Life Insurance | South China Morning Post
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  • Feb 1, 2015
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Life Insurance

Chinese tourists buy 16pc of life insurance sold in Hong Kong

Mainland visitors are not buying only luxury products when they visit Hong Kong but also insurance policies. Photo: Dickson Lee

More mainland tourists are buying insurance in Hong Kong - spending HK$15 billion last year - a trend industry insiders fear could lead to complaints if sales are not handled carefully.

Tuesday, 8 April, 2014, 1:56am 2 comments

Sales of traditional insurance products benefit from tighter rules on investment-linked policies

Tay Keng Puang says an ageing population has boosted the demand for annuity products in Hong Kong in recent years. Photo: Jonathan Wong

A tightening of the regulations on investment-linked insurance policies since July has made insurers shift focus to basic life policies and annuity products, a trend industry players expect to continue this year.

1 Apr 2014 - 3:08am

Strong profit growth forecast for Chinese life insurers

Profit growth at China Life is estimated to be as high as 120 per cent year on year. Photo: Reuters

The mainland's life insurers are poised to report robust growth in profit last year on the back of strong investment income, but the value of new business for most firms is expected to have remained stagnant amid fierce competition.

The reporting season for mainland insurers will begin on Thursday, when Ping An Insurance is set to release its results.

10 Mar 2014 - 11:39pm

Golden week visitors add insurance to the shopping list

The bags may look full but mainlanders are finding extra space to pack away some life insurance while visiting Hong Kong. Photo: Thomas Yau

Besides gold jewellery, baby milk powder, cosmetic products and luxury flats, it seems life insurance policies are now on the shopping list of cashed-up mainland tourists when they visit Hong Kong for the golden week holiday.

2 May 2013 - 5:53am 2 comments

Sacked insurance staff stage protest at HSBC offices in Shanghai

HSBC Life Insurance fired its sales team of about 130 staff. Photo: AFP

HSBC Life Insurance, a 50-50 joint venture with National Trust, fired its sales team of about 130 staff in what the largest bank in Europe said was a plan to focus on bancassurance.

21 Mar 2013 - 5:33am

China Taiping Insurance may buy asset from parent firm

China Taiping Insurance may buy asset from parent firm

China Taiping Insurance may consider acquiring a stake in a life insurance unit from its parent firm, China Taiping Insurance Group, a move analysts said would help prepare the group for a stock exchange listing.

15 Jan 2013 - 4:15am

AIA shares fall on AIG stake sale

AIA shares fall on AIG stake sale

Shares of AIA declined yesterday after American International Group (AIG) priced the sale of its remaining stake in the Hong Kong-listed insurer near the top end of the indicative range.

19 Dec 2012 - 2:37am

AIG to offload remaining stake in AIA for US$6.5b

American International Group has operated life insurance and pension businesses through AIA for more than 90 years. Photo: Bloomberg

American International Group (AIG) plans to sell its remaining stake in Hong Kong-listed insurer AIA to raise up to US$6.5 billion, marking the end of the US financial group's almost century-old association with the Asian insurer.

18 Dec 2012 - 3:51am

Fitch: China life insurance premium income growth limited

Fitch has a stable outlook for insurers' profitability.

Mainland life insurers' premium income growth would continue to be limited as a result of lower returns to policyholders due to weak stock markets and rising competition from banks, Fitch Ratings said yesterday.

11 Dec 2012 - 2:55am

Foreign insurance firms expect strong growth in China

Charoen Pokphand, a diversified group, is a major food processor and to be a big shareholder of Ping An Insurance. Photo: Reuters

Foreign insurance companies operating on the mainland expect to post strong growth over the next three years, driven by China's rapid economic expansion and the low penetration rate of insurance products.

11 Dec 2012 - 2:55am

PICC makes strong debut on HKEx

PICC chairman Wu Yan at the listing ceremony. His company raised eyebrows with a strong trading debut. Photo: Jonathan Wong

People's Insurance Co (Group) of China, the mainland's largest non-life insurer, raised investors' eyebrows on its debut in Hong Kong yesterday, jumping as much as 8.05 per cent at one point.

8 Dec 2012 - 3:46am

Stock Watch: life insurance

Upwardly mobile: markets think AIA is worth about 46 times the value of a year of new business. Photo: Bloomberg

Many of us have bought life insurance, but what about buying shares in life insurance companies?

The industry is a black hole to investors who struggle to see how such companies create value and make money.

3 Dec 2012 - 4:26am

Your life in the balance

David Knights, general manager at Friends Provident International, says demand for its pure protection life insurance product is strongest and has increased by 40 per cent in the past 12 months. Photo: Thomas Yau

Ensuring the right level of life insurance is the foundation to all sensible - and pre-emptive - financial planning, writes Nicky Burridge.

18 Sep 2012 - 4:32pm

Ask Melanie: Life insurance

I want to ensure my family is looked after if I die. Should my life insurance policy include a savings plan or should I keep this separate?        

Insurance policies that combine death benefits with a savings plan are common in Hong Kong and it's not hard to see why.

17 Sep 2012 - 3:27pm

Marketing Death: Culture and the Making of a Life Insurance Market in China

Marketing Death: Culture and the Making of a Life Insurance Market in China by Cheris Chan Oxford U Press

Marketing Death is a detailed study of how life insurance companies sell policies in a country where death is a taboo subject.

13 May 2012 - 12:00am

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