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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
The watchdog of China’s banking and insurance industries gave insurers the go-ahead to access Hong Kong-listed ETFs through the cross-border Stock Connect programme last month. Photo: Shutterstock
Hong Kong stock market

Hong Kong stocks eye fresh inflows from mainland China’s insurers

Volume spike in exchange-traded funds seen as evidence insurers are taking advantage of recent regulator approval to diversify their assets.

Banking & finance

Mainland Chinese tax drive flags Hong Kong MPF accounts as offshore trusts

Banking & finance

Hong Kong insurers forge tech alliances amid Beijing’s tightened tax rules

Banking & finance

China’s capital injection a first step to easing financial strains: analysts

Capital boost strengthens buffers of financial institutions, but stronger fiscal support is needed to reignite credit demand, observers say.

The recent capital injection alone is not enough to ease the pressures facing financial institutions, according to analysts. Photo: Shutterstock
Banking & finance

China’s capital injection steels banks, insurers for rough road ahead

US$54 billion recapitalisation comes amid squeeze on commercial banks’ earnings and push for insurers to bolster the liquidity of Chinese stock markets.

Banking & finance

China pumps massive US$54b into insurers, banks in financial powerhouse push

The rare capital boost of such magnitude seeks to shore up insurers and banks as solvency pressures mount and regulatory demands loom.

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US-China relations

Opinion | US and China must team up to keep maritime trade routes free and safe

The Strait of Hormuz crisis shows neither state benefits when key waterways can become instruments of political pressure or economic coercion.

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Illustration: Henry Wong
Mainland China

China Life’s revenue surges as insurer plans deeper push into AI and biotech

Company pledges long-term support for tech-innovation after revenue jumps 81 per cent and net profit soars 228 per cent.

Banking & finance

Hong Kong expands AI sandbox with new projects spanning dozens of partners

Regulators select 36 use cases involving dozens of financial institutions and tech partners to test AI use in onboarding, payments, claims and customer service.

Hong Kong workers/labour rights

Letters | Hong Kong should study the mainland gig worker insurance model

Readers discuss labour protection for delivery riders, and a new era for India-Bangladesh relations.

A food delivery rider in Mong Kok in 2025. When Deliveroo exited the Hong Kong market, many delivery workers were left without compensation. Photo: Sam Tsang
IA

Prudential’s new business profit growth slows, US$300m share buy-back announced

New business profit increases 8 per cent to US$1.38 billion in first half as market braces for potential fall in number of mainland visitors.

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A banner featuring the Prudential logo atop a building in Tsim Sea Tsui, Hong Kong. Photo: Handout
Banking & finance

Ping An eyes Hong Kong ETFs after nod on cross-border investment

China’s largest insurer downplays tax changes, shares positive outlook after reporting 36 per cent profit growth.

Ping An Insurance

Chinese insurer Ping An’s profit rises 36% on policy sales, investments

Earnings beat analysts’ estimates, with performance mainly driven by increase of new life policies and investment gains.

AIA

Mainland Chinese investors continue to buy insurance policies in Hong Kong: AIA

AIA sees value of new business rise 10 per cent year on year to record high of US$3.21 billion in the first half.

AIA senior executive Jacky Chan on Thursday. Photo: Jonathan Wong
Hong Kong property

Prudential Hong Kong expands headquarters across Swire Properties’ towers

Company boosts office footprint despite insurance sector’s concerns over China’s tax clampdown.

The expansion positions Prudential for its next phase of growth, according to the company. Photo: Getty Images
Banking & finance

Beijing urges mainland insurers to invest in Hong Kong-listed ETFs

Hong Kong’s status as global financial centre receives a boost as China’s financial regulator touts city’s exchange-traded funds.

Wealth management

Even Hong Kong’s rich expect to work past retirement age, survey says

More people plan to work longer and ‘blend work, family responsibilities and personal aspirations’, Manulife Hong Kong CEO says.

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United States

Luigi Mangione pleads guilty in federal case, admits he killed insurance CEO

Resolving the federal case ⁠could allow Mangione to seek dismissal of state murder charges under New York’s double jeopardy law.

Luigi Mangione attends a pre-trial appearance at Manhattan Criminal Court in New York City on Tuesday. Photo: Reuters
Hong Kong

Insurance Authority to prioritise broadening of regional clientele: CEO

In response to changes to mainland tax enforcement, Clement Cheung says city has to make itself ‘less vulnerable and more competitive’.

Banking & finance

Hong Kong insurers to weather Beijing’s tax shift with 8-10% premium growth: S&P

Credit-rating agency says heightened scrutiny likely to create compliance hurdles, not destroy demand.

IA

Exclusive | Hong Kong to reappoint insurance regulator as industry braces for tough period

Insurance Authority CEO Clement Cheung will be reappointed on Friday to help industry navigate Beijing’s tax clampdown, sources said.

Insurance Authority CEO Clement Cheung. Photo: Handout
Gun violence in the US

Luigi Mangione expected to plead guilty in US CEO killing

Prosecutors will recommend he serve life in prison for the fatal shooting of UnitedHealth Group executive Brian Thompson.

Luigi Mangione appears at Manhattan Criminal Court in New York on Tuesday. Photo: Reuters
Chinese offshore investment

Opinion | Beijing’s offshore insurance tax tests Hong Kong wealth management

While markets initially fell, more transparent cross-border oversight could strengthen the city’s credibility as a wealth management centre.

HSBC

HSBC reshuffles insurance division after CEO’s surprise departure: internal memo

Two Asia-based executives will replace outgoing global insurance CEO Edward Moncreiffe, who has resigned, according to a company document.

Hong Kong property

Hong Kong property recovery faces new risk as Beijing widens offshore tax net

Potential taxation of offshore property income could curb mainland demand, while weaker insurance activity hits decentralised office markets.

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Testing times could lie ahead for Hong Kong’s property market if Beijing’s crackdown on offshore wealth extends to offshore rental income and capital gains tax, affecting investors. Photo: Sam Tsang
Banking & finance

Don’t panic: China says 20% offshore insurance tax does not target Hong Kong

Beijing urged the market not to overreact to the policy – which it stressed was not new – after reports of the tax triggered a sell-off in Hong Kong.

The share prices of major financial firms in Hong Kong dipped on Thursday, after reports of that Chinese authorities had started levying a 20 per cent tax on gains from offshore insurance policies. Photo: SCMP/Sam Tsang
Hong Kong stock market

As Hong Kong shares react to 20% levy report, investors eye Beijing’s next steps

Prudential, AIA and HSBC slid following report of the insurance levy, though Goldman Sachs says profit fallout may be limited.

Wealth management

Sun Life targets Asia’s booming wealth transfer market with new platform

Insurer joins global scramble to serve Asian clients looking to transfer wealth to next generation via insurance products.

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