Sun Life Hong Kong Limited has announced an investment of up to $70 million in Bowtie Life Insurance Company Limited as part of Bowtie’s Series C funding round.
The move will increase Sun Life’s shareholding in Bowtie, a company it has backed since its founding in 2018. Bowtie, Hong Kong’s first virtual insurer authorized under the Insurance Authority’s Fast Track pilot scheme, will remain independently operated under its current leadership, brand, and workforce.
“Sun Life has been a long-term, committed partner to Bowtie for almost seven years. We’re very pleased to strengthen this partnership to support the next phase of growth,” said Clement Lam, CEO of Sun Life Hong Kong Limited.
“At Sun Life, we believe in creating possibilities through innovation and creativity. Through our collaboration with Bowtie, we are combining cutting edge technology with deep insurance expertise, to set standards in delivering meaningful and innovative transformation within the Hong Kong health insurance industry.”
“Bowtie is simultaneously achieving larger scale and faster growth which validates our unique business model and reflects the public’s strong trust in our commitment to treating customers fairly,” said Michael Chan, co-founder and CEO of Bowtie. “Sun Life’s continued partnership reinforces Bowtie’s position as a mission-driven insurer, leveraging technology to better serve customers through simple and transparent products in a friendly digital setting.”
Fred Ngan, co-founder of Bowtie, said the company is focusing on artificial intelligence, health innovation, and talent development to strengthen its customer service. “These results demonstrate the ability of our digital model to deliver exceptional efficiency and impact to customers, especially as we scale. We’re doubling down on our core strengths, focusing on agentic artificial intelligence, health innovation, and talent development. Our investments in these areas will further enhance the customer experience and keep us ahead of the curve.”
According to the Insurance Authority’s provisional statistics, Bowtie ranked first in the direct channel and ninth across all distribution channels in Hong Kong for new individual non-single premium policies sold in the fourth quarter of 2024. It also placed 65th in the Financial Times High-Growth Companies Asia-Pacific 2025 list.
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