27 May 2025
The Insurance Authority (IA) today (27 May 2025) expressed full support for a wide suite of measures unveiled by the Working Group on Promoting Silver Economy (“Working Group”).
Mr Stephen Yiu, Chairman of the IA, pointed out that “Hong Kong values the longevity of its indigenous population, but we must also grapple with the rising demand for social support and medical services which it brings. Apart from encouraging our citizens to draw up and implement a retirement plan in good time, the Working Group has formulated effective and pragmatic measures that leverage changing demographics to spur economic growth.”
“In this context, the IA has been exploring with insurers having the necessary experience and capability whether they can introduce affordable products that enable the citizens of Hong Kong to access quality elderly care facilities located in Mainland cities of the Greater Bay Area.” he added.
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