The Hong Kong government had “clearly stated” to the organiser of a failed hot-air balloon festival that the chance of approving passengers to ride in the aircraft was “extremely slim” and had recommended that it cancel the attraction and issue refunds ahead of time, the tourism chief has revealed. Making public the details for the…
The curtain has dropped on Hong Kong’s first hot-air balloon festival, which has made the headlines over the past few days after licensing issues led to the cancellation of much-awaited tethered rides. The event was also forced to close early due to a storm and left hundreds of ticket holders outraged. The Post unpacks the…
The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) could save up to HK$50 billion (US$6.4 billion) in fees over a 10-year period after its electronic platform’s full implementation next year, according to the city’s retirement schemes regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its original estimate made a few years…
Suicide has become the leading cause of death among insured young people in Hong Kong, accounting for a quarter of all deaths in this group, a study on insurance claims has found, warning that term life policyholders are a high-risk group. The Actuarial Society of Hong Kong announced on Tuesday that its research found the…
Seven major insurers, including AIA, AXA and HSBC Life, on Monday signed a pledge and joined a Hong Kong Insurance Authority programme to promote the adoption of artificial intelligence in the sector to enhance the city as a regional AI hub. FWD, Prudential, YF Life, and China Taiping Insurance (HK) also signed the pledge during…
The main talking point for Hui, the Secretary for Financial Services and the Treasury, has been a new law, enacted in May, that sought to make it easier for overseas companies to reincorporate in the city. Just a few days after the law came into force, Hui flew to Canada to meet senior executives from…
HONG KONG — AIA Group on Friday unveiled a $1.6 billion share buyback plan and reported an 18% rise in the value of new business last year, as the Hong Kong insurer saw strong growth in the city and mainland China. The value of new business, a metric for future profits from new premiums, rose…
Hong Kong stocks fell for the fifth straight day on Thursday, marking the longest losing streak in two months, as investors worried about the global economy amid escalating trade-war risks. The Hang Seng Index declined 0.3 per cent to 23,520.73 as of 9.45am local time, adding to a loss of 3.2 per cent since March…
A long-awaited health insurance product with the customer in mind is now readily available as AIA has just rolled out AIA Health X. AIA Health X is an innovative health insurance product that offers more benefits for healthy lifestyle customers. This product is designed to provide optimal health protection at an affordable price, with flexibility…