Manulife (International) Limited (MIL) has completed a re-domiciliation from Bermuda to Hong Kong under the HKSAR government’s company re-domiciliation regime, becoming the first insurer to finish the process under the framework.
The move brings MIL’s legal domicile into Hong Kong, where it operates one of its largest Asian businesses, and places the entity directly under the city’s corporate and regulatory regime. According to the company, the change is expected to affect how it structures its operations, manages day-to-day activities, and responds to market conditions in the region. “This move reflects our deep-rooted belief in Hong Kong’s future and its importance to our business. Re-domiciling locally strengthens our alignment with Hong Kong’s robust regulatory framework and enables us to better serve our 2.6 million customers in both Hong Kong and Macao, advancing our ambition to be the number one choice for customers,” said Patrick Graham (pictured right), chief executive officer of Manulife Hong Kong and Macau.
MIL said it will continue to offer health and protection, savings, and retirement products, alongside advisory-based distribution in Hong Kong and Macao. The company also said it intends to maintain its existing community and stakeholder initiatives in the market.
The Insurance Authority (IA) has issued a response to media enquiries regarding the re-domiciliation of MIL to Hong Kong. “[The IA] welcomes the re-domiciliation of Manulife (International) Limited to Hong Kong, which fully reflects the strengths and allure of our market driven by Hong Kong’s position as an international financial centre and connectivity among cities in the Guangdong-Hong Kong-Macao Greater Bay Area,” the regulator said.
The IA also said it will continue to work with relevant stakeholders to assist other insurers that may seek to re-domicile to Hong Kong under the current regime, which it has characterised as streamlined and cost-effective, in line with the HKSAR government’s objective of strengthening the city’s headquarters economy.
The Hong Kong legal shift coincides with Manulife Financial Corporation’s third-quarter (Q3 2025) results, in which core earnings increased while reported net income edged down year on year. For the quarter, Manulife reported net income attributed to shareholders of C$1.8 billion (US$1.285 billion), compared with C$1.84 billion in the same period a year earlier. Core earnings, which exclude certain items such as market-related impacts, rose to C$2 billion from C$1.83 billion in the prior-year quarter.
Chief executive Phil Witherington said the Asia and Canada divisions each recorded their highest quarterly core earnings to date. In Asia, core earnings were US$550 million, 29% higher than a year earlier. The company cited business expansion in selected markets, actuarial updates, and insurance experience as contributors. The figures indicate a larger share of earnings coming from Asian life and health portfolios, particularly in markets with increasing protection and retirement needs.
In Canada, core earnings rose to C$428 million, up 4% from the prior-year quarter. The segment’s result was supported by higher investment spreads, growth in group insurance, and continuing contributions from individual insurance. For regional insurers and reinsurers, the pattern reflects a broader trend in which protection and health lines in Asia help balance more volatile investment-related business.
