Hong Kong life insurance sales up 58% in first half but tax crackdown threatens momentum

Life insurance sales in Hong Kong rose 58 per cent in the first half of this year to another record high as affluent mainland and overseas customers continued to buy policies in the city for wealth transfer, protection and medical needs. It was the fourth consecutive year in which first half sales hit a record high. The industry wrote HK$275.16 billion (US$35.3 billion) worth of new life insurance policies in the first half, compared with HK$173.7 billion a year earlier, according to data from...