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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
Luigi Mangione attends a pre-trial appearance at Manhattan Criminal Court in New York City on Tuesday. Photo: Reuters
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

Banking & finance

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

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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China’s private sector

Final insurance frontier: Hong Kong sees opening in mainland China’s space boom

Like maritime trade centuries ago, the space economy is built on high-risk, high-value journeys. Hong Kong wants to be its insurance hub.

The rapid expansion of China's commercial space industry is creating growing demand for specialised insurance products covering launches, satellites and other space-related risks, industry participants say. Photo: Weibo
Hong Kong economy

Opinion | Can Hong Kong make a giant leap to commercial space insurance?

The explosive growth of China’s commercial space business, combined with geopolitical realities, gives the city a captive market.

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China economy

Opinion | Can Hong Kong break London’s maritime insurance grip?

An alternative system is needed to end Washington and London’s ability to weaponise maritime insurance for their geopolitical ends.

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Hong Kong society

Initiative tackles insurance barriers for autistic children in Hong Kong

With fears of blanket refusals hanging over families, non-profit organisation has stepped in to help secure insurance through advocacy and support.

Sarah* (left) says she approached several insurance companies over about three months, but none could assure her that her son, now 18, would be eligible for cover because of his condition. Photo: Jonathan Wong
US-China tech war

Who pays when rockets explode? China rushes to insure SpaceX’s rivals

Wave of Chinese insurers is underwriting rockets and satellites, turning space risk into a new front in the China-US rivalry.

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The SpaceX rocket that blew up in 2016 in Cape Canaveral, Florida. Photo: EPA
Hong Kong economy

Opinion | Why Hongkongers should be very interested in the Pinglu Canal

China-Asean trade is expected to surge as the Pinglu Canal synergises with the Hainan free-trade zone – creating demand for services Hong Kong can provide.

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Banking & finance

Hong Kong banks tighten rules in mainland China as Beijing pores over outflows

Some banks are exercising more caution with offshore accounts for their mainland China clients amid tighter investment controls from Beijing.

Banking & finance

Why are Asia’s families eyeing liquid assets to secure their children’s wealth?

More of the continent’s parents are providing share portfolios and other assets for their offspring as confidence in property begins to wane.

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Illustration: Davies Christian
Hong Kong’s Tai Po fire tragedy

Hearing results key to compensation for Wang Fuk Court residents: experts

Legal and insurance experts say sale of flats to government won’t affect residents’ rights to claims but they must prove negligence had caused losses.

Seven of Wang Fuk Court’s eight blocks were destroyed in the catastrophic fire last November. The government has offered to buy back flats in all the blocks. Photo: Elson Li
Hong Kong’s Tai Po fire tragedy

Government to handle Wang Fuk Court insurance claims under buy-back plan: Hop On

But some residents who took part in second briefing by administrator say questions remain over how and when they can expect to receive compensation.

Hong Kong economy

Opinion | How war-risk marine insurance can set Hong Kong apart

Marine insurance is part of the power structure in global shipping. It reveals a real gap China still faces, which Hong Kong can fill.

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