On 18th September 2025, the Faculty of Finance of City University of Macau held a finance seminar, China Life—Guangfa Bank Joint Lecture at Golden Dragon Campus, Macau. The seminar featured Mr. Felix Wong, Marketing Manager of the Bancassurance Department at China Life (Overseas) Co. Ltd. Macau Branch, was invited as the keynote speaker. The seminar focused on the theme: “The Perspective of Bancassurance: Integration and Growth.” Distinguished guests included Mr. Ray Pang, Deputy General Manager of China Life (Overseas) Co. Ltd. Macau Branch, and 12 professional guest team members from China Life (Overseas) Co. Ltd., as well as Dean Adrian Cheung and Associate Dean Eva Khong of the Faculty of Finance.

The keynote speaker, Mr. Felix Wong, Marketing Manager of the Bancassurance Department at China Life (Overseas) Co. Ltd. Macau Branch, possesses 11 years of experience working in financial institutions. He is an authorized corporate culture lecturer for China Life and has delivered over 100 public speeches and institutional training sessions. He has also qualified for the Million Dollar Round Table (MDRT). Mr. Wong expressed his delight at having the opportunity to share his experience with the students.

At the beginning of the seminar, Mr. Wong introduced China Life (Group) Company as a central financial enterprise and a state-owned extra-large insurance corporation. He also provided a brief overview of China Life (Overseas) Co. Ltd. Macau Branch, which has been operating in Macau for over 36 years. Its main businesses include life insurance, group medical insurance, and pensions, holding a significant position in the Macau life insurance market with 14 cooperating agent banks encompassing 134 branches. Mr. Wong delved into the development history of Macau's insurance industry and the historical evolution, current status, and development trends of bancassurance cooperation within the insurance sector.

He pointed out that bancassurance involves cooperation between banks and insurance companies, where they leverage shared resources and complementary advantages, utilizing the bank's channels, customer base, and credibility to sell insurance products. Mr. Wong provided an in-depth analysis of the development history, core value, opportunities, challenges, and future prospects of bancassurance. He explained that bancassurance originated in Europe in the 1970s and gradually became an important sales model in the global insurance market. In Macau, although bancassurance started relatively late, it has become one of the core channels for insurance business growth, leveraging the advantages of dense local bank branch networks and high customer trust.

Mr. Wong highlighted the core value of bancassurance: for consumers, it offers service convenience, product diversity, and risk diversification; for financial institutions, it enables business and income diversification, resource complementarity and efficiency improvement, and enhanced customer loyalty; for the financial market, it promotes mixed financial operations, optimizes resource allocation for both parties, and strengthens the stability of the financial industry. He cited examples of bancassurance cooperation in Mainland China, Hong Kong, and Macau. Facing challenges such as changes in the market environment, evolving consumer demands, and cross-border business complexities, the bancassurance business needs to accelerate digital transformation, promote product diversification, and deepen strategic cooperation with banks. In the future, Macau's bancassurance market will leverage the core policy benefits of the "Guangdong-Hong Kong-Macao Greater Bay Area" and the "Hengqin Guangdong-Macao Deep Cooperation Zone," focusing on characteristic "cross-border" and "integrated" products, such as cross-border healthcare and health retirement insurances. This will serve Macau's strategy for appropriate economic diversification and further promote the development of the bancassurance market.

During the Q&A session, students actively asked questions and engaged in lively interaction with the China Life guest team. Finally, the faculty and students of the CityU Macau Faculty of Finance expressed their sincere gratitude to Mr. Felix Wong and the 12-member guest team, hoping for more in-depth cooperation in the future. This lecture combined behavioral finance with the market practices of the bancassurance industry. Students indicated that this workshop was their first exposure to bancassurance, providing them with preliminary knowledge of the industry both domestically and internationally. They found the exchange and interaction highly beneficial, offering deep insights into the opportunities and sustainable development provided by the bancassurance sector.