Sales of international wealth insurance across Asia and the Middle East have jumped since 2023, increasing by £0.7bn and £0.6bn respectively, according to Utmost.
In Asia, international wealth insurance sales climbed from £5.7bn to £6.4bn between 2023 and 2025 while in the Middle East sales rose from £2.4bn to £3.0bn, the second global market study by NMG Consulting found.
Utmost said the rising sales of these solutions signal increased confidence in the continued expansion of the sector – especially in investment-linked solutions across the regions. However, the sector remains significantly underpenetrated, the provider added, offering substantial scope for future growth.
Several favourable demographic, client and industry trends underpin this potential, enhanced by continued improvements in market understanding, Utmost said. These include growing high-net-worth and ultra-high-net-worth populations, evolving international tax regimes and increased wealth mobility, which are creating demand for cross-border wealth planning solutions.
In Asia, international wealth insurance solutions are increasingly well established as a legacy planning vehicle for HNW and UHNW families in the region and are now widely supported by private banks via international brokers, Utmost noted.
As wealth transfer accelerates, there is the opportunity for further growth in Asia as private banks continue to expand access to investment-linked open architecture solutions amid growing appetite among primary advisers to recommend international wealth insurance solutions, the group said, adding that the region has also benefitted from a sharp rebound in Hong Kong and Singapore international broker sales following the pandemic as well as the structural rotation from protection to savings solutions which is supporting growth in broker production.
In the Middle East, the primary driver of growth is the significant recent inflows of wealth leading to increased populations of HNW families, combined with growing awareness of international wealth insurance for these use cases, Utmost said. The adviser community is becoming increasingly interested in Private Placement Life Insurance with enquiries increasing for these products as an alternative to Universal Life Insurance solutions, the group added.
Mark Christal, head of Asia at Utmost, said: “International wealth insurance is becoming an increasingly established part of wealth and legacy planning across Asia. Greater understanding among brokers and advisers, as demonstrated by increasing demand for investment-linked open architecture solutions such as PPLI and VUL, is now beginning to drive up adoption among a wider segment of HNW and UHNW families.
“As awareness continues to develop, there is a significant opportunity for international wealth insurance to play a growing role in helping families manage increasingly complex cross-border wealth and succession requirements.”
Derek Gemmell, head of Middle East and Africa at Utmost, added: “The Middle East continues to cement its status as an attractive destination for wealth as the HNW population expands. We are seeing advisers becoming increasingly interested in PPLI solutions and we expected further adoption of international wealth insurance to broaden as families seek flexible and portable structures for managing wealth across multiple jurisdictions and between generations.”
