BOC Life Delivers Strong Growth Across Key Business Metrics in First Half of 2026　Standard New Business Premiums and New Business Value Reach Record Highs

BOC Group Life Assurance Company Limited (“BOC Life” or “the Company”) today announced its business performance for the first half of 2026, with both standard new business premiums and new business value reaching record highs^1,2. Leveraging its diversified distribution strategy, BOC Life continued to optimise its customer base, product portfolio and deepen its retirement finance strategy, driving strong growth across multiple key business metrics.

According to the latest provisional statistics on long-term insurance business in Hong Kong for the first half of 2026 published by the Insurance Authority, BOC Life delivered strong performance across multiple business metrics, maintaining its leading position in Hong Kong’s life insurance market³:

Key Business Metrics in first half of 2026 are as follows:

• Standard new business premiums grew by 27% year on year, reaching a half-year record high¹;
• New business value surged by 56% year on year to a record high, with growth outperforming the same period last year²;
• The Renminbi insurance business maintained its market-leading position for more than a decade, with a market share of nearly 50%⁴;
• The direct sales channel ranked No. 1 in the market, with standard new business premiums growing by 83% year on year⁵;
• The bancassurance channel ranked among the market leaders with standard new business premiums growing by 24% year on year⁶;
• The tied agency channel recorded 20% year-on-year growth on standard new business premiums, while maintaining its leading position in the market in per capita productivity⁷;
• The broker channel ranked among the market leaders and achieved 10% year-on-year growth on standard new business premiums⁸, delivering strong business sales performance in the first half of 2026.
   

Mr. Wilson Tang, Chief Executive of BOC Life, said, “In the first half of 2026, BOC Life continued to deliver strong business performance by responding to evolving market dynamics and customer needs. These achievements reflect our commitment to putting customers first, strengthening our multi-channel distribution strategy and optimising our product portfolio and deepening our retirement finance strategy. We also continued to capitalise on the strong synergies of the ‘Bank + Insurance’ model with Bank of China (Hong Kong) Limited, supporting sustainable business growth. Looking ahead, we will continue to deepen high-quality growth, actively explore opportunities in retirement finance and strengthen cross-sector collaboration. Through ongoing product innovation and service enhancement, we aim to provide customers with comprehensive solutions spanning wealth succession, health management and retirement protection, reinforcing our commitment to being a trusted life partner throughout every stage of their lives.”

In support of the HKSAR Government’s efforts to promote the silver economy, BOC Life continues to expand its retirement ecosystem and help customers enjoy a fulfilling retirement. The Company has collaborated with Bank of China (Hong Kong) Limited to leverage the strengths of the “Bank + Insurance” model, introducing integrated retirement financial solutions that combine insurance products with a broader range of retirement services.

Building on its “Redefine Retirement, Refine Life” offering, BOC Life has developed a comprehensive retirement proposition spanning wealth, health and wellness needs. Its integrated solutions provide one-stop, personalised retirement financial services across geographical boundaries, helping customers plan for a more rewarding retirement.

In addition, BOC Life has partnered with Shenzhen Wellbeing and Wellness Group to develop cross-border retirement experiences, introducing the “Peaceful Greater Bay Area, Healthy Senior Living: Immersive Wellness Experience Programme” for existing customers.

^Notes:

^{1  The standard new business premiums are calculated based on the standard new business premiums for direct individual long term new business in the “Quarterly Release of Provisional Statistics for Long Term Business” published by the Insurance Authority (IA) in January to June 2026 (statistics for 1H 2026 are referred to as the “IA’s 1H 2026 Statistics”:　https://www.ia.org.hk/en/infocenter/statistics/files/2q2026.xlsx
). The standard new business premiums are defined as the sum of the annualised premiums and 10 % of single premiums of new business.}

^{2  New business value and its growth rate are calculated based on the BOC Life’s internal data.}

^{3  Based on the standard new business premiums for direct individual long term new business in the IA’s 1H 2026 Statistics. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.}

^{4  Based on the standard new business premiums for direct individual long term new business issued in RMB in the “Quarterly Release of Provisional Statistics for Long Term Business” published by the IA from 2013 to first half of 2026. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.}

^{5  Based on the standard new business premiums for direct individual long term new business sold through the “Direct sales” channel in the IA’s 1H 2026 Statistics. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.}

^{6  Based on the standard new business premiums for direct individual long term new business sold through the “Bancassurance” channel in the IA’s 1H 2026 Statistics. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.}

^{7  Based on (i) the number of tied agents recorded in the “HK Life Insurance Intermediary Monitor” published by the market research company “Pi Financial Services Intelligence”(as of 30 June 2026), and (ii) the standard new business premiums for direct individual long term new business sold through the “Agents (excluding Bancassurance)” channel as stated in the IA’s 1H 2026 Statistics, and these figures are compared against BOC Life’s relevant internal data for the same period to derive a general statistical estimation. Per capita productivity is defined as the per capita standard new business premiums, calculated by dividing the total standard new business premiums by the number of tied agents, using the data of 1H 2026 as the reference. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.}

^{8  Based on the standard new business premiums for direct individual long term new business sold through the “Brokers” channel in the IA’s 1H 2026 Statistics. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.}