Press here to Skip to the main content
Font Size
Default Font Size Larger Font Size Largest Font Size RSS Subscription Advanced Search Sitemap Mobile/Accessible Version 繁體 简体

Insurance premiums up 11%

March 15, 2016

The Hong Kong insurance industry's total gross premiums in 2015 amounted to $365.8 billion, up 10.9% on 2014, the Commissioner of Insurance announced today.

 

Long-term in-force business revenue premiums amounted to $319.8 billion, up 11.9%.

 

Individual Life & Annuity (Non-Linked) business increased 18.4% to $253.3 billion, while Individual Life & Annuity (Linked) business dropped 17.6% to $40.2 billion. Retirement Scheme business contributions rose 15.2% to $22 billion.

 

Long-term business new office premiums for 2015, excluding Retirement Scheme business, rose 15.1% to $131.3 billion.

 

Individual Life & Annuity (Non-Linked) business recorded 23.7% premium growth to $120.4 billion, while Individual Life & Annuity (Linked) business fell 36.2% to $10.2 billion.

 

Mainland visitors' new office premiums amounted to $31.6 billion, representing 24.2% of the total new office premiums ($130.9 billion) for individual business last year.

 

In 2015 general insurance business gross premiums recorded growth of 4.7% to $46 billion, while net premiums grew 5.9% to $32.1 billion.

 

Overall underwriting profit declined from $3 billion to $1.7 billion.



Top
e-cheque