BOC Group Life Assurance Co Ltd (BOC Life) has recorded its strongest-ever performance in the first three quarters of 2025, achieving record-high new business premiums and reinforcing its leadership in Hong Kong's life insurance market.
As of September 30, 2025, the company's standard new business premiums surged 48 percent year-on-year to HK$21.430 billion ($2.74 billion), according to a BOC Life statement.
The company maintained its dominant position across multiple sectors, with its renminbi insurance business holding the top market position for more than a decade with a market share consistently exceeding 50 percent.
BOC Life’s digital channel business also ranked first in the market, with its standard premiums for new policies already surpassing the full-year total of 2024.
The tied agents channel continued to lead the market in per-capita productivity, while the number of qualifiers meeting the annual Million Dollar Round Table membership requirements rose by 60 percent compared to the previous year.
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Wilson Tang, Chief Executive of BOC Life, attributed the success to a strategic focus on retirement services.
“As a pioneer in Hong Kong’s retirement financial services, BOC Life launched a number of initiatives in 2025 fostering a distinctive retirement ecosystem,” he said.
Tang explained that by deepening a cross-boundary retirement model integrating “Financial and Non-Financial” services, the company leveraged its “Banking + Insurance”, “Insurance +Healthcare”, and “Insurance + Wellness” strengths to provide diversified high-quality retirement solutions for cross-border customers and foster collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
In 2025, BOC Life established strategic partnerships with leading medical institutions, elderly care operators, and healthcare service providers in the GBA.
The company collaborated synergistically with Bank of China (Hong Kong), Bank of China Shenzhen Branch, and Shenzhen Wellbeing and Wellness Group to optimize resources and enhance three key retirement service pillars: Retirecation, cross-border, and home-based retirement choices.
The company also introduced innovative, market-first products, including the “RetireCation Immersive Retirecation Experience.” Offered as a policy benefit under the “IncomeJoy Lifelong Insurance Plan,” this initiative allows customers to receive steady retirement income while experiencing different retirecation lifestyles at curated locations.
Looking ahead, Tang noted a growing demand for cross-border retirement. “Led by the BOC’s ‘BOC Silver Age’ retirement finance brand, BOC Life will continue expanding collaborations with cross-industry partners to actively research and launch new high-quality and diversified products and services, addressing the needs across different customer segments while meeting the societal needs of the silver economy,” he added.
