It is difficult at present to judge the impact of insurance after-sales service centres until the Hong Kong regulators issue the next round of related regulations and guidelines, says Mr Erik Bleekrode, head of insurance at KPMG China & Asia Pacific.
Hong Kong's insurance industry is undergoing a significant shift as the "Hong Kong Business Insurance Rankings" reveal a trend towards more life insurers joining the list of the top 50 insurers.
The Guangdong-Hong Kong-Macau Greater Bay Area (GBA) and the Belt and Road Initiative will remain central themes of Hong Kong's bid to become a global risk management centre and regional insurance and reinsurance hub, said Mr Stephen Yiu, chairman of the Insurance Authority (IA).
New research by CoinJournal, a publication that focuses on cryptocurrency, looked at available data around major breaches and fraud since 2011 to reveal which Asian countries had experienced the most breaches and how crypto fraud has seen a record number of incidents in 2022.
Intermediaries were generally in compliance with the relevant regulatory requirements when they sold two tax-deductible products, namely Qualifying Deferred Annuity Policies (QDAP) and Mandatory Provident Fund Tax-Deductible Voluntary Contributions (TVC), according to the findings of a mystery shopping programme (MSP).
Hong Kong last month saw the issuance of its third insurance-linked securities (ILS), a catastrophe bond amounting to $32.5m.
Bupa (Asia) Limited, a health insurance specialist, and CoverGo, the leading global no-code insurance SaaS platform for health, P&C, and life, are joining forces to streamline Bupa's health insurance ecosystem in Hong Kong.
China's Sunshine Insurance Group shares opened in line with their issue price of HK$5.83 ($0.75) last Friday in the company's Hong Kong Stock Exchange debut.
Hong Kong is the top intended destination for mainland Chinese travellers who have endured nearly three years of restrictions and movement curbs according to a survey conducted by management consultants Oliver Wyman.
The 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through outreach programmes that focused on meeting the essential needs of communities and increasing educational opportunities for underprivileged children.