The expansion is fueled by several factors, including elevated claims, medical inflation, an ageing population, and ongoing infrastructure investments.
Hong Kong’s insurance sector has introduced fast-track measures while pledging more than HK$100m (US$13m) to support those affected by the Wang Fuk Court fire.
Taiping Hong Kong pledges swift claims handling and full support for those affected by the fire that has killed at least 94 people at the scaffold-wrapped estate.
The regulator also highlighted the need for deeper organisational alignment, noting that robust internal systems and clearer procedures are essential for protecting policyholders.
