24 October 2025
The Insurance Authority (IA) today (24 October 2025) released provisional statistics for the first half of 2025, with total gross premiums reaching $423.4 billion.
Long term business
New office premiums (excluding Retirement Scheme business) of long term business were $173.7 billion (increased by 50%), mainly composed of $166.6 billion derived from Non-Linked individual business (increased by 49.7%) which can be further broken down into participating business of $149.9 billion and other businesses of $16.7 billion, as well as $6.9 billion from Linked individual business (increased by 60.8%). Around 44,000 Qualifying Deferred Annuity Policies were issued that contributed $2.8 billion or 1.6% of the total premiums for individual business.
Total revenue premiums of in-force business were $365 billion in the first half of 2025 (increased by 33.7%), mainly composed of $321.8 billion derived from Non-Linked individual business (increased by 32.1%), $12.7 billion from Linked individual business (increased by 18.6%) and $26.7 billion from Retirement Scheme business (increased by 76.4%). Moreover, total claims and benefits paid amounted to $191.9 billion (increased by 4.5%)1.
General business
In the first half of 2025, the total gross and net premiums of general business were $58.4 billion and $39.9 billion respectively, against which total gross claims of $25.6 billion were paid. The overall operating profit was $6.5 billion, of which $1.6 billion represented underwriting profit.
The gross and net premiums of direct business were $30.7 billion and $21 billion respectively, while total gross claims paid amounted to $13.8 billion. The gross premiums mainly came from Accident & Health business, General Liability (comprising Employees’ Compensation) business and Property Damage business which contributed $14 billion, $6.8 billion and $3.5 billion respectively, while the overall underwriting profit of $1.4 billion was largely driven by General Liability (comprising Employees’ Compensation) business, Accident & Health business and Property Damage business but partly offset by losses incurred by Pecuniary Loss business.
On reinsurance inward business, gross and net premiums of $27.7 billion and $18.9 billion respectively were recorded, mainly coming from Property Damage business, Accident & Health business and General Liability business, against which total gross claims of $11.8 billion were paid. 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.
Due to implementation of the Risk-based Capital regime on 1 July 2024, it is inappropriate to compare outturn of the general sector with corresponding figures published before. A summary of the provisional statistics is at Annex. Related information on assets and liabilities of the Hong Kong insurance market is also available at the IA website.
Ends
Note:
1 Including lapsation/surrender benefits of $99.1 billion, as well as other claims and benefits of $92.8 billion.