Insurers Settle 85% of Claims From Deadly Hong Kong Fire for $65 Million
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A building destroyed by fire at Wang Fuk Court in Hong Kong on Jan. 26, 2026. Photo: VCG
Insurers have processed 85% of claims related to a massive fire at Hong Kong’s Wang Fuk Court residential estate last year, paying out nearly HK$510 million ($65.4 million) to date, the city’s insurance regulator announced.
The blaze on Nov. 26, 2025, which burned for 43 hours, was the deadliest in a century for the city, killing 168 people.
According to a statement from the Hong Kong Insurance Authority released Tuesday, a total of 1,032 cases had been settled. This includes 863 general insurance claims for home, medical and personal accident policies totaling about HK$450 million. Another 169 life insurance claims have been settled for around HK$60 million.
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- Insurers have settled 85% of claims from Hong Kong’s Wang Fuk Court fire, paying out nearly HK$510 million; 168 people died in the November 2025 blaze.
- Over HK$2 billion in property insurance claims remain pending due to ongoing police and anti-corruption investigations.
- The government’s relief fund has raised HK$4.5 billion for victims, with HK$1.2 billion already distributed for aid.
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Who’s Who
- China Taiping Insurance (Hong Kong) Co. Ltd.
- China Taiping Insurance (Hong Kong) Co. Ltd. held the insurance policy for Wang Fuk Court for 2025-2026, totaling HK$2 billion in property insurance. They reinsured most of this risk, retaining only HK$20-30 million, and have paid out approximately HK$7.3 million in claims so far. The China Taiping Insurance Group also donated HK$10 million to the relief fund and provided temporary housing.
- PICC Reinsurance
- PICC Reinsurance (中再产险) is one of several global reinsurers involved in the insurance policy for Hong Kong's Wang Fuk Court. The specific policy, held by China Taiping Insurance (Hong Kong) Co. Ltd., had a total sum insured of about HK$2 billion. PICC Reinsurance, along with other reinsurers, took on the vast majority of this risk.
- China Re P&C
- China Re P&C is one of several global reinsurers involved in the Wang Fuk Court fire. They hold a portion of the reinsurance for the HK$2 billion property insurance policy taken out by the building's owners' corporation with China Taiping Insurance (Hong Kong) Co. Ltd.
- Munich Re
- Munich Re is mentioned as one of the global reinsurers sharing the risk for the Wang Fuk Court property insurance policy. China Taiping Insurance (Hong Kong) Co. Ltd. reinsured the vast majority of the HK$2 billion policy with a syndicate of reinsurers, including Munich Re, retaining only a small portion itself.
- Swiss Re
- Swiss Re is one of several global reinsurers involved in the Wang Fuk Court fire policy. They, along with companies like PICC Reinsurance and Munich Re, are expected to cover the majority of the HK$2 billion claim, as the primary insurer, China Taiping (HK), retained only a small portion of the risk.
- Qianhai Re
- Qianhai Re is a global reinsurer that participated in the reinsurance policy for Hong Kong's Wang Fuk Court residential estate. This property had significant insurance coverage, and Qianhai Re, along with other reinsurers like PICC Reinsurance, China Re P&C, Munich Re, and Swiss Re, took on the majority of the risk.
- China Taiping Insurance Group
- China Taiping Insurance Group's Hong Kong branch, China Taiping Insurance (Hong Kong) Co. Ltd., held the property insurance policy for Wang Fuk Court in Hong Kong, with a total sum insured of HK$2 billion. They reinsured most of this risk, retaining only HK$20 million to HK$30 million, and have paid out approximately HK$7.3 million in claims so far. The Group also donated HK$10 million to a relief fund and provided 60 apartments as temporary housing for affected residents.
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What Happened When
- Nov. 26, 2025：
- A massive fire broke out at Hong Kong’s Wang Fuk Court residential estate, burning for 43 hours and resulting in 168 deaths.
- 2025–2026：
- Wang Fuk Court’s owners’ corporation held an insurance policy with China Taiping Insurance (Hong Kong) Co. Ltd. covering this period, with a total sum insured of about HK$2 billion.
- As of Jan. 26, 2026：
- The Tai Po Wang Fuk Court Relief Fund had amassed HK$4.5 billion and allocated about HK$1.2 billion for 11 aid measures.
- Feb. 3, 2026：
- Hong Kong Insurance Authority announced that 85% of claims had been processed, totaling nearly HK$510 million in payouts.
- As of Feb. 5, 2026：
- China Taiping (HK) had paid out about HK$7.3 million in claims related to the Wang Fuk Court fire.
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