BOC HONG KONG (02378): Last year, the overall new life insurance business premium increased by nearly 80% year-on-year.

BOC Hong Kong (02378) and China Life Insurance (Overseas) announced the launch of a new "Smart Generations Multi-Currency Plan (Excellence)" ("the plan"), offering up to 9 policy currency options and a policy splitting option to meet the financial needs of clients in different life stages. Li Jianxing, Assistant General Manager of Personal Financial Products at BOC Hong Kong, stated: "According to data from the Insurance Authority, the standard premium of multi-currency new policies in the first three quarters of 2024 increased by 3.6 times year-on-year. The demand for BOC Hong Kong's life insurance products is also continuously rising, with overall new life insurance premium and number of policies in 2024 increasing by nearly 80% and 40% respectively." Li Mingsi, Deputy General Manager of the Hong Kong branch of China Life Insurance (Overseas), stated: "China Life Insurance (Overseas) is very pleased to partner with BOC Hong Kong to launch the 'Smart Generations Multi-Currency Plan (Excellence)', which is underwritten by China Life Insurance (Overseas). Through various features such as multiple potential returns, policy currency conversion, policy splitting, unlimited changes in the insured person, this plan helps clients achieve wealth growth, asset allocation, wealth succession, quality retirement goals, and realize 'wise deployment, prosperous future, spanning generations'. Looking ahead, China Life Insurance (Overseas) will continue to work with BOC Hong Kong to provide the market with more high-quality wealth protection products, helping clients towards a fulfilling life."