The Insurance Authority (IA), the insurance regulator of all authorised insurance companies and licensed insurance intermediaries in Hong Kong, has released provisional data for the first half of 2025, indicating total gross premiums of HK$423.4 billion across the market.
Within the long term insurance segment, new office premiums – excluding those from retirement scheme business – jumped 50% to HK$173.7 billion, compared to the same period last year.
This figure was mainly composed of HK$166.6 billion in premiums from non-linked individual business, increasing by 49.7%, which can be further broken down into participating business of HK$149.9 billion and other businesses of HK$16.7 billion, the regulator said.
Total revenue premiums of in-force business were $365 billion in H1 25, increasing 33.7%, mainly composed of $321.8 billion derived from Non-Linked individual business, which grew 32.1%; $12.7 billion from Linked individual business, up by 18.6%; and $26.7 billion from Retirement Scheme business, which increased by 76.4%.
Moreover, total claims and benefits paid amounted to $191.9 billion, which experienced a slight increase of 4.5%.
In H1 25, the total gross and net premiums of general business were HK$58.4 billion and HK$39.9 billion respectively, against which total gross claims of HK$25.6 billion were paid.
The overall operating profit was HK$6.5 billion, of which HK$1.6 billion represented underwriting profit.
Direct business generated gross premiums of $30.7 billion and net premiums of $21 billion. Total gross claims paid reached $13.8 billion.
The primary contributors to gross premiums were: Accident & Health, with $14 billion; General Liability (including Employees’ Compensation), with $6.8 billion; and Property Damage, with $3.5 billion.
An overall underwriting profit of $1.4 billion was achieved, largely driven by General Liability (including Employees’ Compensation), Accident & Health, and Property Damage businesses. However, this profit was partially offset by losses incurred in the Pecuniary Loss business.
Reinsurance inward business generated gross premiums of $27.7 billion and net premiums of $18.9 billion, primarily driven by Property Damage, Accident & Health, and General Liability businesses.
Gross claims totalling $11.8 billion were paid against this business.
The overall underwriting profit was $0.2 billion, largely driven by Property Damage business but partly offset by losses incurred by General Liability business and Motor Vehicle business.
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