A milestone roughly 7 times rarer than a “Unicorn” — reached by Hong Kong’s first virtual insurer
HONG KONG, July 7, 2026 /PRNewswire/ — Bowtie, Hong Kong’s first virtual insurer[1], today announced it has crossed US$100 million in Annual Recurring Revenue (ARR)[2] — reaching the global technology benchmark known as “Centaur” status[3], a milestone roughly 7 times rarer than a “Unicorn”.
From left to right: Fred Ngan, Co-Founder of Bowtie; John Tsang, Senior Advisor of Bowtie; Michael Chan, CEO and Co-Founder of Bowtie
A “Centaur” is widely seen as a more meaningful benchmark than a US$1 billion “Unicorn” valuation, as it reflects real, repeated decisions by real customers to keep paying for services they value.
Achieving this in one of the world’s most traditional, relationship-driven insurance markets — and in just 7 years from founding — places Bowtie among the fastest-growing technology companies in the world.
Bowtie reached this scale by staying true to its core mission: delivering affordable, pure-protection products that are transparent and highly accessible. Every dollar of revenue represents our customers’ trust and affirmation of our products.
Today, Bowtie is trusted by over 150,000 customers — roughly 1 in every 50 Hong Kong residents — with a total protection amount of US$20 billion[2]. Its flagship VHIS products account for nearly 50,000 in-force policies, with VHIS ARR up 40% year on year[2].
Even while growing quickly, Bowtie has maintained a customer retention rate of over 93%[2]. In insurance, persistence is the truest measure of trust: customers only renew, year after year, when a product genuinely serves them. Sustaining persistence this high while scaling fast is rare — and it is the clearest sign that the model is working for customers, not just for the company.
“First, we want to thank our team for believing in the mission. Today, on average, every Bowtie employee supports US$500,000 in ARR, and carries US$100 million in protection coverage for society. We take real pride in that efficiency — because it is what lets us deliver the highest value, and the deepest trust, to our customers,” said Michael Chan, CEO and Co-Founder of Bowtie.
The milestone carries meaning beyond Hong Kong. As the first virtual insurer in one of Asia’s most competitive financial markets, Bowtie’s trajectory signals to regulators, partners and investors across the region that, a purely digital, agent-free insurance model is not only viable at scale — it offers a compelling alternative to traditional models, built on high efficiency and deep customer trust.
“Seven years ago, we set out to prove that insurance could be built differently. It is rare for any startup to reach US$100 million in ARR at this speed and scale — and rarer still to do it while staying true to 100% pure-protection products, with healthy claims, strong retention and sound economics. We are proud of that discipline. But we see this not as a finish line — it is a floor we intend to build on, for Hong Kong and for the rest of Asia,” said Fred Ngan, Co-Founder of Bowtie.
To celebrate this milestone, Bowtie is delighted to roll out an exclusive promotion:
- Bowtie’s Insurance Flash Offer (From now until 30 July 2026): Applicants who apply for designated Bowtie insurance products via the online platform using the promo code “CENTAUR” can enjoy a 10-month premium waiver[4][5].
About Bowtie
Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer authorized by the 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 billion from Sun Life Financial and Mitsui & Co., providing over HK$150 billion in protection amount to families. Learn more at www.bowtie.com.hk.
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[1] Bowtie Life Insurance Company Limited is Hong Kong’s very first virtual insurer authorized by the Insurance Authority under the fast track pilot scheme. |
