Asia’s high-net-worth insurance market is drawing serious attention from global insurers. Hong Kong’s total cross-border wealth reached US$2.9 trillion in 2025, a 10.7% increase from the prior year. The surge pushed the city past Switzerland as the world’s top cross-border wealth hub.

Mainland Chinese policyholders are a significant driver of that growth. Sales of insurance policies to mainland clients have reached over HK$75 billion since early 2023. Those products typically cover life, critical illness, and savings components denominated in foreign currencies. Demand from that segment shows little sign of slowing.

AXA Group has moved to capture a share of that market with the launch of AXA Global Private. The platform targets high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals and globally mobile families. It is designed for clients with complex, cross-border wealth and protection needs that standard insurance products are not built to handle.

Beyond standard coverage

The platform operates through hubs in Hong Kong and Bermuda. It covers life, wealth, and health protection, alongside specialist coverage for valuable assets.

AXA Group CEO Thomas Buberl said the HNW segment in Asia is growing faster than other markets, making Hong Kong a natural base for the new platform.

“This is a unified platform specifically designed to meet sophisticated, multi-market needs with bespoke solutions, bringing our proven European expertise to Asia to offer customers direct access to curated wealth solutions and diversified asset allocation, including high-quality European assets,” Buberl said.

Sally Wan, CEO of AXA Greater China and AXA Global Private, said a generational shift is driving demand.

“A new generation of high-net-worth families in Asia are looking for integrated, multi-jurisdictional solutions to protect both their wealth and legacy over the long term,” Wan said.

Hong Kong as AXA’s regional anchor

The Global Private launch is the latest step in AXA’s push to strengthen its position in Hong Kong. In January 2026, the group completed the re-domiciliation of AXA China Region Insurance Company from Bermuda to Hong Kong.

The move aligned its legal structure with its operational base in Greater China and was among the first completed under Hong Kong’s new company re-domiciliation regime.

This regulatory backdrop matters. Hong Kong has been actively positioning itself to attract global insurers, and AXA’s back-to-back moves suggest the strategy is working.

Legacy as a selling point

A launch gala held June 8 was attended by AXA senior executives including Deputy CEO George Stansfield and Janet Lee, deputy CEO of AXA Global Private.

The event featured remarks from fashion designer Professor Jimmy Choo, OBE, whose comments on trust and craft connected directly to the platform’s legacy theme.

“True success isn’t measured by recognition, but by the mastery of your craft and the long-term trust you earn from your customers,” Choo said. “Legacy is crafted detail by detail, through perseverance, a relentless commitment to excellence, and an absolute dedication to the people who place their trust in your work.”

AXA said the platform will work with business partners to deliver wealth and protection solutions across the region.