The development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), with the launch of Wealth Management Connect
(WMC) could generate nearly US$500 million in annual fees for global and domestic banks. This e-alert covers the opportunities for insurers to:
Expand their current business
Develop new product offerings
Accelerate digital development
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Guangdong-Hong Kong-Macao Greater Bay Area Opportunities for insurers, but challenges to navigate
New developments give potential for Hong Kong insurers, although various challenges will need to be overcome.