China

Hong Kong’s insurance market may balloon 55% as Greater Bay Area ages

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Hong Kong’s insurance business may expand by a compounded 55 per cent over the next eight years, driven by the so-called silver economy serving senior citizens and growth in the Greater Bay Area, industry experts said on Tuesday.Gross insurance premium in the city may jump to US$127 billion by 2032 from last year’s US$82 billion, said Steve Finch, Manulife Financial’s Asia president, citing industry forecasts.That growth is enabled by the “depth and sophistication of Hong Kong’s insurance...




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