Increased individual insurance premiums and Mandatory Provident Fund deposits in Hong Kong were offset by a Company-initiated decrease in sales of low margin single premium products in Japan.

• 由于宏利主动于日本市场减少销售低边际溢利的单一保费产品,因而抵销香港个人保险业务保费及强制性公积金供款所取得之增长。