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Hong Kong Life Insurance Sales Reach Record HK$330.9 Billion in 2025
Life insurance sales in Hong Kong increased 50.6 percent to HK$330.9 billion in 2025, setting a new record. The growth was driven by affluent customers purchasing policies for wealth transfer, protection, and medical needs. Data from the Insurance Authority showed this followed a previous record in 2024.
South China Morning PostAudio version
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Life insurance sales in Hong Kong rose 50.6 percent in 2025 to HK$330.9 billion (US$42.2 billion), according to data released by the Insurance Authority on April 24, 2026. This marked a new record, surpassing the HK$219 billion recorded in 2024.
The increase in sales was linked to more wealthy individuals establishing family offices in Hong Kong. The city does not impose estate duty and has provided tax incentives for single-family offices since 2023. These factors have attracted affluent families to the jurisdiction.
By the end of 2025, Hong Kong had more than 3,380 single-family offices, an increase of about 680 over the previous two years, according to a study by the Hong Kong Institute for Monetary and Financial Research. Paul Murray, CEO of Swiss Re’s life and health business, stated that Hong Kong's rule of law and low-tax regime make it suitable for succession planning through insurance policies.
The HSBC Life CEO said the industry captured both onshore and offshore demand across Asia. This contributed to the record sales figures. The continuous growth reflects Hong Kong's appeal as a financial hub for wealth management. The Insurance Authority's data provides insight into the sector's performance amid these trends.
