Exponential Growth

Bowtie’s exponential growth has led to the overall expansion of the online channel, contributing to a threefold increase in the direct channel market share of the insurance industry from 2.9% to 8.5%^1,2. With a market share of around 30%³ in the direct sales channel, Bowtie once again ranked number one for the first half of 2023 in Hong Kong’s direct channel, a position held for two consecutive years.

US$34.9 Million Series B2 Funding

In September 2023, Bowtie was thrilled to announce the successful completion of a US$34.9 million Series B2 funding round. The round was led by main investor Sun Life Hong Kong Limited, with further participation by Mitsui & Co., Ltd. This reaffirmed their confidence in Bowtie's long-term development, given its proven traction in changing how customers access health insurance.

Bowtie is the same as all the other major traditional insurance companies in Hong Kong and must comply with the strict regulations of the Insurance Authority regarding solvency. Under the regulations of the Insurance Authority, Bowtie must reserve sufficient reserves to meet claims, so the probability of bankruptcy/ closing down is extremely low.

In addition, the Insurance Authority also requires insurance companies to engage in reinsurance, which is essentially "insurance for insurance companies". Bowtie must reinsure itself with reinsurance companies to help pay claims, so Bowtie policyholders need not worry.

1. The percentage of policies sold through direct sales channel compared to the total number of policies sold among long term business in all channels.
2. With reference to the Provisional Statistics For Long Term Business for 2018-2022 published by the Insurance Authority.
3. According to Insurance Authority’s Provisional Statistics for Long Term Business 2021-2023, Bowtie Life ranked first in number of new individual paid policies through Direct channel in Hong Kong.