HK life insurance booms amidst regulatory reforms

There has been a surge in sales made by both banks and smaller insurers.

New business and in-force premiums have seen an uplift recently due to a surge in sales ahead of regulatory reforms made in mid-2025, according to a Jefferies report.

According to the report, there has been a surge in sales made by both banks and smaller insurers.

Meanwhile, the incumbent market leaders, AIA and Prudential, have lost share. However, on an absolute basis, both insurers’ sales have held up well.

Moreover, the market as a whole has grown to accommodate sales by banks.

“We expect first quarter trends to hold through the second quarter, with historic norms reasserting themselves from the third quarter onwards,” Jefferies said.