The majority of insurance advisers in Asia are optimistic about the economy, the outlook for the life insurance industry and sales growth, despite being in the midst of a pandemic, according to a survey conducted by Sun Life. It also finds that COVID-19 is having a polarizing effect in the industry as digital becomes a critical tool for sales performance.
The Hong Kong government has proposed launching a two-year Pilot Insurance linked Securities (ILS) Grant Scheme to attract insurance enterprises or organisations to issue ILS in the territory.
Rising economic activity, an expanding affluent population and policy incentives are providing new momentum for cross-border financial products in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), reported China Daily citing a study by consultancy Bain & Co.
The Manulife group of companies operating in Hong Kong and Macau ("Manulife Hong Kong") announced financial results for the fourth quarter and full year of 2020. Despite headwinds from the COVID-19 pandemic, both fourth-quarter and full-year core earnings grew 10% year-on-year to a record high driven by strong execution and momentum of its agency force.
The Manulife group of companies operating in Hong Kong and Macau (Manulife Hong Kong) has posted a 10% year-on-year increase in both fourth-quarter and full-year core earnings to a record high for 2020, despite headwinds from the COVID-19 pandemic.
The COVID-19 crisis and the ensuing lockdown measures have exacerbated levels of anxiety and stress among Hongkongers, who had been reeling from nearly a year of anti-government protests that had already led to a significant increase in post-traumatic stress disorder cases (PTSD).
"Now is the time for financial services companies to take advantage of the opportunities stemming from the Greater Bay Area, in order to ensure that they are primed to meet the customer demand moving forward," said Henrik Naujoks, Bain & Company's Asia Pacific Financial Services Leader, and co-author of the report "Are You Ready for the Financial Services Opportunities of China's Greater Bay Area?".
AXA Hong Kong and Macau announced the launch of "Wealth Ultra Savings Plan (2-year Pay)"("Wealth Ultra (2-year Pay)"), a participating life insurance plan with a short premium payment term of two years.
Mainland Chinese, Hong Kong and Macau authorities have agreed on the principles of supervisory cooperation under the cross-boundary Wealth Management Connect in the Greater Bay Area (GBA).
As the COVID-19 pandemic continues, AXA Hong Kong and Macau announced the launch of a series of free new physical and mental health protection and services for all Employee Benefits customers, supporting corporates and their employees in this critical time.