2025年7月1日前，港险迎来一波销售热潮，内地客户"打飞的"赶在"演示利率新规"生效前最后一刻完成 投保，代理人忙到"飞起"的盛况至今还历历在目。 近日，香港保险业监管局（以下简称香港保监局）公布的数据显示，香港2025年前三季度长期业务(不 包括退休计划业务)的新造保单保费达到2644.52亿港元，与2024年同期相比增长55.9%。其中，分红业 务新保单保费为2262.75亿港元，同比增长60.1%。 最新出炉的2025年前三季度数据意味着，"限高"后，港险吸引力仍在。对此，有市场观察人士在受访时 对《每日经济新闻》记者分析认为，预计2025年内地访客业务量增长迅速。 近年来，内地居民赴港投保险种中，分红型终身寿险、储蓄寿险等具有投资储蓄属性的险种保费占比 高。2025年首季起，香港保监局未再披露内地投保数据，但从2025年前三季度各类险种增长情况看，投 资属性较强的分红业务和相连业务增长率最高。 低利率下，钱该放哪里，是当下老百姓关注的一大问题，配置港险会是一个好选择吗？ 内地客业务量增长迅速 "我投了美元理财产品，但2025年收益一直不太好。股票波动太大不敢买，选的基金产品也涨不动。"投 资者小陈在 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 去年7月1日前，港险迎来一波销售热潮，内地客户"打飞的"赶在演示利率新规生效前最后一刻完成投 保，代理人忙到飞起的盛况至今还历历在目。 "我投了美元理财产品，但去年收益一直不太好。股票波动太大不敢买，选的基金产品也涨不动。"投资 者小陈在跟朋友聊天时说道，港险有6%收益率很有吸引力，有意拿出一部分资金配置港险。 更多像小陈一样的投资者已经付诸行动。香港保监局数据显示，2025年前三季度，长期业务（不包括退 休计划业务）的新造保单保费达到2644.52亿港元，同比增长55.9%。其中，分红业务新保单保费为 2262.75亿港元，同比增长60.1%；其他个人业务252.29亿港元，同比增长22.1%；相连业务126.56亿港 元，同比增长75.7%；非退休计划团体业务2.92亿港元，同比下降18.2%。 | 長期業務 (新造業務 #) Long Term Business (New Business #) | | | | | --- | --- | --- | --- | | | | 保單保障 Office Premiums | | | 廣 ...

Core Viewpoint - The article discusses the increasing trend of mainland Chinese customers purchasing insurance in Hong Kong, despite criticisms labeling it as a "carefully crafted scam" by some experts like Lang Xianping. It explores the reasons behind this trend, the perceived benefits of Hong Kong insurance, and the potential risks involved [5][6][9]. Group 1: Market Trends - The Hong Kong insurance market is experiencing significant growth, with new policy premiums expected to reach HKD 219.8 billion in 2024, a 22% increase from 2023. Mainland customers contributed HKD 62.8 billion, accounting for nearly 30% of new policies sold [5][8]. - The majority of new policies are savings-type insurance, which dominate the market with a 62.1% share in terms of policy count, and approximately 91% of new policy premiums come from savings-type products [8][9]. Group 2: Reasons for Popularity - Mainland customers are seeking higher returns due to declining interest rates on domestic savings products, which typically offer around 2% returns. In contrast, Hong Kong insurance products present more attractive expected returns, often around 6.5% [9][12]. - The historical stability of the Hong Kong insurance market, with no recorded bankruptcies among life insurance companies, and a robust regulatory framework contribute to its appeal. Most products maintain a dividend realization rate between 95% and 105% [9][11]. Group 3: Product Features and Risks - Hong Kong insurance products offer features such as multi-currency options, flexible beneficiary designations, and various payout structures, which enhance their attractiveness for wealth transfer and long-term financial planning [11][22]. - However, the article highlights the risks associated with these products, including the potential for high advertised returns to be misleading, as actual returns may only be around 3% to 4% over a 10-year period, with significant penalties for early withdrawal [13][16]. Group 4: Consumer Guidance - The article advises potential buyers to carefully evaluate the product's yield structure, company reputation, and historical dividend performance before purchasing. It emphasizes the importance of understanding the balance between guaranteed and non-guaranteed returns [24][26]. - Consumers are also cautioned about the risks of information asymmetry and the potential for aggressive sales tactics in a highly competitive market, which may lead to poor purchasing decisions [28].

Core Viewpoint - The criticism of Hong Kong insurance by scholar Lang Xianping highlights seven major pitfalls, raising concerns about the industry's practices and the perceived risks associated with high-yield products [1][2]. Group 1: Criticism of Hong Kong Insurance - Lang Xianping identifies seven major pitfalls in Hong Kong insurance, including unrealistic 7% returns, penalties for early withdrawals, significant discrepancies in product returns, high rejection rates for health claims, expensive legal fees, foreign exchange controls, and invalid policies signed in mainland China [1]. - The recent adjustment of the dividend insurance demonstration interest rate cap from 7% to 6.5% by the Hong Kong Insurance Authority has intensified the scrutiny on the industry, as many mainland clients rushed to purchase insurance before the change [1][2]. Group 2: Industry Overview - The Hong Kong insurance industry has developed a unique model over more than a century, with total gross premiums reaching HKD 310.9 billion in the first half of 2024, a 5.1% increase year-on-year [4]. - Mainland clients accounted for HKD 29.7 billion of new premiums, representing 25.7% of the total new business [4]. - The industry manages assets exceeding USD 4.5 trillion, ranking first in Asia and second globally, attracting significant interest from global investors due to factors like broad investment options, high product pricing rates, and policy flexibility [4][5]. Group 3: Regulatory Environment - Hong Kong's insurance sector is governed by a stringent regulatory framework, ensuring detailed reporting of investments and preventing misleading asset inflation [5][6]. - The Insurance Authority can impose various measures on companies facing irregularities, ensuring that clients' reasonable returns are paid on time [6]. Group 4: Product Features and Market Dynamics - Hong Kong insurance products are diverse, including whole life, savings, medical, critical illness, and annuity plans, with a notable preference for whole life insurance among mainland visitors [6][7]. - The ability to change policyholders and beneficiaries multiple times, along with the option to convert non-guaranteed returns into guaranteed ones, enhances the appeal of these products [7]. - The market consists of 157 licensed insurance companies and 1,649 licensed insurance agents, with the top 50 companies generating total premiums of HKD 516.5 billion in 2023, reflecting a 2.33% growth from 2022 [17]. Group 5: AIA's Position and Recent Developments - AIA Group, a leading player in the Hong Kong insurance market, has faced scrutiny following Lang Xianping's criticisms, particularly regarding its product strategy in light of regulatory changes [14][18]. - AIA's recent launch of the "Universal Income Plan" aimed to comply with the new interest rate cap while offering attractive early returns, which has sparked debate about the sustainability of such strategies [18][19]. - The company's actions reflect broader industry challenges in balancing competitive offerings with regulatory compliance and risk management in a low-interest environment [19].