Friday, 10 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • đŸ”¥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Top Hong Kong insurer HSBC Life targets Asia’s rich, Greater Bay Area retirees for growth
Economy

Top Hong Kong insurer HSBC Life targets Asia’s rich, Greater Bay Area retirees for growth

Last updated: September 2, 2024 2:57 am
Share
Top Hong Kong insurer HSBC Life targets Asia’s rich, Greater Bay Area retirees for growth
SHARE

HSBC Life, Hong Kong’s largest insurer by sales, is strategically targeting high-net-worth clients in Asia and the Greater Bay Area for future growth, according to Edward Moncreiffe, CEO of global insurance at HSBC. In an exclusive interview with the Post, Moncreiffe highlighted Asia as a region with significant wealth creation potential but low levels of social insurance coverage.

Moncreiffe emphasized the importance of key growth areas such as Hong Kong, Singapore, mainland China, and India. With approximately 90% of growth coming from Asia, HSBC Life plans to focus its investments in this region. Moncreiffe, who took over as CEO in April, has a strong background in the insurance industry, previously serving as the Hong Kong and Macau CEO of HSBC Life.

One of the recent milestones for HSBC Life was the sale of a record-breaking US$250 million insurance policy earlier this year. This transaction contributed to a 77% increase in the group’s new insurance value, reaching US$1.3 billion in the first half of the year. Moncreiffe anticipates that the demand for such large policies, particularly for estate planning purposes, will continue to grow among wealthy individuals.

Highlighting the importance of high-net-worth clients, Moncreiffe stated that transferring businesses and wealth to the next generation is a key focus for many first-generation entrepreneurs in Asia. HSBC Life has issued 15 policies with a sum insured exceeding US$50 million since 2023 in Hong Kong and Singapore, positioning the company as a leader in this space.

In addition to catering to high-net-worth individuals, HSBC Life is capitalizing on the surge in life insurance sales in Hong Kong, which rose by 12% in the first half of the year to a record high. Moncreiffe expects that falling interest rates will drive demand for insurance saving products as people seek higher returns amidst lower deposit rates.

See also  Where to watch Arsenal vs. Milan: Mikel Arteta concerned about squad depth; Massimo Allegri targets UCL

Furthermore, the growing number of Hongkongers residing in the Greater Bay Area presents an opportunity for HSBC Life to provide life, retirement, and medical plans to retirees in the region. Moncreiffe also noted a trend towards multicurrency savings plans among customers in Hong Kong, reflecting the city’s international nature and the diverse financial needs of policyholders.

With customers from 49 different markets purchasing products from HSBC Life in the past year, Moncreiffe emphasized the importance of offering international products and services in a global financial hub like Hong Kong. The company’s focus on high-net-worth clients, innovative product offerings, and strategic market expansion positions HSBC Life for continued growth and success in the insurance industry.

TAGGED:AreaAsiasBayGreaterGrowthHongHSBCinsurerKongLiferetireesrichtargetsTop
Share This Article
Twitter Email Copy Link Print
Previous Article Kylian Mbappe scores first La Liga goal on ridiculous heel through ball from Federico Valverde Kylian Mbappe scores first La Liga goal on ridiculous heel through ball from Federico Valverde
Next Article Trump Adviser’s Horrid Lie Fact-Checked During Fox News Appearance Trump Adviser’s Horrid Lie Fact-Checked During Fox News Appearance
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

57 Thoughts I Had While Watching ‘And Just Like That…’ Season 3, Episode 5

Recap: And Just Like That… Season 3, Episode 5 Another day, another episode of And…

June 26, 2025

Lessons on Art and Community From America’s Cultural Treasures 

The center provides workshops and classes on traditional Native Alaskan crafts, passing down knowledge and…

June 25, 2025

Knicks, Celtics Fans Brawl In Streets After Intense Playoff Game

The matchup between the Celtics and the Knicks on Wednesday night not only brought intense…

May 8, 2025

Engineers Weigh Up Returning to Ancient Roman Concrete Recipes : ScienceAlert

The Sustainability of Ancient Roman Concrete: Lessons for Modern Cement The ancient Romans were master…

July 30, 2025

Forest Whitaker on ‘Godfather of Harlem’ Season 4 Ending & Frank Lucas

Brancato: The fracture in the trio was definitely a surprise, but it also added another…

June 22, 2025

You Might Also Like

When Godzilla Breaks Windows
Economy

When Godzilla Breaks Windows

October 10, 2025
Peter Schiff Describes Bitcoin’s Jump Over 6,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’
Economy

Peter Schiff Describes Bitcoin’s Jump Over $126,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’

October 10, 2025
Veteran analyst drops sharp take on GTA 6 hype
Economy

Veteran analyst drops sharp take on GTA 6 hype

October 10, 2025
Nvidia’s Jensen Huang Says AI Demand Is Up ‘Substantially’ This Year, and Still Growing
Economy

Nvidia’s Jensen Huang Says AI Demand Is Up ‘Substantially’ This Year, and Still Growing

October 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?