South East Asia is witnessing a surge of interest from globally mobile people and companies with previously unheralded locations benefitting from the region’s lifestyle, cost base and tensions across the Middle East.
However, while demand for life cover is holding up across mainland China and Hong Kong, the same cannot necessarily be said for international private medical insurance (IPMI).
But the consensus is that expat demand to relocate to this region shows no signs of abating in 2026 and beyond.
Renewed interest for life cover in China
“We’re seeing renewed interest in life insurance in China and Hong Kong. In fact, China was one of our top three countries of residence for individual life insurance policies in 2025,” William Cooper, director at William Russell, tells Health & Protection.
“We are not entirely sure what is driving the demand, but it is welcome: these Far East countries used to be hotspots for us for IPMI but have dried up for us in recent years.”
Stephen Ho, chief marketing officer at Pacific Prime, agrees, adding China is attracting more cautious sentiment than in previous years.
“It remains strategically important for many multinational organisations,” Ho continues.
“But geopolitical considerations, regulatory complexity and a more measured corporate mobility approach have reduced some of the long-term expatriate appetite, particularly among Western assignees.”
More selective relocation
But Romain Di Meglio, regional chief executive officer at April International, Asia Pacific and the Middle East, contends Southeast Asia and Greater China continue to attract the most interest, although relocation is becoming more selective.
“Singapore remains the destination of choice for large multinational corporations, particularly for senior leadership roles,” Di Meglio says.
“However, tightening visa requirements means fewer upper mid‐management positions are being filled by foreign professionals, reflecting a clear policy focus on attracting C‐suite and high‐impact strategic talent.”
Di Meglio adds Thailand and especially Vietnam, are dynamically attracting international professionals.
“Strong economic growth, expanding regional operations, and competitive cost structures are making these markets increasingly appealing,” he continues.
“Malaysia is also gaining momentum, particularly as GCC‐based companies look to expand into Asia and establish regional or operational hubs in a business‐friendly environment.
But Hong Kong is slowly restarting, with renewed inflows of younger, highly qualified international executives alongside a strong pipeline of Mainland China‐based talent, he adds.
“This reflects a gradual, more targeted recovery rather than a return to earlier expat volumes,” he says.
Lifestyle, schools and Middle East conflict push popularity
And the apparent lack of appetite to move to mainland China does not apply across East Asia.
“We are seeing expatriate demand continue to gravitate toward destinations that offer practical lifestyle advantages alongside business accessibility,” Ho reveals.
“Thailand and Malaysia are currently standing out because they combine relatively low living costs with mature healthcare infrastructure, established expatriate communities and strong international schooling options.
“Cities such as Bangkok and Kuala Lumpur are increasingly viewed as sustainable long-term bases rather than purely transitional assignments.”
That international school option is a key driver for expats, according to Peter Lurie, owner of Proactive Insurance.
“If families are going to the Far East, then they will want to be around community focused people,” Lurie explains.
“They will be sending their kids to international schools. They will be trying to work and live within that framework.
“It’s quite hard for families to adapt, but generally speaking from what we’ve seen from other international perspectives, for families to move abroad specifically as expats do, they will certainly go to an area where there’s an international school.”
Unsurprisingly, the Middle East has become a less popular destination due recent tensions and conflicts, but this has been to the advantage of places like Singapore, Thailand, Vietnam and Hong Kong, according to Julien Mathieu, co-founder and CEO at Alea.
Mathieu maintains expats like the safety, business opportunities, quality of life, and expat friendly nature of such locations.
Medical inflation higher costs drag
However, Mathieu adds medical inflation remains an issue for expats.
“There is a very wide range of IPMI options available, with many insurers present in the region,” he continues.
“However medical inflation is high and that’s a problem, especially in a context where the economy slows down.”
Pacific Prime’s Ho agrees, adding: “We are also seeing greater scrutiny around high-cost regional centres generally, where housing, schooling and benefit costs can materially increase total assignment spend.
“Employers are increasingly comparing whether similar regional coverage can be achieved from lower-cost Southeast Asian hubs.”
According to Ho, this underlying shift means expatriates and employers are now making relocation decisions through a broader lens.
“Cost efficiency remains important, but so do healthcare quality, visa accessibility, political stability and day-to-day quality of life,” he continues.
“Hybrid working has also widened the range of viable locations, allowing professionals to prioritise destinations where compensation packages stretch further without compromising lifestyle.”
Key enabler of successful relocation
Though Ho points out that from a benefits perspective, comprehensive health and protection cover remains one of the most important enablers of successful relocation.
“Access to private healthcare, direct billing arrangements, evacuation cover, life protection and disability benefits all provide essential reassurance, particularly for expatriates relocating with families,” he continues.
“In many cases, the strength of the benefits package directly influences both assignment acceptance and long-term retention.”
Chantal Leprêtre, client adviser at SIP Medical Family Office, concurs.
“For the business I see in Singapore, clients tend to place a strong emphasis on having comprehensive medical benefits, covering both hospitalisation and outpatient treatment,” Leprêtre says.
“While they are often open to low or mid‑level deductibles or co-payments, the priority is clearly on robust, all‑inclusive coverage.
“Many of our clients in this region are European, and given their frequent travel back to Europe or the possibility of relocating there in the future, they are particularly focused on ensuring long‑term portability of their policy.”
Portability of work and wealth
Mark Christal, head of Asia at Utmost, maintains a key structural shift across the market is the increasing portability of work and wealth.
“It is now increasingly common for families to have assets, residency and tax exposures spread across multiple jurisdictions meaning that more people are exploring their options when it comes to permanent and temporary relocation,” Christal explains.
“Children may study in one jurisdiction, build careers in another and inherit wealth while resident elsewhere entirely. As the world becomes more interconnected, business owners and HNWs are less likely to remain in a single jurisdiction.
“Remote and hybrid working models are enabling individuals to relocate internationally without severing ties to their home market, while governments across Asia are actively introducing visa schemes to attract global talent.”
Providing a portable structure
For Christal this where insurance-based wealth solutions are hitting the mark.
“This is where insurance-based wealth solutions are becoming crucial for expats who are looking to manage their money efficiently by providing a portable structure that can adapt to changes in residency while maintaining tax efficiency and continuity of investment strategy,” he concludes.
Steady demand
And looking to the future, Ho reveals he expects relocation demand across Asia to remain steady through the rest of the year.
“Southeast Asia is likely to continue outperforming because it offers the strongest balance of affordability, infrastructure and lifestyle appeal,” he continues.
“Employers are still moving talent into the region, but there is clearly more emphasis now on destinations that can deliver both business practicality and employee wellbeing.”
April international’s Di Meglio expects demand to remain resilient but selective.
“Mobility decisions are increasingly shaped by risk awareness and the quality of benefits on offer, rather than headcount alone,” Di Meglio says.
“Markets with strong healthcare ecosystems and insurers able to provide consistent cross‐border cover alongside healthcare navigation support will remain best positioned to attract and retain international talent.”
Adam Harding, executive director, international benefits at Howden, tells Health & Protection he expects to see growth in the South East Asia region.
“With everything going on in regions like the UAE, the desire for more security and safety will drive a desire to relocate, but maintain the expat lifestyle and benefits, Asia becomes a natural next step,“ he says.
But he also concedes the benefits landscape is tightening.
“Medical costs in Asia are rising faster than anywhere else globally, and employers are responding with cost-sharing and benefit redesign,” he continues.
“For organisations looking to attract internationally mobile talent into the region, the quality of the health benefits package will be an increasingly important differentiator, not just a baseline expectation.”
