AIA Group has published its first Climate Transition Plan, saying that it is the first pan-Asian life and health insurer to have its near-term science-based emissions reduction targets validated by the Science Based Targets initiative (SBTi), a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science.
The silver-haired generation in Hong Kong (people aged 50 and above) fares better in terms of overall mind health than the general population, while still being vulnerable to significant financial stress, according to the AXA Study of Mind Health and Wellbeing 2023 which assesses the state of mind health across the globe.
Hong Kong-based FTLife Insurance has reported an improvement in profitability in 2023 due to recovering demand from mainland Chinese customers after COVID-pandemic-related restrictions and border control between China and Hong Kong were eased, notes Fitch Ratings.
Financial advisers should closely monitor updates to laws like the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (AMLO) and ensure their clients' portfolios adhere to these regulations, said Mr Nigel Green, Chief Executive of the deVere Group, an advisory company which operates across the globe.
Revealing its financials for the third quarter of 2023, Manulife Hong Kong and Macau reported significant growth in its insurance operations, with annualised premium equivalent (APE) sales and core earnings witnessing an uptick by 57% and 50%, respectively, achieving HK$1.64 billion (US$210 million) and HK$1.49 billion.
Continuing from the robust half year results, the AIA Group achieved a substantial 35% in the value of new business (VONB) to US$994 million in the third quarter of 2023.
The global pension index value of Hong Kong's pension system decreased to 64.0 in 2023 from 64.7 in 2022, primarily due to updated OECD data, according to the Mercer CFA Institute Global Pension Index 2023 report.
The Insurance Authority (IA) and the Independent Commission Against Corruption (ICAC) have entered into a memorandum of understanding (MoU), which sets out the framework for handling corruption crimes relating to the insurance industry.
The winners of the Hong Kong Insurance Awards 2023 were revealed at a prize presentation ceremony cum gala dinner held on 25 October 2023 at the Grand Hyatt, Hong Kong.
Shenzhen Shouhui Technology Group, a Chinese online insurance platform, is considering an initial public offering in Hong Kong as soon as next year, reported Bloomberg citing people familiar with the matter.