New-business premium income generated in Hong Kong from mainland Chinese visitors soared by 200% to HK$2.07bn ($263m) in 2022, according to data released by the Hong Kong Insurance Authority (IA).
As cross-border travel between Hong Kong and mainland China fully resumes and residents travelling between the two locations become more frequent, their demand for medical healthcare services is also gaining momentum.
Manulife has appointed Ms Carrie Tong as Hong Kong and Macau COO. In her new role, she is responsible for driving operational strategies and leading the company's core insurance operations such as underwriting, claims, policy administration and customer service functions.
Pan-Asia insurer, FWD Group Holdings, a ompany owned by Hong Kong billionaire Richard Li, has filed for a third time for an initial public offering, reported Bloomberg.
The Insurance Authority (IA) has released provisional statistics of the Hong Kong insurance industry for 2022, showing that total gross premiums fell by 7.7% to HK$556bn ($70.8bn) over 2021.
The Hong Kong insurance industry has embraced gender equality and now sees more women in leadership positions.
Ping An P&C Insurance has been named as the insurer providing cover for a high-rise hotel development that was under construction when it was razed by fire for around nine hours on 2-3 March.
The blaze that broke out at a hotel construction project in Hong Kong's Tsimshatsui shopping and raged overnight on 2-3 March 2023 could cost insurers at least $25m.
Bowtie has appointed Mr James Lau to its board of directors as an independent non-executive director. With his in-depth familiarity with financial policy and financial technology accumulated in his work in the public sector and the government of Hong Kong, he brings an independent perspective at the board level.
The Hong Kong Federation of Insurers (HKFI) is seeking feedback from insurers regarding a proposed insurance industry climate charter. A member survey has been published to collect HKFI members' views on the detailed context of the industry charter, to ensure the finalised version will be in line with the market expectations. The HKFI had been conducting a consultancy study on green insurance to formulate and promote the climate charter.