Hong Kong’s insurance boom lures job-seeking mainlanders

Hong Kong is seeing an influx of professionals from mainland China’s finance and tech sectors who are disillusioned with their career and salary prospects across the border. – Bloomberg

HONG KONG: Hong Kong is seeing an influx of professionals from mainland China’s finance and tech sectors who are disillusioned with their career and salary prospects across the border. Many are trying to make a living and stay in the city by peddling insurance products, giving a boost to a once-sleepy industry.

Insurers and agents at AIA Group Ltd., Prudential Plc and other financial firms in Hong Kong are recruiting more Chinese citizens to sell insurance plans to visitors from the mainland. That business, which has drawn regulatory scrutiny in the past, is booming again after slumping during the coronavirus pandemic.