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Life insurance sales in Hong Kong surged in first quarter thanks to world record policy, soaring demand from mainland visitors

Life insurance sales in Hong Kong surged by 39 per cent in the first quarter thanks to a world record policy sold by HSBC Life and strong growth in the number of mainland Chinese visitors buying policies in the city, according to data from the industry regulator. New life insurance sales in the first three months rose to HK$65.3 billion (US$8.4 billion) from HK$47 billion a year earlier. Sales of policies to mainland visitors amounted to HK$15.63 billion, the Insurance Authority figures showed,