Hong Kong attractive to Chinese ins. Consumers
Wednesday, 08 08 2018, Category: Insurance and Reinsurance, Country: China
Despite previous measures from Beijing to discourage mainland citizens from purchasing insurance products in Hong Kong leading to a drop in premiums, it still remains attractive to mainland consumers with the number of policyholders actually rising.
Data from the Hong Kong Insurance Authority showed that new business premiums from mainland clients reached HK$11.8 billion (US$1.50 billion) in the first quarter of 2018. This was down 37% year-on-year, due to decline in endowment and life insurance products, which usually have large premiums, according to a Reuters report.
However, agents say that more people from the mainland are buying insurance in Hong Kong.
Source: Insurance Business