Mainlanders buying health insurance plans in Hong Kong pushed up sales by 19.2% in Q1. According to data from Hong Kong Insurance Authority, policies covering critical illness, medical care, and life insurance accounted for 96% of all policies sold in the territory. Savings and investment products, once the darling of mainland investors parking money offshore, accounted for 4% of all sales, with volumes up just 3.3% over the previous quarter.
The trend has been accelerating since 2017. Last year 444,300 mainlanders bought health insurance products in Hong Kong, up 14.6% YoY. Sales of investment products fell 30.6% from 2017.Read more in Chinese.