Sun Life Hong Kong recorded full-year new business annualized premium equivalent (APE) of HK$11.8 billion in 2025, a 46% increase year over year and an all-time high for the company, according to provisional statistics released by the The Insurance Authority (IA) of Hong Kong.
The figures place the firm among the top five nonbank insurers in the territory, a news release noted.
All three of the company’s major distribution channels posted growth in the fourth quarter. The broker channel led gains, with new business APE surging 144% year over year to retain its No. 1 ranking in the market. The bancassurance channel rose 53%, while the agency channel climbed 50%, outpacing the broader industry growth rate of 12% over the same period. The company’s average premium size also ranked among the top three in the market among major nonbank insurers, a figure the company attributed to demand from high-net-worth clients.
“2025 was a landmark year for Sun Life Hong Kong,” said Clement Lam, chief executive officer of Sun Life Hong Kong Limited. “Building on the strong momentum of the previous year, we delivered remarkable results across all three major distribution channels – broker, agency, and bancassurance – with full-year new business APE exceeding HK$10 billion for the first time. Our broker channel has once again secured the No. 1 position in the market. These results reflect the strength of our multi-channel strategy, the discipline of our execution, and the dedication of our teams.”
Lam added that the company intends to deepen its focus on the high-net-worth segment and expand digital capabilities in the period ahead. “We will accelerate our digital transformation and the application of AI to optimize the client experience, and advance insurtech capabilities to deliver more personalized protection solutions that support long-term financial security and healthier living,” he said.
The results came alongside a credit rating upgrade from S&P Global Ratings, which raised Sun Life Hong Kong’s financial strength and issuer credit ratings to “AA” from “AA-” with a stable outlook, citing the company’s strategic importance as a core subsidiary of its parent group.
Sun Life Hong Kong is a wholly owned subsidiary of Sun Life Assurance Company of Canada. Its parent, Sun Life Financial Inc., trades on the Toronto, New York, and Philippine stock exchanges under the ticker symbol SLF. As of Dec. 31, 2025, Sun Life reported total assets under management of $1.60 trillion.
Sun Life Hong Kong is the largest operating entity for Sun Life in Asia, contributing over 40% of the region’s underlying net income. The company’s Asia segment posted underlying net income of CA$207 million in the fourth quarter of 2025, an 18% increase from the prior year, driven primarily by Hong Kong.
