11/05/2016

Chinese Purchases Of Hong Kong Insurance Coverage Surge To Record

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Hong Kong’s insurance coverage sales to Chinese citizens more than doubled in the 2nd quarter to a record even as China’s regulators took further actions to limit purchases of the products, which can work as a method to avoid the nation’s capital controls.Mainland purchases

of insurance and associated financial investment policies in the three months ended June climbedreached HK$ 16.9 billion ($2.2 billion) from HK$ 7.1 billion a year earlier, inning accordance with numbers obtained from first-half figures reported Wednesday by the Office of the Commissioner of Insurance coverage in Hong Kong. That compared to the previous high of HK$ 13.2 billion in the

< meta itemprop = suid content = O81A3I6KLVRF > very first quarter.For the very first half of the year, sales to Chinese locals totaled up to HK$ 30.1 billion, or 37 percent of new private premiums in the city. That compares with 34 percent for the very first three months of the year.


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