Manulife pulls loan product for rich Hong Kong clients after scrutiny

Manulife has withdrawn a high-risk loan product aimed at wealthy Hong Kong clients after facing regulatory scrutiny. This product enabled individuals to purchase policies worth up to $80 million with significant leverage, promising returns over 10%. The move highlights the increasing regulatory pressure on financial institutions to ensure the safety and soundness of their offerings, particularly in high-stakes areas like wealth management. This decision may set a precedent for other insurers to reassess their products under heightened scrutiny.