Posted 2/20/2024, 12:30:10 AM
Chinese Insurance Spending in Hong Kong Surged in 2022 But Expected to Slow
- Mainland Chinese spent $7.6 billion on HK insurance policies in 2022, but sales expected to drop as demand fades
- Sales boosted by border reopening, weak yuan, and interest rate gap between China and US
- Pent-up demand from 2020-2022 travel restrictions will fade back to pre-pandemic levels
- Low China interest rates and weak yuan still make HK policies attractive
- Hong Kong to increase enforcement to ensure mainland customers understand products
