News

Insurance

Staff Reporter

, Hong Kong

Published:

2 months ago

648 views

/Mathieu Stern from Unsplash

HSBC Life Hong Kong issues most expensive life insurance policy

The Hong Kong insurer has issued policies worth at least US$50m over the past year.

HSBC Life Hong Kong has set a new Guinness World Record by issuing the most valuable life insurance policy ever sold, with a policy worth HK$1.9b (US$250m).

The policy was issued to an Ultra High Net Worth (UHNW) individual earlier this year and was fully underwritten by HSBC Life.

In addition to the record-breaking policy, HSBC Life also issued ten other policies valued at least HK$391.4m (US$50m) to individual customers over the past year.

ALSO READ: HSBC Life reveals new leadership appointments

It is a whole life protection policy with wealth preservation and legacy planning features under the HSBC Life Paramount Global Life Insurance Plan.

The insurer said this reflects the increasing demand among UHNW individuals for life insurance solutions as tools for wealth transfer and legacy planning.

Follow the links for more news on

HSBC Life

High Net Worth Individuals

Hong Kong Insurance

insurance

Life insurance

Also Read

Towngas, FSE Nova commit to expanded insurance cooperation

HKIA alerts on fraudulent payment invoices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Retail rents up 1.8% QoQ in 1Q24 amidst tourism surge

Tsim Sha Tsui led submarkets with a 2.6% increase.

Commercial Retail

11 hours ago

Grade A office rent dips 2.5% QoQ in 1Q24

Major submarkets like Island East experienced decline in rents.

Commercial Property

12 hours ago

Hang Seng Bank floats Q1 dividend of HK$1.2 per share

The payment date is set for 6 June.

13 hours ago

SME workers eye 3.8% salary hike in 2024: Prudential

Whilst pay was cited as the top factor to remain in their job, the survey also noted the importance of non-financial benefits for SME workers.

HR & Education

13 hours ago

Exclusives

Why avocados are now a permanent part of Shake Shack Hong Kong's menu

The brand said limited-time-only (LTO) delights and new menu launches help keep consumer attention.

Food & Beverage

Hong Kong’s Hottest Startups of 2024

Fintech and AI startups dominated the list.

Markets & Investing

Hong Kong sets higher investment threshold for residency

Whilst permanent residency in Hong Kong now requires a minimum outlay of $30m (US$3.83m), the range of permissible investments has been expanded.

Markets & Investing

Days of excess are over, investors warn founders

Deal activity in Asia Pacific fell 26.3% YoY in 2023.

Markets & Investing

Event News

HKB Greater Bay Area Enterprise Awards 2024 Winner: Mead Johnson Nutrition (Hong Kong) Limited

Food & Beverage

Mead Johnson Nutrition Hong Kong Ltd. highlights its commitment to infant and child nutrition with Hong Kong Enfinitas, a revolutionary infant formula with scientifically proven ingredients for optimal development.