Underwriting results in Hong Kong’s general insurance sector were mixed in 2025, with property underwriting profit falling sharply due to claims from the Wang Fuk Court fire.
The bank and the insurer said the offering would focus on wealth and legacy-planning cover for customers, including high-net-worth individuals and visitors.
China Life’s operating profit jumped 55% to 186.12bn yuan (US$27.31bn) in 2025, while New China Life and Ping An posted gains of 29% and 11%, respectively.
Improved new business margins and rise in new business value underpinned Fitch’s decision to affirm the ratings of Great Eastern Holdings’ core insurance subsidiaries.