A Bermudian-incorporated insurer has set a new world record by issuing a $318 million life insurance policy to an individual.

FWD Private, the high-net-worth business of FWD Life Insurance Company (Bermuda), surpassed the previous record of $300 million set by Manulife Singapore in February, the South China Morning Post reported.

FWD did not identify the customer. The company said the policy was issued for “an individual customer’s wealth preservation and intergenerational legacy planning”.

The company was this week recognised by Guinness World Records for issuing the most valuable life insurance policy.

Charles Monat Associates Hong Kong, an insurance broker, arranged the sale. Teddy Chu, its chief executive, said: “This record policy underscores Hong Kong’s position as one of the world’s leading wealth management and life insurance hubs.”

Because the policy was issued by FWD’s Bermudian insurer, the sale will be excluded from Hong Kong’s insurance sales figures, the Post reported.

The insurer is part of Hong Kong-listed FWD Group, founded by billionaire Richard Li Tzar-kai. FWD Life Insurance Company (Bermuda) is registered with the Bermuda Monetary Authority as a Class E long-term insurer.

Shelyne Shum, FWD Private’s chief partnership distribution officer, said the sale reflected strong demand for legacy planning among wealthy customers.

“This record-breaking policy marks an important milestone for FWD and reflects the trust that high-net-worth customers place in us,” Ms Shum said. She added that the company continued to “accelerate growth across Asia”.

The sale is the third new world record mark in less than three years. HSBC Life Hong Kong sold a $250 million policy in early 2024, breaking a record that had stood for almost a decade. A technology billionaire in California bought the previous record-holder, a $201 million policy, in March 2014.

Hong Kong’s life insurance sales rose 58 per cent in the first half of 2026 to a record HK$275.16 billion ($35.3 billion), according to figures from the city’s Insurance Authority cited by the Post. It was the fourth consecutive year of record first-half sales, with demand from affluent customers from mainland China and overseas.

Kenrick Chung Kin-keung, chief executive of Hong Kong-based broker Equator Asset Protection, told the Post that insurers had increasingly introduced policies designed to transfer wealth across several generations. He said he expected Asian insurers to issue more record-breaking policies as wealth in the region grew.