Hong Kong Life Insurance Sales to Mainland Visitors Stabilise in 2024
Sales of life insurance to mainland Chinese visitors in Hong Kong have stabilised in 2024, according to data from the Hong Kong Insurance Authority. The new business premiums from mainland visitors totalled HK$62.8 billion ($8.1 billion), representing a 6.5% increase over 2023.
This figure accounted for 28.6% of the total new office premiums for individual business in Hong Kong’s insurance market. The stabilisation in life insurance sales to mainland visitors comes as the industry continues to adapt to changing market conditions.
The data highlights the ongoing contribution of mainland Chinese visitors to Hong Kong’s insurance sector. Despite the growth, the industry remains subject to various factors, including regulatory changes and market trends.
The Hong Kong Insurance Authority’s data provides valuable insights into the territory’s insurance market, particularly the segment driven by mainland Chinese visitors. As the market continues to evolve, insurers are likely to focus on product offerings and marketing strategies that appeal to this demographic.
