Hong Kong Sets World Record with a $318 Million Life Insurance Policy

Hong Kong's FWD Policy Officially Certified by Guinness World Records
Surpasses Previous $300 Million Record Set in Singapore
"Designed to Preserve Wealth and Transfer It Across Generations"

A personal life insurance policy with a coverage amount of $318 million (approximately KRW 427 billion) has been issued in Hong Kong, setting a new world record for the highest-value policy of its kind.

Record Broken Three Times in Three Years as Ultra-High-Value Life Policies Surge

Hong Kong skyline to help readers understand the article. Pexels

According to the South China Morning Post (SCMP) on November 10, FWD Private (Bermuda), a subsidiary of Hong Kong-listed FWD Group, announced that it had issued a life insurance policy with coverage of $318 million. Guinness World Records officially certified the policy on November 11 as the world's highest-value personal life insurance policy. A $201 million policy (approximately KRW 269.9 billion) taken out by a billionaire in California in 2014 had held the Guinness record for 10 years.

Since then, the record has been broken twice: by HSBC Life in February 2024 with a $250 million policy (approximately KRW 335.6 billion), and by Manulife in Singapore this February with a $300 million policy (approximately KRW 402.8 billion). In the 12 months before its record-setting policy, Manulife issued 25 personal policies with coverage exceeding $50 million (approximately KRW 67.2 billion). HSBC Life also said it had issued 10 more personal policies of the same size in the 12 months before its record-setting policy. Manulife said, "Demand among ultra-high-net-worth individuals to preserve their wealth is growing."

FWD Private is the insurance arm of FWD Group, founded by Richard Li, the younger son of Hong Kong tycoon Li Ka-shing, and dedicated to serving high-net-worth individuals. Launched in 2023, it provides wealth preservation and succession services to high- and ultra-high-net-worth individuals. FWD said, "This policy was issued for one individual client and designed to preserve wealth and transfer it across generations." The policyholder's identity and the policy's specific terms were not disclosed. The previous record-setting Manulife policy was reportedly an index-linked universal life (IUL) policy.

The policy was brokered by global insurance brokerage Charles Monat Associates. The company said the same broker had participated in two consecutive record-breaking deals for the world's highest-value life insurance policy. Teddy Chu, CEO of Charles Monat Associates' Hong Kong office, said, "This policy demonstrates that Hong Kong is a global hub for wealth management and life insurance," adding, "Cooperation among insurers, brokers and banks is important to meeting the complex wealth succession needs of high-net-worth individuals."

Hong Kong's Insurance Market Draws the Wealthy, but China's Tax Is a Wild Card

According to the Insurance Authority of Hong Kong, total insurance premiums in Hong Kong reached HK$827 billion (approximately KRW 142 trillion) in 2025, up 29.7% from the previous year. Life insurance sales in the first half of 2026 rose 58% from the same period a year earlier, setting another record. Chinese media outlet Jiemian reported that "Singapore and Hong Kong have emerged as hubs for ultra-high-value life insurance, supported by well-established legal systems and cross-border capital flows." According to the World Wealth Report by French consulting firm Capgemini, the wealth of high-net-worth individuals in the Asia-Pacific region totaled $29.7 trillion (approximately KRW 39.887 quadrillion) in 2025, up 10.5% from the previous year.

SCMP reported that wealthy individuals from mainland China and overseas continue to take out insurance policies in Hong Kong to meet their needs for wealth transfers, coverage and medical care. However, following the Chinese authorities' introduction of a 20% personal income tax on proceeds from Hong Kong insurance policies, some observers said that "some mainland clients may reconsider taking out policies."

This content was produced with the assistance of AI translation services.