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Hong Kong insurance market shrinks by 40% as wealthy mainland Chinese vanish

Photo by Jeffrey Lee on Unsplash

Hong Kong’s insurance market has shrunk by almost 40% over the last two years after COVID-19 travel restrictions choked off the flow of U/HNWIs from mainland China to the city, according to a study. The survey by Deloitte and BOC Life, published on Friday, found that the value of new standard premiums was HK$79 billion in 2021. That was a…

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