https://www.scmp.com/rss/523201/feed The latest news and top stories on Hong Kong Insurance Authority (IA), established for regulating and supervising the insurance industry. Its mission involves promoting stable market development protecting policyholders and maintaining financial stability. The IA's areas of focus include administering the Insurance Ordinance, overseeing insurers and intermediaries, fostering Insurtech innovation and enhancing regulatory frameworks like the risk-based capital regime. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Hong Kong’s Insurance Authority aims to increase transparency and the available range of medical insurance products to address rising costs, while also reviewing regulations with an eye towards attracting more international life-insurance buyers. “We would like to see the insurance companies introduce more medical insurance products that are more accessible and affordable for the general public, with sales practices that are fair to consumers,” said Clement Lau Chung-kin, the authority’s... https://www.scmp.com/business/article/3346649/hong-kong-regulator-sets-comprehensive-review-medical-insurance-costs?utm_source=rss_feed https://www.scmp.com/business/article/3346649/hong-kong-regulator-sets-comprehensive-review-medical-insurance-costs?utm_source=rss_feed Mon, 16 Mar 2026 01:00:12 +0000 Enoch Yiu Enoch Yiu China Taiping Insurance Holdings, whose Hong Kong subsidiary faces massive claims related to the Tai Po fire in November, is expected to post strong annual profit on an investment gain, according to a filing to the Hong Kong stock exchange on Monday. Fitch Ratings, however, warned that the insurer’s earnings in 2026 could be affected by large claims related to the Wang Fuk Court inferno, the worst fire in Hong Kong in seven decades that killed 168 people, injured 79 and left an estimated 4,000... https://www.scmp.com/business/banking-finance/article/3340449/china-taiping-expects-higher-profit-tai-po-fire-could-weigh-2026?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340449/china-taiping-expects-higher-profit-tai-po-fire-could-weigh-2026?utm_source=rss_feed Mon, 19 Jan 2026 11:24:15 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) expects to work with other financial regulators to promote artificial intelligence adoption in various sectors over the next five years and further advance fintech development, according to the head of the city’s de facto central bank. Under the five-year plan called Fintech 2030 that starts this year, the HKMA would expand the scope of the city’s generative AI sandbox to include more industries as a step towards enhancing risk management, fraud detection... https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed Mon, 05 Jan 2026 00:30:16 +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 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 Enoch Yiu Enoch Yiu Prudential Hong Kong will expand healthcare partnerships and explore more use of artificial intelligence to capture growing opportunities from people crossing the border – in both directions – for medical treatment, according to its top boss. The insurer handled more than 2,200 cross-border hospital claims in the first half of this year, according to Lawrence Lam, CEO of Prudential Hong Kong. Such claims represented 30 per cent of the total, up from 26 per cent a year earlier. “We have seen an... https://www.scmp.com/business/companies/article/3327501/prudential-expands-partnerships-ai-adoption-capture-cross-border-business-ceo?utm_source=rss_feed https://www.scmp.com/business/companies/article/3327501/prudential-expands-partnerships-ai-adoption-capture-cross-border-business-ceo?utm_source=rss_feed Wed, 01 Oct 2025 23:30:08 +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 Enoch Yiu Enoch Yiu Hong Kong is an ideal place for mainland and international companies to set up captive insurers to manage risks related to their Belt and Road Initiative projects, speakers on a panel said at the Belt and Road Summit on Wednesday. A captive insurer is set up by a parent company to provide all the firms in the group with insurance ­protection. This allows the group to better manage risks and retain profits that would otherwise go to an outside firm. In May, HSBC Holdings, Hong Kong’s biggest... https://www.scmp.com/business/banking-finance/article/3325064/cnooc-hsbc-say-hong-kong-ideal-place-global-companies-set-captive-insurers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325064/cnooc-hsbc-say-hong-kong-ideal-place-global-companies-set-captive-insurers?utm_source=rss_feed Wed, 10 Sep 2025 11:30:09 +0000 Enoch Yiu Enoch Yiu FWD Group, a regional insurer founded by Hong Kong billionaire Richard Li Tzar-kai, said its first-half net profit jumped 15 times on strong sales growth and one-off cost reductions. In the first results since FWD’s HK$3.61 billion (US$466 million) initial public offering (IPO) in July, net profit soared to US$47 million from US$3 million a year earlier, the company said on Friday. The insurer said it would not pay an interim dividend. Driving the profit increase, annualised premiums from new... https://www.scmp.com/business/companies/article/3323649/fwd-profit-jumps-15-times-life-policies-spike-costs-drop-following-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/companies/article/3323649/fwd-profit-jumps-15-times-life-policies-spike-costs-drop-following-hong-kong-ipo?utm_source=rss_feed Fri, 29 Aug 2025 09:08:19 +0000 Enoch Yiu Enoch Yiu AIA Group, Asia’s largest insurer, posted a 12 per cent growth in first-half operating profit, buoyed by mainland Chinese customers buying insurance policies during their visits to Hong Kong. For the first six months of the year, operating profit on a constant currency basis reached US$3.61 billion, with earnings per share reaching 33.94 US cents, according to a stock exchange filing on Thursday. The results align with market estimates. The value of new business (VONB), a key indicator of sales... https://www.scmp.com/business/banking-finance/article/3322594/aia-profit-rises-12-first-half-mainland-visitors-buying-spree?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3322594/aia-profit-rises-12-first-half-mainland-visitors-buying-spree?utm_source=rss_feed Thu, 21 Aug 2025 03:22:36 +0000