Sun Life Hong Kong achieves record-breaking HK$11.8b in full-year new business APE in 2025

Broker channel continues to claim the top spot in the market.

Sun Life Hong Kong Limited achieved outstanding business results in 2025, driven by its multi-channel distribution strategy, according to the latest provisional statistics of the  Insurance Authority on long-term insurance business in Hong Kong. The company’s Annualized Premium  Equivalent (APE) for full-year new business reached a record HK$11.8b, up 46% year-on-year and setting a new all-time high. This achievement places Sun Life Hong Kong amongst the top five non-bank insurers in the industry. 

All major distribution channels delivered strong performance in Q4, with notable growth recorded across  broker, agency and bancassurance channels. 

Broker channel: New business APE surged 144% year-on-year, once again ranking No. 1 in the market.

Agency channel: New business APE increased by 50% year-on-year, outperforming overall industry growth (12%) over the same period.

Bancassurance channel: New business APE rose by 53% year-on-year.

Average premium size ranked amongst the top three in the market*, demonstrating the strong appeal of its products amongst high-net-worth Clients.

Clement Lam, Chief Executive Officer, Sun Life Hong Kong Limited, said: “2025 was a landmark year for  Sun Life Hong Kong. Building on the strong momentum of the previous year, we delivered remarkable results  across all three major distribution channels — broker, agency, and bancassurance – with full-year new  business APE exceeding HK$10b for the first time. Our broker channel has once again secured the No.1  position in the market. These results reflect the strength of our multi-channel strategy, the discipline of our  execution, and the dedication of our teams.” 

“I sincerely thank our Clients and business partners for their trust in Sun Life Hong Kong. Looking ahead, we will continue to put Clients at the centre of everything we do. We will further enhance our product and service offerings to better address their evolving financial planning and protection needs, whilst refining our business strategies, particularly the high-net-worth market. We will accelerate our digital transformation and the  application of AI to optimise the Client experience, and advance insurtech capabilities to deliver more  personalised protection solutions that support long-term financial security and healthier living.” 

Supported by the company’s strong financial strength, resilience and long-term growth trajectory, Sun Life  Hong Kong recently upgraded its financial strength and issuer credit ratings to “AA” from “AA-”, with a stable outlook by S&P Global Ratings. The rating highlighted Sun Life Hong Kong’s strategic importance as a core group subsidiary. 

Source: Provisional Hong Kong long-term insurance business statistics for January to December 2025, provided by the Hong Kong Insurance Authority. 

*Includes only major non-bank insurers in the market.