That is higher than the pre-Covid levels. Mainlanders bought HK$12.8 billion of life and medical policies in the first quarter of 2019, representing 26.4 per cent of the total.
HSBC Life issued the world’s most valuable life insurance policy with a protection value of US$250 million, which was certified by Guinness World Records in February. The sale, though its premium was not disclosed, was a major boost to the total sales of new life insurance.
The jumbo policy, along with a hike in sales of insurance products to wealthy customers, helped the insurer to achieve 67 per cent year-on-year growth in new business premiums to HK$16.7 billion in the January-to-March period. This helped HSBC Life to maintain its position as the top life insurer in Hong Kong in terms of new sales.
“We recorded pronounced growth in our bancassurance channel,”…
