Hongkongers live longer than most people, but they think that their early-to-mid 60s will be dogged by poor health according to Manulife Asia Care Survey 2023.
Hongkongers expect their later years to be dogged by poor health, a period many think will start when they enter their early-to-mid sixties, according to the Manulife Asia Care Survey 2023. These findings show there is a compelling need for people in Hong Kong to have a savings plan in place to help with the medical costs in later life.
The World Bank has listed a $350m catastrophe bond on Hong Kong Exchanges and Clearing (HKEX) which provides the Government of Chile with financial protection against severe earthquake events for the next three years. This is the first World Bank bond and the first cat bond ever listed on the Hong Kong exchange.
Many pet insurance products have emerged on the market in recent years, providing a variety of medical, hospitalisation, and other areas of coverage, notes the Hong Kong Consumer Council.
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.