International Wealth Insurance Sales Rise by 6% in Asia

Global Insurance Desk: International wealth insurance sales across Asia climbed 6% a year to reach $8.6 billion between 2023 and 2025 even though overall penetration remains low. The figure rose from $7.7 billion in 2023, according to research by Utmost and NMG Consulting, delivering a compound annual growth rate of 6.0%. The increase shows the market continuing to expand after the post-pandemic normalisation period.

High-net-worth and ultra-high-net-worth families in the region are turning to these products more often for legacy planning. Private banks are increasingly supporting the solutions through international brokers, while rising wealth transfers and wider access to investment-linked open-architecture options are adding further momentum. Advisers themselves are also becoming more willing to recommend the products.

Despite the recent gains the market is still significantly underpenetrated, which leaves room for additional growth as the number of wealthy households expands, capital becomes more mobile and international tax rules continue to evolve. Greater awareness among brokers and advisers together with expanded broker capacity is helping adoption.

Hong Kong and Singapore have seen international broker sales rebound since the pandemic, and a broader shift from pure protection products toward savings solutions is supporting production across the region.

In the Middle East the same segment grew faster, rising from $3.2 billion in 2023 to $4.1 billion in 2025 at a compound annual rate of 10.4%. Wealth inflows and a larger high-net-worth population are the main drivers, along with rising awareness of the product set.

Advisers there are showing particular interest in Private Placement Life Insurance as an alternative to traditional universal life solutions. The Dubai International Financial Centre is emerging as a stronger global wealth hub, and expanding private bank and family office activity across the region is expected to sustain further demand.

Mark Christal, head of Asia at Utmost, noted that improved understanding among brokers and advisers is lifting interest in investment-linked open-architecture structures such as Private Placement Life Insurance and variable universal life.