

Banking & finance

Hong Kong expands AI sandbox with new projects spanning dozens of partners

Hong Kong workers/labour rights

Letters | Hong Kong should study the mainland gig worker insurance model

Readers discuss labour protection for delivery riders, and a new era for India-Bangladesh relations.

A food delivery rider in Mong Kok in 2025. When Deliveroo exited the Hong Kong market, many delivery workers were left without compensation. Photo: Sam Tsang
IA

Prudential’s new business profit growth slows, US$300m share buy-back announced

New business profit increases 8 per cent to US$1.38 billion in first half as market braces for potential fall in number of mainland visitors.

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Banking & finance

Ping An eyes Hong Kong ETFs after nod on cross-border investment

China’s largest insurer downplays tax changes, shares positive outlook after reporting 36 per cent profit growth.

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Ping An Insurance

Chinese insurer Ping An’s profit rises 36% on policy sales, investments

Earnings beat analysts’ estimates, with performance mainly driven by increase of new life policies and investment gains.

A logo of Ping An is seen outside a building in Shenzhen. Photo: Reuters
AIA

Mainland Chinese investors continue to buy insurance policies in Hong Kong: AIA

AIA sees value of new business rise 10 per cent year on year to record high of US$3.21 billion in the first half.

Hong Kong property

Prudential Hong Kong expands headquarters across Swire Properties’ towers

Company boosts office footprint despite insurance sector’s concerns over China’s tax clampdown.

Banking & finance

Beijing urges mainland insurers to invest in Hong Kong-listed ETFs

Hong Kong’s status as global financial centre receives a boost as China’s financial regulator touts city’s exchange-traded funds.

Beijing has encouraged mainland insurers to invest in Hong Kong’s exchange-traded funds. Photo: Sam Tsang
Wealth management

Even Hong Kong’s rich expect to work past retirement age, survey says

More people plan to work longer and ‘blend work, family responsibilities and personal aspirations’, Manulife Hong Kong CEO says.

The percentage of Hongkongers expecting to work past retirement age is higher than in Singapore and mainland China, but lower than in Japan. Photo: Karma Lo
United States

Luigi Mangione pleads guilty in federal case, admits he killed insurance CEO

Resolving the federal case ⁠could allow Mangione to seek dismissal of state murder charges under New York’s double jeopardy law.

Hong Kong

Insurance Authority to prioritise broadening of regional clientele: CEO

In response to changes to mainland tax enforcement, Clement Cheung says city has to make itself ‘less vulnerable and more competitive’.

Banking & finance

Hong Kong insurers to weather Beijing’s tax shift with 8-10% premium growth: S&P

Credit-rating agency says heightened scrutiny likely to create compliance hurdles, not destroy demand.

Insurance sales agents approach passers-by on Canton Road in Tsim Sha Tsui, Hong Kong. Photo: Eugene Lee
IA

Exclusive | Hong Kong to reappoint insurance regulator as industry braces for tough period

Insurance Authority CEO Clement Cheung will be reappointed on Friday to help industry navigate Beijing’s tax clampdown, sources said.

Insurance Authority CEO Clement Cheung. Photo: Handout
Gun violence in the US

Luigi Mangione expected to plead guilty in US CEO killing

Prosecutors will recommend he serve life in prison for the fatal shooting of UnitedHealth Group executive Brian Thompson.

Chinese offshore investment

Opinion | Beijing’s offshore insurance tax tests Hong Kong wealth management

While markets initially fell, more transparent cross-border oversight could strengthen the city’s credibility as a wealth management centre.

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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.

A view of the HSBC Building in Central, Hong Kong. Photo: Karma Lo
Hong Kong property

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

Potential taxation of offshore property income could curb mainland demand, while weaker insurance activity hits decentralised office markets.

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Banking & finance

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

Beijing urged the market not to overreact to the policy – which it stressed was not new – after reports of the tax triggered a sell-off in 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.

Hong Kong has become the world’s largest offshore wealth management hub. Photo: SCMP/Sam Tsang
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.

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.

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.

A Yivtol electric vertical take-off and landing (eVTOL) aircraft at InnoEx 2026 at the Hong Kong Convention and Exhibition Centre in Wan Chai on April 14, 2026. Photo: Eugene Lee
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.

Secretary for Environment and Ecology Tse Chin-wan (centre in white) greets patrons and their dogs at a restaurant in the West Kowloon Cultural District, on the first day the scheme came into effect. Photo: Sam Tsang
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.

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.

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