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BOC Life’s Half Year Business Performance Soared to New Heights

24 October 2025

BOC Life’s Half Year Business Performance Soared to New Heights

    BOC Group Life Assurance Company Limited (BOC Life) announced today its half year business performance with record high performance achieved. As of 30 June 2025, the standard  premiums of new policies reached HK$14,831 million, achieved a 34% year-on-year growth  compared to the same period last year, setting a historical record high. BOC Life maintains  its  leading position in Hong Kong’s life insurance market 1, with exceptional performance across multiple business areas:

     

    • The Renmibi (RMB) insurance business continued to outperform the market, with market share exceeded 50%, maintaining as the market leader  for more than a decade2 ;
    • Digital channel business achieved strong growth, with the standard new premiums more than doubled  year-on-year, surpassing the full-year growth of 2024, continue to first in the market3 ;
    • Tied agency channel recorded significant growth, maintaining market No. 1 in per-capita productivity for the first half of 20254 , and the number of Million Dollar Round Table (MDRT) qualifiers surged by 92% year-on-year5 , while the agency force recorded the highest growth rate in the market6 ;
    • Brokers channel also maintained its leading market position, with standard premiums raised by 83% 7 year-on-year in the first half of 2025.

     

    Mr. Wilson Tang, Chief Executive of BOC Life, said: “BOC Life achieved strong business growth in the first half of 2025 and soared to historical record high. We will continue leveraging our ‘Bank + Insurance’ and ‘Insurance + Healthcare’ advantages and enhance multi-channel and cross-sector collaboration in building a comprehensive retirement ecosystem while fostering the development of the silver economy and Greater Bay Area (GBA)’s interoperability with innovative retirement financial and service model. As a pioneer leading the development of the retirement financial market, we will further enhance the retirecation, cross-border and home-based retirement pillars. We are launching new “Financial + Non-Financial” cross-border retirement initiative in the fourth quarter, to strengthen our silver ecosystem and seize the opportunities brought by the silver economy and the GBA integration.”

     

    Sales performance of BOC Life’s multi-currency life insurance and cash flow products remained strong in the first half of 2025. The “IncomeJoy Lifelong Insurance Plan” contributed  approximately HK$2 billion to the business within just nine months since its launch. Several of the company’s whole life insurance products achieved 100% fulfillment ratio. Meanwhile, the “iTarget 3 Years Savings Insurance Plan (Online Application)” doubled its growth in the first half of the year, successfully attracted new customers. In addition, BOC Life also continued to strengthen and expand its customer base at the bank level, leveraging unique advantage of “Bank + Insurance” with Bank of China (Hong Kong) as a key business booster.

     

    BOC Life has formed strategic partnerships with renowned healthcare groups including C-MER Medical Holdings Limited and The Greater Bay Area Healthcare Group, establishing long-term collaboration to enhance cross-border healthcare service offerings through innovative “Insurance + Healthcare” model. The collaborations will provide integrated solutions, addressing the challenges of an ageing population and meeting customers’ growing needs in diverse and high-quality healthcare and retirement protection.

     

    BOC Life will continue to focus on advancing retirement finance development to enhance its brand leadership in retirement. The company has launched an enhanced version of its “RetireCation Experience Programme” in September 2025, expanding the programme to 7  countries in Asia including Japan, South Korea and Thailand, covering a total of 28 premium RetireCation destinations. The uplifted initiative offers enriched retirement options and its high-quality development, to meet the evolving demands of the silver society.

     

    Note

    1. Based on the “Quarterly Release of Provisional Statistics for Long Term Business” published by the Insurance Authority (IA) for January to June 2025 (the “IA’s First Half 2025 Provisional Statistics”) (https://www.ia.org.hk/en/infocenter/statistics/market_7_2025.html). The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums.
    2. Based on the “Quarterly Release of Provisional Statistics for Long Term Business” published by the IA from 2013 to the first half of 2025, the market rankings are calculated using standard premiums of new policies for RMB insurance business. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums.
    3. The standard new business premiums for direct individual life insurance sold through the “Direct sales” Channel, as stated in the IA’s First Half 2025 Provisional Statistics, are calculated. The standard new business premiums are defined as the sum of the annualised premiums and 10 % of single premiums.
    4. 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 2025), and (ii) the direct individual new business (single premiums and annualised premiums) sold though the “Agents” Channel from the IA’s First Half 2025 Provisional Statistics, 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 premiums of new policies, calculated by dividing the total standard premiums of new policies by the number of tied agents, using the first half of 2025 as the reference.
    5. The growth rate of the number of MDRT qualifiers in the first half of 2025 was compared with BOC Life’s internal data on the number of members in 2024 (based on 2025 MDRT membership) and 2025 (based on 2026 MDRT membership).
    6. Based on the number of tied agents in the market as recorded in the “HK Life Insurance Intermediary Monitor” published by the market research company “Pi Financial Services Intelligence” (as of 30 June 2025), the calculation is made with reference to data from the past 24 months.
    7. The standard new business premiums for direct individual life insurance sold through the “Brokers” Channel, as stated in the IA’s First Half 2025 Provisional Statistics, are calculated. The standard new business premiums are defined as the sum of the annualised premiums and 10 % of single premiums.