The Insurance Authority (IA) of Hong Kong has announced the extension of temporary facilitative measures for non-face-to-face distribution of specific protective insurance products to 31 March 2021 in view of the latest developments of the pandemic.
The COVID-19 pandemic along with a global economic downturn and heightened geopolitical tensions has ushered in a new era for the Belt and Road Initiative (BRI) and Hong Kong's role as a risk management centre for the BRI.
Hong Kong has seen the introduction of a protection policy that is said to be the first of this kind in the local insurance market.
Hong Kong SAR Chief Executive Carrie Lam unveiled the government's blueprint for insurance in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in her policy address 2020.
The Insurance Authority (IA) yesterday released provisional statistics of the Hong Kong insurance industry for the first three quarters of 2020, indicating a growth of total gross premiums by 5.5% to HK$461.1bn ($59.5bn) over the corresponding period in 2019.
While the overall underwriting profit in the general insurance sector in Hong Kong rose to HK$624m ($81m) for the first half of 2020 from HK$432m for the corresponding period last year driven by direct business, the Insurance Authority (IA) warns that cautious interpretation is required on the improvement of direct business underwriting profit.
The role of Hong Kong insurers in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) received a brief mention in the annual Poliicy Address delivered on 25 November by Hong Kong's Chief Executive, Ms Carrie Lam.
Manulife Hong Kong announces the launch of ManuGrand Saver 2 (MGS 2) and ManuImperial Saver 2 (MIS 2), two new enhanced savings plans that are built on their predecessors launched last year. The plans offer a feature to help customers better manage periods of financial uncertainty and allow for greater flexibility in legacy planning through a contingent life insured option.
HSBC Life has made two senior appointments in Hong Kong to "support its growth agenda while enhancing its ability to bring a multi-channel differentiated health and wellness proposition for individual and business customers".
HSBC Life has announced the following two senior appointments in Hong Kong to support its growth agenda while enhancing its ability to bring a multi-channel differentiated health and wellness proposition for individual and business customers.