Hong Kong insurers post 35.5% premium growth
SingTao · 2 SOURCESabout 3 hours ago2 MIN
Summary
Hong Kong’s Insurance Authority said provisional figures for the first half of 2026 showed total gross premiums of HK$573.6 billion, up 35.5% year on year. The main driver was long-term business, excluding retirement scheme business, where new office premiums climbed 58.4% to HK$275.2 billion. In-force long-term business premiums also rose strongly, while general insurance posted moderate premium growth but a much sharper increase in underwriting profit. HSBC Life separately said its first-half new business premiums reached HK$66.8 billion, giving it a 24.3% market share
Key Points
- New office premiums in long-term business, excluding retirement schemes, reached HK$275.2 billion, with non-linked individual business contributing HK$262.9 billion.
- Within non-linked individual business, participating business premiums rose 63.7% to HK$245.4 billion, while other business increased 4.9% to HK$17.5 billion.
- Linked individual business new office premiums totalled HK$12 billion, up 73.7%, and insurers issued about 33,000 qualifying deferred annuity policies worth HK$2.1 billion.
- Total premiums from in-force long-term business reached HK$509.9 billion, including HK$465.8 billion from non-linked individual business and HK$22.2 billion from retirement scheme business.
- General insurance gross premiums rose 9.1% to HK$63.7 billion, while overall operating profit increased 48.1% to HK$9.6 billion and underwriting profit jumped 253.1% to HK$5.8 billion.
Why It Matters
The figures point to sustained demand for protection, savings and wealth-transfer products in Hong Kong, especially in long-term insurance lines. They also suggest insurers are improving profitability in general business even as claims paid increased, an outcome that matters for market stability and competition. HSBC Life’s comments on demand from high-net-worth and regional clients add to the picture of Hong Kong’s role as an insurance and wealth-management hub