Hong Kong-headquartered FWD Group Holdings, has decided to postpone its initial public offering (IPO) for the second time in Hong Kong due to ongoing market volatility.
The recent devastating flooding following Super Typhoon Saola in Hong Kong and other parts of China and Japan may further pressure upcoming reinsurance renewals, in what has already been a hard market the last few years, according to a new AM Best commentary.
The total insurance claims due to the heavy flooding that inundated Hong Kong recently may be higher than those caused by Typhoon Mangkhut.
Nearly all respondents to a survey in Hong Kong and the wider Greater Bay Area (GBA) will consider sharing the personal data necessary to tailor products and services, with just 6% of respondents in Hong Kong and 10% in the wider GBA saying they only want to share basic required data with insurers.
Sun Life Hong Kong (Sun Life HK) has announced its receipt of approval from the Hong Kong Insurance Authority for the early adoption of the risk-based capital (RBC) regime.
Financial advice is a key factor in achieving higher levels of wealth, with 76% of financially abundant respondents across Hong Kong and Singapore saying that working with financial advisers has made them wealthier, according to a St James's Place Asia (SJP Asia) study.
FWD Group Holdings has announced that it continued to deliver strong organic growth in the first half of 2023, with value of new business of $482m, up by 22% compared to the corresponding half of 2022.
Life insurance new-business premiums derived from mainland Chinese visitors in the first half of 2023 surged to HK$31.89bn ($4.07bn), exceeding the HK$26.3bn reported for the first six months of 2019, before the emergence and spread of COVID-19.
The Hong Kong insurance industry shows a fall in total gross premiums of 1.4% to HK$295.7bn in the first half of 2023, according to provisional statistics released yesterday by the Insurance Authority (IA).
Prudential PLC has posted a 3.6% rise in first-half operating profit as the Asia-focused insurer benefited from a rebound in Chinese investors buying insurance products in Hong Kong, its key revenue centre, reported Reuters.