Referring to studies projecting hundreds of billions of dollars in intergenerational wealth transfers by 2030, Bindra notes that insurance will play an increasingly critical role as an asset class. UBS’s 2025 Billionaire Ambitions report highlighted that 91 heirs inherited a record US$297.8 billion ($383.15 billion), a 36% increase from the previous year.
The approach by high net worth individuals (HNWIs) to insurance is very different from that of retail clients.
According to Harpreet Bindra, CEO of HSBC Life Singapore, HNW clients place particular emphasis on legacy and estate planning, which support business continuity and philanthropic objectives, among other priorities. Philanthropy, he notes, is gaining in popularity among these clients.
