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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
Luigi Mangione, suspected of killing UnitedHealthcare CEO Brian Thompson, is escorted by police at Manhattan Supreme Court in September 2025. Photo: Reuters
Gun violence in the US

Luigi Mangione won’t face death penalty after US judge dismisses murder charge

He could still be put behind bars for life if convicted of other charges in the killing of UnitedHealthcare CEO Brian Thompson.

Manulife

AXA becomes second insurer to redomicile from Bermuda to Hong Kong

Manulife

Wealthy investors propel Hong Kong life insurance sales to another peak

IA

China Taiping expects higher profit but Tai Po fire could weigh in 2026

State-owned insurer expects 215 to 225 per cent jump in 2025 net profit due to a gain in investment income, one-off tax impact.

China Taiping Insurance has the largest exposure among its peers to the Wang Fuk Court fire at over HK$2 billion. Photo: Shutterstock
Banking & finance

HSBC reviews Singapore insurance unit amid high Hong Kong, mainland China growth

It ‘makes sense’ for HSBC to focus on ‘core high-growth markets’ that have ‘underpenetrated’ insurance needs, analyst says.

Hong Kong economy

Hong Kong employee insurance costs to jump 15% amid surge in day procedures: study

Firms warned of rising costs as increasing number of minor day-surgery claims under inpatient plans drive up group insurance premiums.

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Trending in China

China woman buys US$28 ‘love insurance’, claims US$1,400 after marriage a decade later

Husband says he thought his wife had been scammed when told about policy; couple opt for cash payout over 10,000 roses.

A woman who bought a “love insurance” policy for US$28 in 2016 has claimed US$1,400 a decade later after getting married. Photo: SCMP composite/Shutterstock/Douyin
Banking & finance

China’s wealthy swap real estate for insurance, gold as retirement looms

Declining returns on property are prompting China’s affluent to diversify their investments, including high-value insurance policies and gold.

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The Philippines

‘Medical pork’ row exposes political grip over Philippine health assistance

Doctors and health groups say the system allows politicians to influence who receives state medical aid, undermining universal care.

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Hong Kong

Market volatility, family feuds fuel Hong Kong’s wealth transfer anxiety

In Hong Kong, there were 198 ongoing lawsuits over deceased estates as of the end of September, the second largest category among cases.

Pedestrians cross a road in Central, Hong Kong. Photo: May Tse
Banking & finance

Macroscope | As global spending needs grow and debt rises, business as usual won’t suffice

The increase in government debt means that nations must look elsewhere for funds required to meet socioeconomic needs.

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People walk near screens showing stock exchange and economic data in Shanghai, on April 14. Photo: EPA-EFE
Manulife

Manulife becomes first insurer to redomicile in Hong Kong

Move from Bermuda ‘reflects our deep-rooted belief in Hong Kong’s future and its importance to our business,’ Hong Kong and Macau CEO says.

AIA

Hong Kong insurers move to help fire victims claim payouts on 12,000 policies

Insurance Authority confirms 12,000 policies impacted, with payouts spanning life, medical, property and accident coverage.

AIA

Hong Kong insurers identify 8,700 policies owned by Tai Po fire victims

Residents of Wang Fuk Court hold 7,600 active life and 1,100 property policies provided by some 30 insurers, Insurance Authority CEO says.

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Mourners lay flowers in tribute to the victims of the fire that broke out on November 26 at Wang Fuk Court in Tai Po. Photo: Karma Lo
Hong Kong’s Tai Po fire tragedy

Hong Kong insurers face profit pressure in aftermath of deadly Tai Po fire

Impact will be manageable, but insurers may have to rethink pricing strategies that have led them to cut premiums amid competition, S&P says.

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Hundreds of people queue on Sunday to lay flowers and pay tribute to victims of the deadly fire at Wang Fuk Court in Tai Po, seen in the background. Photo: Karma Lo
Crime

Alleged CEO killer tries to exclude evidence from US murder trial

Luigi Mangione’s defence argues police conducted an illegal warrantless search of his backpack, threatening his right to a fair trial.

Banking & finance

Hong Kong insurers liable for payouts of US$334 million related to Tai Po fire

The Hong Kong Bar Association is providing free legal services to victims and urges them to take immediate action to protect their rights.

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Banking & finance

Hongkongers happy with their weight, stressed about finances and jobs: Cigna

Only 36 per cent of respondents in Hong Kong want to lose weight, below the global average of 46 per cent, according to the Cigna survey.

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Two-thirds of Hong Kong respondents in a Cigna survey said they exercised regularly to manage their weight. Photo: Dickson Lee
Banking & finance

Sun Life aims for global growth with new asset management hires

Sun Life unites asset management divisions, appoints top talent to drive global expansion and boost alternative investments.

Consumer protection in Hong Kong

Hong Kong watchdog urges scrutiny of travel insurance terms amid claims disputes

Consumer Council says travellers should fully understand how policies define key terms and what activities are covered.

Hong Kong tourism

Hongkongers urged to secure travel insurance as bear attacks rise in Japan

But insurers warn travellers to stay out of bear-alert areas or risk losing their coverage.

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Hongkongers visiting Japan should avoid entering sealed-off areas known for bear attacks, insurers have said. Photo: AFP
Japan

Japan’s welfare crackdown has foreign residents in its sights

New rules threaten non-renewal of visas if foreign residents do not pay their health insurance premiums and pension contributions in full.

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Foreigners crowd a street in Kyoto, western Japan, last month. Photo: Kyodo
Stocks

Chinese listed companies’ earnings surge on capacity cut, tech self-sufficiency

The strong quarterly results are expected to boost a rally in Chinese stocks that has been fuelled by a shift of bank savings to risk assets.

Banking & finance

Hong Kong life insurance sales hit record high on high-net-worth demand

Policy sales rose 50 per cent in the first half of the year to US$22.3 billion, the most since the Insurance Authority was set up in 2016.

Hong Kong transport

Guangdong drivers to get 3-day stay in Hong Kong under new cross-border scheme

Authorities set to launch the ‘Southbound Travel for Guangdong Vehicles’ scheme next month.

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An artificial island on the Hong Kong-Zhuhai-Macau Bridge. Photo: Martin Chan
Banking & finance

Prudential expands partnerships, AI for cross-border business: CEO

Moves aim to serve Hongkongers getting care across the Greater Bay Area, while also meeting voracious policy demand from mainland visitors.

Travelers depart Hong Kong from the West Kowloon Express Railway Station on May 1, 2025. Photo: May Tse
IA

Hong Kong regulator puts a 50% cap on referral fees for insurance sales

The new regulation addresses a grey area where some brokers pay 90 per cent of commission as referral fees to unlicensed persons.

Banking & finance

Hongkongers eye stable returns as longer lifespans reshape retirement needs

Two-thirds of respondents in an HKIMR survey said they want stable returns and wish to maintain their living standards after retirement.

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