https://www.scmp.com/rss/520145/feed Manulife Financial Corporation is Canada’s largest insurer and a leading international financial services provider. With its global headquarters in Toronto, Canada, it provides financial advice and insurance. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Manulife, HSBC Holdings and Barclays are among the big financial firms that have announced plans to boost their adoption of artificial intelligence, in line with the Hong Kong government’s efforts to promote the use of the technology. Manulife last week said it had relocated Mark Czajkowski, chief AI officer for Asia, to Hong Kong from Singapore, and had appointed Liu Hongjuan as chief AI and data officer of Manulife Hong Kong and Macau, a newly created post, on March 9. HSBC Holdings, the... https://www.scmp.com/business/banking-finance/article/3348897/manulife-hsbc-barclays-among-big-finance-firms-pushing-ai-adoption-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348897/manulife-hsbc-barclays-among-big-finance-firms-pushing-ai-adoption-hong-kong?utm_source=rss_feed Fri, 03 Apr 2026 09:00:08 +0000 Owen Goulding Owen Goulding Hugh Bowman partners up with a pair of DBS x Manulife Million Challenge hopefuls at Happy Valley on Wednesday night and could be set for a big evening himself with a plethora of chances. The Million Challenge, which began on September 10, has been open to horses at Class Three level and above, with the winner taking home HK$1 million in prize money. The winner of each eligible race receives 15 points, while second nets six, third gets four and fourth secures three. That means the current leader... https://www.scmp.com/sport/racing/article/3342242/hugh-bowman-hopes-storm-rider-can-rise-occasion-million-challenge-bid-happy-valley?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3342242/hugh-bowman-hopes-storm-rider-can-rise-occasion-million-challenge-bid-happy-valley?utm_source=rss_feed Tue, 03 Feb 2026 09:17:33 +0000 Jay Rooney Jay Rooney Frankie Lor Fu-chuen is confident Regal Gem can capitalise on his light weight and clinch the DBS x Manulife Million Challenge crown in the series finale at Happy Valley on Wednesday night. Leading the Million Challenge on 42 points, Regal Gem will carry only 116lb when he faces several leading series rivals in the Class Two Blue Pool Handicap (1,200m). The annual Million Challenge is for runners of all races Class Three and above from September 10 until Wednesday night, with points awarded to... https://www.scmp.com/sport/racing/article/3342105/frankie-lor-eyes-dbs-x-manulife-million-challenge-glory-regal-gem-happy-valley?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3342105/frankie-lor-eyes-dbs-x-manulife-million-challenge-glory-regal-gem-happy-valley?utm_source=rss_feed Mon, 02 Feb 2026 09:18:19 +0000 Owen Goulding Owen Goulding An emotional David Hayes trained his 700th winner in Hong Kong after a race-to-race double in the famous Lindsay Park Racing silks at Happy Valley on Wednesday evening. The two-time Hong Kong champion trainer has endured a nightmare month away from the track, with a bushfire in Australia destroying 90 per cent of the infrastructure at his family stable and causing the loss of seven horses. China Win provided Hayes with a winner the day he returned to Hong Kong from battling those bushfires with... https://www.scmp.com/sport/racing/article/3341592/form-david-hayes-rings-700th-hong-kong-win-emotional-happy-valley-double?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3341592/form-david-hayes-rings-700th-hong-kong-win-emotional-happy-valley-double?utm_source=rss_feed Wed, 28 Jan 2026 15:39:40 +0000 Enoch Yiu Enoch Yiu French insurer AXA’s Hong Kong unit, one of the city’s largest life and general insurers, has become the second insurance company to move its domicile to Hong Kong from Bermuda, according to a statement on Monday. At least three other local insurers, including the local unit of Canada’s Sun Life, were planning the same move after a law change in May simplified the process, according to industry players. AXA was the first to begin the process after the rule change, but Manulife International was... https://www.scmp.com/business/companies/article/3341152/axas-local-unit-becomes-second-insurer-redomicile-bermuda-hong-kong?utm_source=rss_feed https://www.scmp.com/business/companies/article/3341152/axas-local-unit-becomes-second-insurer-redomicile-bermuda-hong-kong?utm_source=rss_feed Mon, 26 Jan 2026 01:15:10 +0000 Enoch Yiu Enoch Yiu Life insurance sales in Hong Kong rose 56 per cent in the first nine months of last year to another record as affluent customers continued to buy policies in the city for wealth transfer, protection and medical needs. The industry wrote HK$264.5 billion (US$34 billion) worth of new policies from January to September, compared with HK$169.6 billion a year earlier, according to data from the Insurance Authority on Friday. It was the highest figure for the corresponding period since the authority... https://www.scmp.com/business/banking-finance/article/3340977/wealthy-investors-policy-purchases-propel-hong-kong-life-insurance-sales-another-peak?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340977/wealthy-investors-policy-purchases-propel-hong-kong-life-insurance-sales-another-peak?utm_source=rss_feed Fri, 23 Jan 2026 09:30:09 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) issued requirements on Wednesday for banks to improve their services for elderly customers, as the proportion of the city’s population over the age of 65 increases rapidly. Banks will be required to upgrade their apps to meet the needs of elderly customers, improve branch facilities and ensure that staff members provide appropriate advice on investments, insurance and pension products. “As Hong Kong faces an ageing population, we expect more elderly... https://www.scmp.com/business/banking-finance/article/3340699/hong-kong-banking-authority-presses-lenders-shape-services-senior-customers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340699/hong-kong-banking-authority-presses-lenders-shape-services-senior-customers?utm_source=rss_feed Wed, 21 Jan 2026 10:15:13 +0000 Lam Ka-sing Lam Ka-sing Hong Kong’s corporate landscape expanded to unprecedented levels last year, with the total number of local registered companies reaching a record of nearly 1.56 million by the end of 2025. “By the end of 2025, the total number of local companies and redomiciled companies registered under the Companies Ordinance increased by 96,609 compared with 2024, reaching 1,557,103,” the Companies Registry said on Friday, noting that it was “an all-time high figure”. Among the total in 2025, 195,343 were... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340175/number-registered-companies-hong-kong-reaches-record-156-million-2025?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340175/number-registered-companies-hong-kong-reaches-record-156-million-2025?utm_source=rss_feed Fri, 16 Jan 2026 09:56:13 +0000 Enoch Yiu Enoch Yiu Manulife (International), one of the biggest life insurers and pension providers in Hong Kong and Macau, has finished moving its domicile to Hong Kong from Bermuda, making it the first insurer to successfully complete the process under a new regime, according to a statement on Friday. The insurer said the redomiciling was a “strategic milestone” that underscored its confidence in Hong Kong’s role as a leading international financial centre and reinforced the company’s long-standing commitment to... https://www.scmp.com/business/companies/article/3336273/manulife-becomes-first-insurer-redomicile-hong-kong?utm_source=rss_feed https://www.scmp.com/business/companies/article/3336273/manulife-becomes-first-insurer-redomicile-hong-kong?utm_source=rss_feed Fri, 12 Dec 2025 11:50:36 +0000 Enoch Yiu Enoch Yiu Hong Kong’s rapidly greying population is creating both policy headaches and fresh business opportunities, from stronger demand for health insurance and retirement products to a growing market for medical services across the border, according to industry leaders. “The ageing population of Hong Kong brings challenges, but at the same time it also adds new business opportunities,” said Stephen Yiu Kin-wah, chairman of the Insurance Authority, at the Asian Insurance Forum on Monday. The government... https://www.scmp.com/business/article/3335637/ageing-hong-kong-opens-new-frontiers-insurers-pensions-and-cross-border-care?utm_source=rss_feed https://www.scmp.com/business/article/3335637/ageing-hong-kong-opens-new-frontiers-insurers-pensions-and-cross-border-care?utm_source=rss_feed Mon, 08 Dec 2025 23:30:08 +0000 Enoch Yiu Enoch Yiu The Hong Kong Insurance Authority has directed insurers to move quickly to assist victims of the Tai Po fire by directly contacting policyholders to help them claim compensation for about 12,000 insurance policies, according to CEO Clement Cheung Wan-ching. Cheung on Monday updated the figures on insurance policies affected by the 43-hour blaze that started on November 26 at Wang Fuk Court, saying 35 life insurance companies – including AIA and Manulife – had identified 10,000 life, medical and... https://www.scmp.com/business/banking-finance/article/3335594/hong-kong-insurers-mobilise-help-fire-victims-claim-payouts-12000-policies?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3335594/hong-kong-insurers-mobilise-help-fire-victims-claim-payouts-12000-policies?utm_source=rss_feed Mon, 08 Dec 2025 08:15:16 +0000 Enoch Yiu Enoch Yiu About 30 Hong Kong-based insurance companies, including AIA and Manulife, have issued 7,600 life insurance and 1,100 property policies to policyholders listed as residing at Wang Fuk Court, according to the Insurance Authority. Insurance Authority CEO Clement Cheung Wan-ching said the authority had set up a special task force, led by senior executives, to urge all insurers to identify policyholders affected by the blaze at Wang Fuk Court last week that killed 159 people, injured 79 and left an... https://www.scmp.com/business/companies/article/3335091/hong-kong-insurers-identify-8700-life-and-property-policies-owned-tai-po-fire-victims?utm_source=rss_feed https://www.scmp.com/business/companies/article/3335091/hong-kong-insurers-identify-8700-life-and-property-policies-owned-tai-po-fire-victims?utm_source=rss_feed Wed, 03 Dec 2025 12:25:12 +0000 Enoch Yiu Enoch Yiu Life insurance sales in Hong Kong rose 50 per cent in the first half of this year to a fresh record high on the back of increased demand for wealth management and estate planning from high-net-worth individuals in the city and mainland China. The industry wrote HK$173.7 billion (US$22.3 billion) worth of new life policies in the six months to June, up from HK$115.9 billion a year earlier, according to data released by the Insurance Authority on Friday. It was the highest first-half-year sales... https://www.scmp.com/business/banking-finance/article/3330198/hong-kong-life-insurance-sales-hit-record-us223-billion-high-net-worth-demand?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330198/hong-kong-life-insurance-sales-hit-record-us223-billion-high-net-worth-demand?utm_source=rss_feed Fri, 24 Oct 2025 07:42:31 +0000 Aileen Chuang Aileen Chuang A unit of PetroChina Investment (Hong Kong) has become the first approved company to reincorporate in the city under a new law, with the government highlighting the high number of inquiries it has received from companies seeking to redomicile. The Financial Services and the Treasury Bureau (FSTB) said on Wednesday that the PetroChina Investment unit received a certificate of re-domiciliation from the Companies Registry. This marks the first such case after the government introduced the company... https://www.scmp.com/business/companies/article/3329975/petrochina-unit-first-reincorporate-hong-kong-under-re-domiciliation-law?utm_source=rss_feed https://www.scmp.com/business/companies/article/3329975/petrochina-unit-first-reincorporate-hong-kong-under-re-domiciliation-law?utm_source=rss_feed Wed, 22 Oct 2025 13:43:22 +0000 SCMP Editorial SCMP Editorial Two listed firms under China Resources Group are planning to redomicile from the Cayman Islands to Hong Kong. They will follow similar actions by the Hong Kong units of French insurer AXA and Canadian insurer Manulife, both from Bermuda. Thanks to new changes in local law, such redomiciling is becoming a trend and can only be good for corporate business and professional employment in the city. Business 101 usually explains the difference between the domicile of a company and its headquarters.... https://www.scmp.com/opinion/comment/article/3327783/firms-redomiciling-hong-kong-can-only-be-good-business?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3327783/firms-redomiciling-hong-kong-can-only-be-good-business?utm_source=rss_feed Sun, 05 Oct 2025 23:15:12 +0000 Enoch Yiu Enoch Yiu Hong Kong insurance companies and brokers from Wednesday are barred from paying excessive referral fees to unlicensed individuals, as the city’s insurance regulator bolsters efforts to curb misconduct and enhance customer protection. The city’s Insurance Authority has put a 50 per cent cap on commissions for referral fees in life insurance policies, a move that provides long-term life protection and dividends to policyholders, according to the regulator’s circular. The cap will not cover... https://www.scmp.com/business/article/3327432/hong-kong-regulator-puts-50-cap-referral-fees-insurance-sales?utm_source=rss_feed https://www.scmp.com/business/article/3327432/hong-kong-regulator-puts-50-cap-referral-fees-insurance-sales?utm_source=rss_feed Wed, 01 Oct 2025 05:00:10 +0000 Harvey Kong Harvey Kong The latest edition of Hong Kong’s largest annual LGBTQ carnival will be held online after organisers were unable to secure a venue at the West Kowloon Cultural District. In a social media post on Saturday, organisers of Pink Dot HK 2025 said that this year’s event would be held as an online concert, with Cantopop stars Marife Yau Yin-tung, also known as Marf, from girl group Collar and On Chan as its ambassadors. “There may still be a storm, but our original intention remains. Love will forever... https://www.scmp.com/news/hong-kong/society/article/3327118/hong-kongs-pink-dot-hold-online-concert-after-bid-hire-art-park-declined?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3327118/hong-kongs-pink-dot-hold-online-concert-after-bid-hire-art-park-declined?utm_source=rss_feed Sat, 27 Sep 2025 16:13:22 +0000 Enoch Yiu Enoch Yiu HSBC Holdings, Hong Kong’s largest lender, on Tuesday opened a 23,000-square-foot wealth management centre in the International Commerce Centre (ICC), which is expected to give a boost to the city’s struggling office market and help the bank serve its wealthy clients. The centre is located on the 99th floor of the ICC and it is HSBC’s largest wealth management office globally. It features 51 meeting rooms for 100 staff to meet with clients, plus two event spaces that can host banquets for up to... https://www.scmp.com/business/banking-finance/article/3324777/hsbc-opens-wealth-centre-way-icc-boost-hong-kongs-weak-office-rental-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3324777/hsbc-opens-wealth-centre-way-icc-boost-hong-kongs-weak-office-rental-market?utm_source=rss_feed Tue, 09 Sep 2025 02:15:07 +0000 Enoch Yiu Enoch Yiu The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) could save up to HK$50 billion (US$6.4 billion) in fees over a 10-year period after its electronic platform’s full implementation next year, according to the city’s retirement schemes regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its original estimate made a few years earlier of HK$30 billion to HK$40 billion in savings from fee reduction because the digital platform, called eMPF, worked better than... https://www.scmp.com/business/article/3323749/hong-kongs-empf-could-save-us65-billion-members-10-years-regulator-says?utm_source=rss_feed https://www.scmp.com/business/article/3323749/hong-kongs-empf-could-save-us65-billion-members-10-years-regulator-says?utm_source=rss_feed Sun, 31 Aug 2025 01:00:16 +0000 Lo Hoi-ying Lo Hoi-ying Suicide is the leading cause of death among insured people aged under 25 in Hong Kong, an insurance claim study has found, with a professional body warning that holders of term life policies are a high-risk group. The Actuarial Society of Hong Kong said on Tuesday that its research found that the suicide rate related to insurance death claims involving residents aged under 25 had risen from 9 per cent in 2001 to 25 per cent in 2022, with the incidence higher than in other groups. The study,... https://www.scmp.com/news/hong-kong/society/article/3323202/suicide-rate-among-insured-young-people-hong-kong-surges-25-study-finds?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3323202/suicide-rate-among-insured-young-people-hong-kong-surges-25-study-finds?utm_source=rss_feed Tue, 26 Aug 2025 09:17:38 +0000 Sasha Gonzales Sasha Gonzales Singaporean Lesley Quak is proactively “engineering” her longevity, striving to not just live longer but healthier, too. Less than a decade ago, the financial services director at insurance company AIA Singapore suffered from high cholesterol and high blood pressure. She was also slightly overweight and felt sluggish all the time. “It was like my body was working against me, and I was worried about what the future held for my health,” says Quak, 65, who is married with one son. Keen to lower her... https://www.scmp.com/lifestyle/health-wellness/article/3321200/how-age-well-singaporean-companies-gamify-health-blue-zone-30-bid?utm_source=rss_feed https://www.scmp.com/lifestyle/health-wellness/article/3321200/how-age-well-singaporean-companies-gamify-health-blue-zone-30-bid?utm_source=rss_feed Sun, 10 Aug 2025 23:15:09 +0000 Enoch Yiu Enoch Yiu More than half of Hong Kong residents do not plan to retire at the typical retirement age of 65, with many feeling that they cannot reach the average HK$5 million (US$637,000) savings target necessary for a comfortable post-work life, according to the T. Rowe Price Hong Kong Retirement Survey released on Thursday. About 52 per cent of respondents indicated they would not retire at age 65. Among them, about 80 per cent preferred not to retire at all or opted instead for a “micro-retirement”,... https://www.scmp.com/business/banking-finance/article/3321014/over-half-hong-kong-residents-plan-work-past-65-due-retirement-savings-shortfall?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321014/over-half-hong-kong-residents-plan-work-past-65-due-retirement-savings-shortfall?utm_source=rss_feed Thu, 07 Aug 2025 03:30:10 +0000 Lo Hoi-ying Lo Hoi-ying The 11th edition of Hong Kong’s largest LGBTQ carnival has been cancelled after the West Kowloon Cultural District Authority backed out of offering an event venue without giving any reason, organisers have said. The organising committee for Pink Dot HK said on Thursday that this year’s free pride event, which was originally scheduled for October 12, would be cancelled as they could not secure a venue. The team also apologised to everyone involved. The organisers said they had spoken with the... https://www.scmp.com/news/hong-kong/society/article/3320312/hong-kongs-largest-annual-lgbtq-carnival-cancelled-after-host-venue-backs-out?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3320312/hong-kongs-largest-annual-lgbtq-carnival-cancelled-after-host-venue-backs-out?utm_source=rss_feed Thu, 31 Jul 2025 11:03:47 +0000 Enoch Yiu Enoch Yiu Hong Kong’s pension regulator said the number of millionaires in its scheme doubled as the total assets of the Mandatory Provident Fund (MPF) reached an all-time high of HK$1.4 trillion (US$178 billion) as of June, an increase of 130 per cent from 10 years earlier. In a blog post on Sunday, Mandatory Provident Fund Schemes Authority (MPFA) chairwoman Ayesha Macpherson Lau said around 125,000 MPF members had assets of more than HK$1 million, double the tally from five years earlier. The MPFA... https://www.scmp.com/business/banking-finance/article/3319645/number-millionaires-hong-kong-mpf-doubles-assets-hit-us178-billion-mpfa-chair?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3319645/number-millionaires-hong-kong-mpf-doubles-assets-hit-us178-billion-mpfa-chair?utm_source=rss_feed Sun, 27 Jul 2025 02:00:29 +0000 Enoch Yiu Enoch Yiu Life insurance sales in Hong Kong rose 43 per cent in the first quarter to a record high on demand for protection and estate planning from high-net-worth customers and visitors from mainland China, as the city seeks to become a wealth management hub to rival global leaders like Switzerland. The industry wrote HK$93.4 billion (US$12 billion) worth of new life policies, up from HK$65.3 billion a year earlier, the Insurance Authority said on Friday. It was the highest first-quarter sales tally... https://www.scmp.com/business/banking-finance/article/3319596/hong-kong-life-insurance-sales-jump-43-record-high-first-quarter?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3319596/hong-kong-life-insurance-sales-jump-43-record-high-first-quarter?utm_source=rss_feed Fri, 25 Jul 2025 08:37:04 +0000 Enoch Yiu Enoch Yiu Hong Kong needs to offer more tax benefits for vintage cars and other incentives to turn the city into a major base for storing and trading art, with an eye on building up its pool of industry talent and service providers, according to Sotheby’s former top executive in the region. While the city is among the top three global art auction and trading hubs, it still lacked some ingredients to build upon, especially talent in art storage, authentication and repair, said Patti Wong, co-founder and... https://www.scmp.com/business/article/3318791/hong-kong-needs-offer-more-tax-breaks-enhance-art-trading-hub-status-expert-says?utm_source=rss_feed https://www.scmp.com/business/article/3318791/hong-kong-needs-offer-more-tax-breaks-enhance-art-trading-hub-status-expert-says?utm_source=rss_feed Sun, 20 Jul 2025 04:01:07 +0000 Enoch Yiu Enoch Yiu Most Hongkongers prefer living a fulfilling life up to age 75 rather than an ordinary one until 80, reflecting shifting perceptions of longevity and the growing demand for silver economy-related financial products, according to Manulife’s annual Asia Care survey. Nearly 80 per cent of the respondents said they do not want to live longer with poor health and financial conditions, but want to “live independently and do what is important”, according to the study released on Thursday, which polled... https://www.scmp.com/business/banking-finance/article/3318524/hongkongers-prioritise-quality-over-longevity-retirement-manulife?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3318524/hongkongers-prioritise-quality-over-longevity-retirement-manulife?utm_source=rss_feed Thu, 17 Jul 2025 05:00:15 +0000 Enoch Yiu,Sam Phillips Enoch Yiu,Sam Phillips Hong Kong’s insurance business may expand by a compounded 55 per cent over the next eight years, driven by the so-called silver economy serving senior citizens and growth in the Greater Bay Area, industry experts said on Tuesday. Gross insurance premium in the city may jump to US$127 billion by 2032 from last year’s US$82 billion, said Steve Finch, Manulife Financial’s Asia president, citing industry forecasts. That growth is enabled by the “depth and sophistication of Hong Kong’s insurance... https://www.scmp.com/business/banking-finance/article/3317416/hong-kong-insurance-market-may-grow-55-2032-greater-bay-area-ages?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3317416/hong-kong-insurance-market-may-grow-55-2032-greater-bay-area-ages?utm_source=rss_feed Tue, 08 Jul 2025 10:59:36 +0000 Enoch Yiu Enoch Yiu HSBC, Manulife and BOC Life are among the financial firms courting retirees with new investment products that offer regular income streams amid a broader government-led initiative to capture opportunities in the so-called silver economy. The city’s biggest lender, HSBC, last week launched five retirement-solution funds, which offer a non-guaranteed target dividend payout rate of 6 per cent a year. More retirement-focused funds would be added to the suite in the second half of 2025, the bank... https://www.scmp.com/business/banking-finance/article/3317255/hsbc-manulife-boc-life-target-hong-kongs-silver-economy-regular-income-products?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3317255/hsbc-manulife-boc-life-target-hong-kongs-silver-economy-regular-income-products?utm_source=rss_feed Mon, 07 Jul 2025 23:30:08 +0000 Enoch Yiu Enoch Yiu Christopher Hui Ching-yu has recently been on a world tour, conducting roadshows in Canada, the UK and Norway, in an effort to urge global businesses to redomicile in Hong Kong. The main talking point for Hui, the Secretary for Financial Services and the Treasury, has been a new law, enacted in May, that sought to make it easier for overseas companies to reincorporate in the city. Just a few days after the law came into force, Hui flew to Canada to meet senior executives from insurers Manulife... https://www.scmp.com/business/article/3316957/hong-kong-wants-be-dominant-domicile-worlds-biggest-companies?utm_source=rss_feed https://www.scmp.com/business/article/3316957/hong-kong-wants-be-dominant-domicile-worlds-biggest-companies?utm_source=rss_feed Sat, 05 Jul 2025 02:00:14 +0000 Denise Tsang Denise Tsang An exhibition centred on the hugely popular Japanese manga series Chiikawa will be held in Hong Kong this summer, with the event to include eight localised characters created in the form of dim sum such as har gow and siu mai as part of the city’s latest efforts to cash in on the intellectual property economy. The exhibition’s organiser, Hong Kong design studio AllRightsReserved, will sell tickets and distribute free ones for the three-week “Chiikawa Days” show in August. The show will have... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3315700/japanese-manga-chiikawa-exhibition-be-held-hong-kong-august?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3315700/japanese-manga-chiikawa-exhibition-be-held-hong-kong-august?utm_source=rss_feed Wed, 25 Jun 2025 03:00:09 +0000 Ambrose Li Ambrose Li Authorities have received around 150 inquiries from companies about transferring their legal domicile status to Hong Kong after the recent passage of a law making it easier for businesses to establish themselves in the city. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu also said on Saturday that about 180 family offices had been set up or had expanded their operations in Hong Kong this year, putting the city on track to surpass its year-end goal of 200. “Since the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3313476/hong-kongs-easier-redomiciling-policy-attracts-150-inquiries-companies?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3313476/hong-kongs-easier-redomiciling-policy-attracts-150-inquiries-companies?utm_source=rss_feed Sat, 07 Jun 2025 06:14:04 +0000 Enoch Yiu Enoch Yiu Manulife (International), the biggest pension provider in the city, plans to redomicile to Hong Kong from Bermuda in November, indicating its confidence in the city as an international financial centre, according to a notice it sent to customers on Friday. This makes Manulife (International), the Hong Kong and Macau unit of Toronto-headquartered Manulife Financial, the second insurer to incorporate in Hong Kong after a new “game changer” law easing the redomiciliation process came into effect on... https://www.scmp.com/business/companies/article/3313337/manulifes-hong-kong-unit-redomicile-bermuda-thanks-new-law?utm_source=rss_feed https://www.scmp.com/business/companies/article/3313337/manulifes-hong-kong-unit-redomicile-bermuda-thanks-new-law?utm_source=rss_feed Fri, 06 Jun 2025 07:18:20 +0000 Cao Li,Enoch Yiu Cao Li,Enoch Yiu AXA, one of Hong Kong’s largest insurers, announced on Friday that it plans to move the legal domicile of its Hong Kong-serving entity from Bermuda to Hong Kong, following a new law introduced by the government that allows companies to return to the city while retaining their legal identity and business continuity. “We are excited to be among the first to redomicile to Hong Kong,” Sally Wan, CEO of AXA Greater China, said in a statement. “This move is not merely administrative; it is a... https://www.scmp.com/business/banking-finance/article/3311503/axa-takes-lead-among-insurers-moving-legal-domicile-hong-kong-under-relaxed-rules?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3311503/axa-takes-lead-among-insurers-moving-legal-domicile-hong-kong-under-relaxed-rules?utm_source=rss_feed Fri, 23 May 2025 06:02:39 +0000 Enoch Yiu Enoch Yiu A game-changing law taking effect this week will spur many international insurance companies to redomicile to Hong Kong and show their commitment to the city as a top finance hub, according to an industry association. Hong Kong’s company redomiciliation regime launching on Friday will allow firms incorporated overseas to apply to return to the city while maintaining their legal identity and business continuity. “Insurance companies redomiciling to Hong Kong will demonstrate a significant vote of... https://www.scmp.com/business/banking-finance/article/3311016/hong-kongs-game-changer-law-will-encourage-insurers-redomicile-industry-guild?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3311016/hong-kongs-game-changer-law-will-encourage-insurers-redomicile-industry-guild?utm_source=rss_feed Tue, 20 May 2025 09:00:09 +0000 Enoch Yiu Enoch Yiu Life insurance sales soared to a record last year in Hong Kong, as local residents and mainland Chinese visitors bought policies for protection, wealth management and estate planning, capping a second bumper year for the industry amid turbulent markets. Sales of new life insurance policies increased 21.4 per cent to HK$219.8 billion (US$28.34 billion) last year, according to data released by the Insurance Authority on Friday. Mainland Chinese tourists last year spent HK$62.8 billion on life and... https://www.scmp.com/business/banking-finance/article/3307930/hong-kongs-2024-life-insurance-sales-soar-21-record-led-wealth-estate-planning?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3307930/hong-kongs-2024-life-insurance-sales-soar-21-record-led-wealth-estate-planning?utm_source=rss_feed Fri, 25 Apr 2025 10:07:25 +0000 US stocks are swinging on Monday following a manic morning where indexes plunged, soared, and then sank again as Wall Street tossed around a false rumour about US President Donald Trump’s plans for his trade war. Some investors are holding on to hope that Trump may still lower his tariffs after negotiating with other countries, and Trump said on Sunday that he has heard from leaders “dying to make a deal”. Countries are scrambling to figure out how to respond to the tariffs, with China and... https://www.scmp.com/news/world/united-states-canada/article/3305560/wall-street-tumbles-1200-points-trumps-trade-war-fuels-global-market-fears?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3305560/wall-street-tumbles-1200-points-trumps-trade-war-fuels-global-market-fears?utm_source=rss_feed Mon, 07 Apr 2025 13:49:05 +0000 Enoch Yiu Enoch Yiu Canada’s biggest insurer Manulife Financial has appointed its chief actuary Steve Finch to head its Asian business, picking a company veteran to take charge of a region that is projected to become the group’s single most profitable market. Finch will bring more than three decades of industry experience to his new role as president and CEO of Asia when he takes over from Phil Witherington on May 9 in Hong Kong, the company said in a statement on Tuesday. Witherington will return to Toronto to... https://www.scmp.com/business/banking-finance/article/3302724/manulife-picks-its-chief-actuary-steve-finch-asia-ceo-lead-its-biggest-profit-centre?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3302724/manulife-picks-its-chief-actuary-steve-finch-asia-ceo-lead-its-biggest-profit-centre?utm_source=rss_feed Tue, 18 Mar 2025 00:31:08 +0000 Enoch Yiu Enoch Yiu Major banks and insurers in Hong Kong including HSBC, Manulife and BOC Life are lining up plans to expand their services to elderly residents, a sizeable segment of the city’s population. People aged 65 and above made up 22 per cent of the city’s 7.5 million residents last year, according to the statistics department. Since 1971, life expectancy in Hong Kong has increased to 82.5 years from 67.8 for men and to 88.1 from 75.3 for women in 2023. BOC Life aims to widen its “RetireCation” programme... https://www.scmp.com/business/banking-finance/article/3292295/boc-life-hsbc-manulife-aim-bigger-share-hong-kongs-silver-hair-economy?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3292295/boc-life-hsbc-manulife-aim-bigger-share-hong-kongs-silver-hair-economy?utm_source=rss_feed Thu, 26 Dec 2024 06:00:14 +0000 Emily Hung Emily Hung The Hong Kong-based chairman of Manulife Financial Asia has called on insurance companies across the world to modernise their underwriting policies to better support people with autism, saying the move may also encourage early diagnosis and intervention. Damien Green also said his earlier criticism of his employer’s “clinically dumb” underwriting policies for people with autism, such as his son, had attracted a positive response from the company and the wider industry. Insurance underwriting... https://www.scmp.com/news/hong-kong/health-environment/article/3288867/hong-kong-based-head-insurer-calls-better-policies-help-people-autism?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3288867/hong-kong-based-head-insurer-calls-better-policies-help-people-autism?utm_source=rss_feed Mon, 02 Dec 2024 00:30:14 +0000 Enoch Yiu Enoch Yiu Manulife Financial has promoted its Asia head as group CEO from next year, as Canada’s largest insurer acknowledged the region’s outsize contribution to its global revenue. Phil Witherington, the Asia CEO of Manulife, will take over as group CEO of the Toronto-based insurer from May 8 next year, according to a statement on Tuesday. He will replace Roy Gori, who will retire and serve as an adviser through August 31, it added. Manulife’s board was unanimous in its support for Witherington’s... https://www.scmp.com/business/banking-finance/article/3287131/manulife-promotes-asia-ceo-witherington-group-chief-executive-nod-regions-growth?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3287131/manulife-promotes-asia-ceo-witherington-group-chief-executive-nod-regions-growth?utm_source=rss_feed Tue, 19 Nov 2024 01:25:09 +0000 Enoch Yiu Enoch Yiu Manulife, Canada’s biggest insurance company, is on track to surpass its earnings target in Asia, thanks to the launch of several innovative products that have been lapped up by wealthy customers and mainland visitors buying policies in Hong Kong, according to a top executive. The Toronto-based insurer’s third-quarter results released last week showed a 17 per cent increase in core earnings – profits generated from its primary business activities – in Asia. The region was also the largest profit... https://www.scmp.com/business/banking-finance/article/3286610/manulife-set-surpass-asia-earnings-target-led-innovative-products-booming-sales?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3286610/manulife-set-surpass-asia-earnings-target-led-innovative-products-booming-sales?utm_source=rss_feed Sun, 17 Nov 2024 02:00:19 +0000 Enoch Yiu Enoch Yiu Some of Hong Kong’s biggest fintech start-ups, including virtual banks and insurers, are using their early advantage to expand their services in Southeast Asia. Stronger promotion by government bodies could open doors to new opportunities, they said. WeLab is seeking a virtual banking licence in Thailand to add to its operations in Indonesia, while virtual insurer OneDegree Group is looking to offer its expertise in pet and cybersecurity policies and other technology solutions to peers in the... https://www.scmp.com/business/article/3282066/stronger-ties-hong-kong-fintech-groups-set-sights-asean-banking-insurance-markets?utm_source=rss_feed https://www.scmp.com/business/article/3282066/stronger-ties-hong-kong-fintech-groups-set-sights-asean-banking-insurance-markets?utm_source=rss_feed Sun, 13 Oct 2024 06:00:24 +0000 Half of the air purifiers tested by Hong Kong’s consumer watchdog were “exceedingly slow” in removing a toxic gas emitted by building materials in homes. The Consumer Council on Monday added some manufacturers had exaggerated how effective their machines were in filtering out particulates from the atmosphere. The council appealed to air purifier distributors to include the “Clean Air Delivery Rate Value” (CADR) – the rate at which devices can deliver air scrubbed of pollutants – as a... https://www.scmp.com/news/hong-kong/society/article/3266923/hong-kong-tests-finds-half-home-air-purifiers-slow-removing-toxic-formaldehyde?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3266923/hong-kong-tests-finds-half-home-air-purifiers-slow-removing-toxic-formaldehyde?utm_source=rss_feed Mon, 17 Jun 2024 08:50:29 +0000 Manulife, the largest insurer in Canada and the largest pension provider in Hong Kong, will move to a new office in Macau in October to support its expansion in the former Portuguese colony. The company has leased 64,000 sq ft of office space in the grade A Yoho Treasure Island complex on Macau peninsula. Named after the adventure novel by Scottish author Robert Louis Stevenson, the mixed-use complex faces Nam Van Lake and includes a five-star hotel and shopping centre. “Even though Macau’s... https://www.scmp.com/business/banking-finance/article/3265826/manulifes-new-macau-office-will-help-insurer-tap-greater-bay-area-opportunities-ceo-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3265826/manulifes-new-macau-office-will-help-insurer-tap-greater-bay-area-opportunities-ceo-says?utm_source=rss_feed Sun, 09 Jun 2024 23:00:12 +0000 Life insurance sales in Hong Kong surged by 39 per cent in the first quarter thanks to a world record policy sold by HSBC Life and strong growth in the number of mainland Chinese visitors buying policies in the city, according to data from the industry regulator. New life insurance sales in the first three months rose to HK$65.3 billion (US$8.4 billion) from HK$47 billion a year earlier. Sales of policies to mainland visitors amounted to HK$15.63 billion, the Insurance Authority figures showed,... https://www.scmp.com/business/banking-finance/article/3264869/life-insurance-sales-hong-kong-surged-first-quarter-thanks-world-record-policy-soaring-demand?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3264869/life-insurance-sales-hong-kong-surged-first-quarter-thanks-world-record-policy-soaring-demand?utm_source=rss_feed Fri, 31 May 2024 07:48:51 +0000 Life insurance sales in Hong Kong to mainland Chinese visitors surged 46-fold in the first nine months of this year as they tucked into an array of insurance products seeking higher returns and as a hedge against a weakening yuan, according to data released by the Insurance Authority on Thursday. Sales of policies to mainlanders hit HK$46.8 billion (US$6 billion) from January to September, compared with HK$1 billion a year earlier, representing 32 per cent of the total in Hong Kong during the... https://www.scmp.com/business/article/3243354/spooked-falling-yuan-yield-seeking-mainland-chinese-scramble-buy-insurance-policies-hong-kong?utm_source=rss_feed https://www.scmp.com/business/article/3243354/spooked-falling-yuan-yield-seeking-mainland-chinese-scramble-buy-insurance-policies-hong-kong?utm_source=rss_feed Thu, 30 Nov 2023 08:36:12 +0000 Manulife, Canada’s biggest insurance company, will open its second prestige customer centre in Hong Kong and invest more on digital tools to support its sales agents targeting growing business from returning mainland Chinese customers, its newly appointed Asia CEO said. The insurer will open the centre in tourist hotspot of Tsim Sha Tsui this quarter to cater to high-net-worth individuals. The new, more than 5,000 sq ft facility will be close to its first, 10,000-plus sq ft centre at... https://www.scmp.com/business/article/3232341/manulife-doubling-down-rich-mainland-chinese-customers-open-new-hong-kong-prestige-centre-and-invest?utm_source=rss_feed https://www.scmp.com/business/article/3232341/manulife-doubling-down-rich-mainland-chinese-customers-open-new-hong-kong-prestige-centre-and-invest?utm_source=rss_feed Mon, 28 Aug 2023 00:00:22 +0000 Hong Kong’s Mandatory Provident Fund (MPF) has seen a pickup in the frequency of members changing their investment fund choices in the three pandemic-stricken years, 2020-2022, according to Manulife, the largest pension scheme provider in the city. The number of Manulife members who changed their MPF investment fund choices last year increased by 60 per cent from 2019 before the pandemic, according to a report released by Manulife on Tuesday. “We observed that many members are influenced by... https://www.scmp.com/business/article/3231076/manulife-says-mpf-members-changed-fund-choices-more-frequently-during-pandemic-decisions-may-be-ill?utm_source=rss_feed https://www.scmp.com/business/article/3231076/manulife-says-mpf-members-changed-fund-choices-more-frequently-during-pandemic-decisions-may-be-ill?utm_source=rss_feed Tue, 15 Aug 2023 04:30:10 +0000 Canada’s biggest insurance company is relocating one of its senior executives to Hong Kong, joining a raft of its peers who are planning to use the city as a base from which to expand in Asia. Manulife said on Friday it has appointed chief financial officer Phil Witherington as president and CEO of Manulife Asia, effective from July 1. He will replace Damien Green, who will help push the insurer’s regional strategy in his new role as chair of Manulife Financial Asia. The move follows calls from... https://www.scmp.com/business/banking-finance/article/3224226/manulife-relocates-senior-executive-hong-kong-canadas-biggest-insurer-joins-peers-using-city-base?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3224226/manulife-relocates-senior-executive-hong-kong-canadas-biggest-insurer-joins-peers-using-city-base?utm_source=rss_feed Fri, 16 Jun 2023 01:30:19 +0000