FWD Life Insurance Company (Bermuda) Limited has been ordered to pay a HK$19.5m penalty by Hong Kong's insurance regulator over shortcomings in the insurer's controls on third-party payments. The Insurance Authority (IA) imposed the penalty following an on-site inspection under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).
Zhibao Technology announced that its reinsurance subsidiary, Zhibao Labuan Reinsurance Company (Zhibao Labuan Re), is expanding its operations into Hong Kong and Southeast Asia.
Mainland Chinese Insurers are investing in Hong Kong exchange traded funds (ETFs) after regulators cleared such activity last month.
Lockton has appointed Ms Victoria Yow as Head of People Solutions, Hong Kong.
The Hong Kong insurance regulatory authority, The Insurance Authority, plans to integrate insurance into urban planning to ensure the city's resilience against climate change.
Sun Life Hong Kong has launched a new premium healthcare ecosystem aimed at providing patients with structured administrative and medical support before treatment begins.
The commitments on making private healthcare costs clearer and protection of retirement savings as the population ages, in the 2026 Policy Address and Hong Kong's first Five-Year plan for Economic and Social Development (2026-2030) will benefit millions of Hong Kong people, according to the Actuarial Society of Hong Kong (ASHK).
Hong Kong has unveiled the Hong Kong Special Administrative Region's first Five-Year Plan for Economic and Social Development for 2026-2030, setting out the city's strategic direction for economic and social development over the medium to long term. This was announced by Hong Kong Chief Executive John Lee on 16 September.
At a panel session hosted by the Insurance Authority (IA) at the Belt and Road Summit, corporate executives and risk experts discussed the evolving risk spectrum faced by Chinese Mainland enterprises expanding globally, available risk management tools and how Hong Kong can serve as an 'one-stop' risk advisor.
Insurers in Hong Kong are increasingly using AI in sales and underwriting processes, with new tools designed to provide advisers with faster preliminary assessments, reported Hubbis.