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Insurance

Insurance
Stories about the insurance industry, including life, general, property and casualty insurance
AIA Central office tower in Central, Hong Kong. Photo: Jonathan Wong
AIA

AIA reports record earnings, unveils US$1.6 billion stock buy-back plan

Hong Kong new sales rose 23 per cent to a record US$1.8 billion in 2024 as mainland Chinese bought more policies on their visits.

China jobs

As AI disrupts China jobs, could a dedicated insurance fund protect workers?

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Wealth management

Why the rich prefer Hong Kong insurance policies for inheritances

Banking & finance

China’s DeepSeek-led AI revolution to boost financial sector profit: UBS

Lower labour costs as a result of AI could boost profits of brokerages by 8 per cent and insurance firms by 13 per cent, analyst Craig Cao says.

AI-related advances brought about by DeepSeek’s technology could boost the financial sector’s profit, according to UBS. Photo: AFP
Banking & finance

Hong Kong to review medical insurance market, Greater Bay Area options

Medical insurance in Hong Kong is a loss-making business even though sales have been growing over the past few years, regulator says.

China's population

As rising costs hit health insurance funds, how can China stem the bloodletting?

What happens when China’s ageing population meets a rising reluctance among healthy people to pay for voluntary insurance?

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China stock market

Beijing unveils US$7.2 billion injection of insurer capital for stocks

China Pacific, Taikang Life and Sunshine Life among the firms putting ‘patient capital’ into A shares to help stabilise the market.

A worker stands on a crane as he installs red lanterns outside a park before the Lunar New Year celebrations in Beijing on January 24, 2025. Photo: Reuters
China economy

Opinion | Stimulus will boost China’s economy, but for how long?

Fiscal and monetary policies can only go so far. In the longer term, China’s economy will need to undergo a more fundamental transition.

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China economy

Editorial | Channelling of funds into China markets to bring needed stability

Move by Beijing aims to counter volatility from threats of Donald Trump with flow of proceeds from pensions and insurance.

China stock market

China directs state capital into A shares to anchor stock market

Starting this year, 30 per cent of the annual insurance premium from new policies will be put into yuan-denominated A shares, regulator Wu Qing said.

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Wu Qing, chairman of the China Securities Regulatory Commission (third from left) announces new measures to stabilise China’s stock market in Beijing on January 23, 2025. Photo: Xinhua
Wealth management

Hong Kong life insurance bonanza driven by local buying; overseas buyers rise

New life insurance sales in the first nine months of 2024 stood at HK$169.6 billion (US$21.8 billion), the highest since the authority set up in 2016.

Insurance sales agents approach mainland tourists in Canton Road, Tsim Sha Tsui on 20 February 2024. Photo: Eugene Lee
Malaysia

Malaysia urged to boost health funding to ease burden on patient care

Lack of funding, chronic manpower shortages in government hospitals leave public dependent on private healthcare sector, civil society groups say.

Business of climate change

Hong Kong appetite for catastrophe bonds grows as Taiping Re enters market

Latest deal brings total issuance in Hong Kong to US$748 million since insurance-linked securities were made possible in 2021.

Banking & finance

Banks, insurers rush for gold in Hong Kong’s ‘silver-hair economy’

Residents older than 65 years made up about 22 per cent of Hong Kong’s population of 7.5 million people in 2023, according to government data.

Elderly residents in a stretching group exercise on November 15, 2024. Photo: Dickson Lee
Mergers & Acquisitions

MetLife to buy Hong Kong tycoon Richard Li’s PineBridge in asset management push

New York-based insurer’s arm will pay US$800 million for PineBridge, which manages about US$100 billion in assets.

The asset management arm of US insurer MetLife has agreed to buy PineBridge Investments. Photo: Reuters
United States

Luigi Mangione pleads not guilty to murder in United Healthcare CEO’s death

Luigi Mangione faces 11 state charges, including murder and terrorism. The maximum New York sentence is life without parole if convicted.

Greater Bay Area

Cigna seeks mainland China partnerships as Hongkongers go north to get treatment

An ageing population and shortage of doctors have led more Hongkongers to go north to get medical treatment, Cigna’s Hong Kong CEO says.

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Gun violence in the US

Mangione faces new murder charge that could put death penalty on the table

Federal charges could allow prosecutors to pursue capital punishment, despite it being having been abolished for decades in New York.

Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson, is escorted by police in New York on Thursday. Photo: AP
Singapore

Allianz withdraws offer to acquire Singapore’s Income Insurance

The decision comes after public outcry and government scrutiny over the importance of balancing commercial interests with social responsibility.

Hong Kong society

Outside In | US insurer murder a warning as Hongkongers worry about medical bills

City’s situation is not as extreme but the private sector is out of reach for too many and wait times in the public sector can be painfully long.

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Gun violence in the US

Gun found on US CEO shooting suspect matches shell casings at scene: police

Luigi Mangione’s fingerprints also matched those on a water bottle near where United Healthcare’s Brian Thompson was killed.

Luigi Mangione, a suspect in the New York killing of UnitedHealthcare CEO Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, on Tuesday. Photo: Reuters
Icons and Influencers

Who are Luigi Mangione’s wealthy parents, Louis and Kathleen Mangione?

Luigi’s father Louis is the owner of Lorien Health Services and his mum Kathleen runs a travel company; meanwhile, one of his sisters is a doctor and his cousin Nino a state legislator.

Luigi Mangione’s parents Kathleen and Louis are prominent members of the Baltimore community. Photo: Instagram
Gun violence in the US

CEO shooting suspect had manifesto railing against US healthcare system

Handwritten document could indicate for the first time a possible motive for the murder of UnitedHealthcare chief Brian Thompson.

Banking & finance

Hong Kong to host annual meeting of global insurance regulators in 2026

Hong Kong should appeal to global insurers looking to set up their headquarters in the region, FWD chairman Frederick Ma says.

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United States

On Balance | US must target Big Food and insurance industry to fix its healthcare

The only positive likely to come out of the killing of UnitedHealthcare’s CEO is a national conversation about why US healthcare is so bad.

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People walk past a poster outside the Hilton hotel near the scene where Brian Thompson, the CEO of UnitedHealthcare, was shot dead in midtown Manhattan, in New York, on December 5. Photo: Reuters
Gun violence in the US

US CEO shooting suspect identified, ‘net tightening’, New York mayor says

The FBI is offering up to US$50,000 for information leading to the capture of the gunman who killed UnitedHealthcare’s Brian Thompson.

A undated police image shows an individual wanted for questioning in connection with the killing of UnitedHeatlhcare CEO Brian Thompson. Photo: NYPD via Reuters
Gun violence in the US

As clock ticks down, police believe gunman who killed US CEO has left New York

The search for Brian Thompson’s shooter has passed the crucial 48-hour mark – the best window of opportunity to catch the attacker.

Gun violence in the US

Murder and memes: CEO’s killing exposes frustrations with US medical system

His death did not draw much online sympathy, and a research group noted his firm denies a striking one-third of all health insurance claims.

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