Hong Kong insurance company
Bowtie Life Insurance is an online insurance company based in Hong Kong.
History.
Bowtie Life Insurance was founded by Fred Ngan and Michael Chan.
In 2018, Bowtie raised HK$234 million (US$30 million) in Series A funding, with investors including the Sequoia-associated HK X-Technology Fund and Sun Life Insurance. In December 2018, Bowtie received a license as a virtual insurance company from the Insurance Authority of Hong Kong, becoming the first virtual insurance company in Hong Kong. The following year, Bowtie began providing life insurance products.
In March 2021, Bowtie established a public café, Bow Coffee, in Wan Chai, in order to have a place for discussion on insurance policies.
In July 2021, with the help of JP Partners Medical, Bowtie opened a service centre in Wan Chai. In October 2021, Bowtie raised US$22.6 million from multiple investors, including Mitsui and Co.
As of 2024, Bowtie has provided US$11.5 billion worth of life and medical protection insurance in Hong Kong since its inception.
References.
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