BOC Life posts record first-half new business growth
Bastillepost · 1 SOURCES1 day ago5 MIN
Summary
BOC Life announced that in the first half of 2026, both its new annualized premium equivalent and value of new business hit record highs for the company. It said the performance was driven by a multi-channel strategy, ongoing optimization of customer and product mix, and deeper investment in retirement finance. Citing the latest provisional long-term business statistics for the first half of 2026 released by the Insurance Authority, the insurer said it maintained a leading position in Hong Kong’s life insurance market. Executive Chief Executive Tang Tsz-ping (鄧子平) said the company would continue to pursue high-quality growth, product innovation and service upgrades
Key Points
- BOC Life said its new annualized premium equivalent rose 27% year on year in the first half of 2026, reaching a record half-year premium scale
- The value of new business jumped 56% from a year earlier, also setting a company record, with growth faster than in the same period last year
- The insurer said its renminbi insurance business has ranked first in the market for more than 10 consecutive years, with market share close to 50%
- In direct sales, BOC Life said it ranked first in the market and recorded an 83% year-on-year increase in new annualized premium equivalent
- It also reported growth across bancassurance, exclusive agency and broker channels, while rolling out retirement services with Bank of China (Hong Kong) and Shenzhen Happiness Health Group
Why It Matters
For Hong Kong consumers, the results point to continued competition among insurers in savings, protection and retirement products, especially through bank-linked distribution and cross-border retirement offerings. The company’s emphasis on retirement finance also aligns with the Hong Kong government’s push to develop the silver economy, suggesting more integrated wealth, health and retirement services may be marketed to ageing customers