Hong Kong insurers ride affluent demand to record sales as longevity and legacy needs grow
The News
Life insurance sales in Hong Kong surged 51% in the first quarter to a record HK$141.1 billion, driven by affluent customers from mainland China and overseas. These customers are purchasing policies for wealth transfer, protection, and medical needs. This marks the third consecutive year that first-quarter sales have hit a record high.
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The Analysis
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Sales rose 51% year-on-year to HK$141.1 billion.
Sales hit a record high of HK$141.1 billion in the first quarter.
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Key findings
Sales were driven by affluent customers from mainland China and overseas.
South China Morning Post- Sales rose 51% year-on-year to HK$141.1 billion.
- Driven by affluent customers from mainland China and overseas.
Plain English
Loaded language removedLife insurance sales in Hong Kong rose 51 per cent in the first quarter to another record high, driven by affluent customers from mainland China and overseas buying policies for wealth transfer, protection and medical needs.
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Claims
Sales were driven by affluent customers from mainland China and overseas.
South China Morning PostPolicies were bought for wealth transfer, protection and medical needs.
South China Morning PostLife insurance sales in Hong Kong rose 51% in the first quarter.
South China Morning PostSales hit a record high of HK$141.1 billion in the first quarter.
South China Morning PostPrevious year first-quarter sales were HK$93.4 billion.
South China Morning PostThis is the third year that first-quarter sales hit a record high.
South China Morning Post