中国经济网北京7月17日讯 近日，原香港中文大学金融学系讲座教授郎咸平质疑香港保险为"精心设计 的骗局"，引发市场对内地赴港投保的关注。 钛媒体亦于同日发布《郎咸平质疑港险高收益，友邦等险企内卷竞争引发市场焦虑》，为了遏制保险公 司利用激进的投资假设进行营销，香港保监局在今年2月发布了《分红保单利益演示利率上限指引》， 要求自2025年7月1日起，港元和非港元分红保单的最高演示年回报率分别不得超过6%和6.5%。然而， 面对监管新规，友邦香港迅速推出了"环宇盈活"储蓄计划，虽然将演示利率控制在6.5%上限内，却主 打"更快回本"和"更高前期收益"，继续在市场中掀起波澜。监管新规的初衷是给无序竞争踩刹车，让险 企放慢对"高收益噱头"的追逐。然而，友邦的这一举动却被业界视为"换赛道继续卷"，通过新的营销点 刺激销售，恐陷入"饮鸩止渴"的循环。这一举动也引发了刚购买7%旧产品客户的不满，他们直呼"被背 刺了"。 中国经济网记者就上述内容采访友邦保险相关负责人，截至发稿未收到回复。 （责任编辑：马先震） 每日经济新闻于7月7日发布报道《7%收益要等70年？被郎咸平炮轰"七大坑"，香港保险还能买吗？》 称，在郎咸平看来 ...

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].

Core Viewpoint - The article discusses the intense competition and risks in the Hong Kong insurance market, particularly focusing on the high return promises made by insurance companies and the regulatory responses to curb these practices [2][7][55]. Group 1: Market Dynamics - The Hong Kong insurance market has seen a surge in demand from mainland customers post-pandemic, leading to fierce competition among insurers [4][12]. - AIA, the leading insurer, has raised its "century return rate" to 7%, despite regulatory limits set by the Hong Kong Insurance Authority [6][13]. - The competition has resulted in a "cat-and-mouse game" between insurers and regulators, highlighting the anxiety and risks associated with high return promises [7][31]. Group 2: Return Promises and Risks - The 7% return rate is based on optimistic assumptions and is not guaranteed, with the actual guaranteed return being less than 0.5% annually [17][18]. - A significant portion of the returns is derived from equity investments, which introduces high uncertainty and volatility in actual returns [15][29]. - Early withdrawal penalties and the structure of policies can significantly reduce the actual cash value received by customers [26][30]. Group 3: Regulatory Responses - In response to the aggressive marketing of high return rates, the Hong Kong Insurance Authority has set a cap on demonstration return rates to 6% and 6.5% for different types of policies [32][39]. - Despite these regulations, AIA quickly launched a new product that promises faster returns, raising concerns about whether this undermines the regulatory intent [34][40]. - The ongoing competition and regulatory measures have left consumers confused about the best products available, as new offerings frequently outpace existing ones [41][55]. Group 4: Long-term Implications - The current focus on short-term performance may lead to long-term risks for the industry, as companies prioritize immediate results over sustainable practices [54][52]. - The article suggests that the management of these companies may not be concerned about the long-term viability of the products sold, as they may not be in their positions when the consequences arise [52][53].