“This pent-up demand will fade, so demand will return to the average level seen during the years before the pandemic. It is unlikely to go back to a peak of HK$72.7 billion seen in 2016.”
Last year’s tally is a significant jump on the three-year Covid-19 period, which recorded sales of HK$2.1 billion in 2022, HK$700 million in 2021 and HK$6.8 billion in 2020. It is higher than the pre-Covid era too, which reported sales worth HK$43.4 billion in 2019, HK$47.6 billion in 2018 and HK$50.8 billion in 2017, Cheung said.
A rush to buy insurance policies in Hong Kong in 2016 prompted China to introduce measures the same year that tightened cross-border payments for overseas insurance policies. Cheung, however, hopes the buying trend will continue in the current interest rates and foreign exchange scenario.
Hong Kong’s star shines as Greater Bay Area’s rich tap tax breaks, incentives
Hong Kong’s star shines as Greater Bay Area’s rich tap tax breaks, incentives
“As long as the US interest rate cuts do not happen too soon and too drastically, and the…
