July 18, 2025

Sun Life Hong Kong Invests in Bowtie’s Series C Funding

Strengthens partnership to make health insurance simple, accessible and affordable 

From left to right : Mr. Michael Chan, CEO & Co-Founder of Bowtie; Mr. Clement Lam, CEO of Sun Life Hong Kong Limited; Mr. Fred Ngan, Co-Founder of Bowtie

Hong Kong, July 18, 2025 – Sun Life Hong Kong Limited (“Sun Life”) announced today a further investment of up to US$70 million into Bowtie Life Insurance Company Limited ("Bowtie"). The investment reinforces Sun Life’s long-term partnership with Bowtie, and our shared goal to make health insurance simple, accessible and affordable.

The funding will drive the next phase of growth for Bowtie, Hong Kong’s first virtual insurer1, by enabling the company to further strengthen its leading position in medical insurance and scale preventive healthcare initiatives.

The investment aligns with Sun Life’s broader strategy to collaborate with innovative digital companies and enhance insurance accessibility.

Since Bowtie was founded in 2018, Sun Life has participated in each of the funding rounds, demonstrating confidence in Bowtie’s vision and operation. With this investment, Sun Life will increase its already significant stake in the Company. Bowtie will continue to operate under its current leadership as an associated company of Sun Life, with its own brand identity, distinctive culture and dedicated employee base. 

“Sun Life has been a long-term, committed partner to Bowtie for almost seven years. We’re very pleased to strengthen this partnership to support the next phase of growth,” said Clement Lam, CEO of Sun Life Hong Kong Limited, “At Sun Life, we believe in creating possibilities through innovation and creativity. Through our collaboration with Bowtie, we are combining cutting edge technology with deep insurance expertise, to set standards in delivering meaningful and innovative transformation within the Hong Kong health insurance industry.”

“Bowtie is simultaneously achieving larger scale and faster growth which validates our unique business model and reflects the public’s strong trust in our commitment to treating customers fairly,” said Michael Chan, Co-Founder and CEO of Bowtie, “ Sun Life’s continued partnership reinforces Bowtie’s position as a mission-driven insurer, leveraging technology to better serve customers through simple and transparent products in a friendly digital setting. Going forward, Bowtie will continue to benefit from Sun Life’s strong capital base and shared purpose of helping clients achieve lifetime financial security and live healthier lives. We are grateful for Sun Life’s continued trust and support.” 

Bowtie continues to lead in Hong Kong’s digital insurance market, ranking first in the direct channel2 and securing the 9th position across all distribution channels in terms of new individual non-single premium policies sold3. Internationally, Bowtie is recognized by its No.1 ranking in Hong Kong and No. 65 placement in the Financial Times High-Growth Companies Asia-Pacific 2025 list4, cementing its status among the fastest-growing tech companies globally. 

“These results demonstrate the ability of our digital model to deliver exceptional efficiency and impact to customers, especially as we scale. We’re doubling down on our core strengths, focusing on agentic artificial intelligence, health innovation, and talent development. Our investments in these areas will further enhance the customer experience and keep us ahead of the curve.” said Fred Ngan, Co-Founder of Bowtie.

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About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of C$1.55 trillion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. Sun Life Financial Inc. is the holding company of Sun Life Assurance Company of Canada. Sun Life Hong Kong Limited is a wholly-owned subsidiary of Sun Life Assurance Company of Canada.

About Bowtie

Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer authorized by the Hong Kong Insurance Authority under the Fast Track pilot scheme. Its vision is to bridge the health protection gap and transform the way people access healthcare in Asia. Through digital technology, Bowtie makes health insurance more affordable and accessible for individuals and small-medium enterprises. 

To date, Bowtie has raised over HK$1.0 billion from Sun Life Financial and Mitsui & Co., providing more than HK$100 billion in protection amount to families. Learn more at www.bowtie.com.hk.

 

1Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer authorized by the Hong Kong Insurance Authority under the Fast Track pilot scheme.

2According to Insurance Authority’s Provisional Statistics for Long Term Business 2024, in the fourth quarter of 2024, Bowtie Life ranked first in terms of the number of new individual non-single premium policies sold through Direct channel in Hong Kong.

3According to Insurance Authority’s Provisional Statistics for Long Term Business 2024, in the fourth quarter of 2024, Bowtie Life ranked in no.9 in terms of the number of new individual non-single premium policies sold through all channels in Hong Kong.

4 Official website of Financial Times:  https://www.ft.com/content/98982fa6-e6cc-4e3d-85b6-fce9adc50252