Hong Kong insurers to weather Beijing’s tax shift with 8-10% premium growth: S&P

Hong Kong’s life insurers could still see annual premium growth of 8 to 10 per cent over the next two years, despite a recent regulatory shift stemming from Beijing’s overseas taxation rules, according to credit-rating agency S&P Global Ratings. Resilient demand for overseas diversification should prevent a lasting downturn, the agency said, in the latest vote of confidence in the city’s thriving insurance and wealth management industries. “We expect a temporary slowdown in sales to mainland...