Hong Kong plans to consult on defining mainland insurance customers, allowing non-residents of the mainland to purchase insurance in Hong Kong without having to visit in person.

The definition of Mainland visitors by the Hong Kong Insurance Regulatory Authority does not differentiate based on permanent residency status. For example, those who have come to Hong Kong through the talent admission scheme and plan to settle in Hong Kong are still considered Mainland visitors. The Executive Director (Long-term Business) of the Insurance Authority, Lou Yu Guo, stated that the definition of customers involves related regulatory framework. Currently, the regulations require Mainland residents to come to Hong Kong in person to purchase insurance. However, if they do not live permanently in the Mainland, new regulations may be established in the future to govern based on their new identity without the need to come to Hong Kong in person to purchase insurance, which will help attract Mainland residents living overseas, especially high-end customers, to Hong Kong. In 2004, the predecessor of the Insurance Authority, the Insurance Office, required Mainland residents to come to Hong Kong to purchase insurance to prevent cross-border sales of insurance policies. There were no specific restrictions for individuals with other identities. Lou Yu Guo pointed out that last year, preliminary consultations were held with the industry on customer definitions and regulatory frameworks, and formal consultations will be conducted in the next quarter. This year, guidelines will be issued to define customers and related regulations, including identity documents, changes in sales processes, etc. The Insurance Authority has suspended the publication of the number of Mainland visitor insurance policies for 2025. The Chief Executive, Zhang Yun Zheng, stated that although new life insurance policy premiums increased by 55.9% in the first three quarters of last year, the proportion of Mainland visitors in overall life insurance premiums has dropped to less than 30%. According to the data from the Insurance Authority, the related ratio peaked at 39% in 2016, but it had dropped to 28.6% by 2024 as Mainland China prohibited the use of UnionPay for payment of insurance premiums related to investments. Zhang Yun Zheng also pointed out that Hong Kong also needs to develop regional customer business. However, the current government has not analyzed data in detail for non-local, non-Mainland foreign customers. This time, they will also make a more detailed division based on the customers' place of permanent residence, which will help in promoting to different markets.