“FWD Group has come a long way since we founded the company in Hong Kong in 2013, with a mission of moving the life insurance industry in a new direction – centred around the unique needs of customers, leveraging the latest technology,” he said. Source link
“Demand for life insurance in Hong Kong has grown from customers in the Middle East, Southeast Asia, and Mainland China. Factors such as better coverage, competitive premiums, and better returns on Hong Kong dollar-denominated policies have increased the demand among customers from the Greater Bay Area (GBA) and the Middle East,” he said. Source link
The market also saw the issuance of 70,000 qualifying deferred annuity plans, which generated HK$4.5 billion in premiums, representing 2.1% of the individual business. Mainland Chinese policyholders accounted for HK$62.8 billion in new premiums, with their purchases comprising whole life, critical illness, and medical insurance products. Source link
“The growth of the general insurance industry in Hong Kong (China SAR) is supported by rising demand for personal accident and health insurance from local and non-local customers, including mainland Chinese residents, the unpredictability of climate events, and the increasing demand for cyber insurance,” he said. Source link