24 April 2026
The Insurance Authority (IA) today (24 April 2026) released provisional statistics for 2025, with total gross premiums reaching $827 billion (increased by 29.7%).
Long term business
New office premiums (excluding Retirement Scheme business) of long term business were $330.9 billion (increased by 50.6%), mainly composed of $312.1 billion derived from Non-Linked individual business (increased by 49.9%) which can be further broken down into participating business of $282.8 billion (increased by 55.1%) and other businesses of $29.3 billion (increased by 13.7%), as well as $18.5 billion from Linked individual business (increased by 65.4%). Some 59,000 Qualifying Deferred Annuity Policies were issued that contributed $3.7 billion or 1.1% of the total premiums for individual business.
Total revenue premiums of in-force business were $718.5 billion in 2025 (increased by 33.7%), mainly composed of $632.7 billion derived from Non-Linked individual business (increased by 34.1%), $30.2 billion from Linked individual business (increased by 25.8%) and $49.3 billion from Retirement Scheme business (increased by 38%). Moreover, the total claims and benefits paid amounted to $363 billion (increased by 3%)1.
As of 31 December 2025, total assets under long term business grew to $5,398 billion and net assets were $744.3 billion.
General business 2
The total gross and net premiums of general business in 2025 were $108.5 billion (increased by 8%) and $74.1 billion (increased by 6.3%) respectively, against which total gross claims of $55.4 billion were paid (increased by 4.5%). The overall operating profit was $11.4 billion (increased by 39.7%), of which $2.9 billion was attributable to underwriting profit (decreased by 12.5%).
Direct business recorded gross and net premiums of $54.8 billion (increased by 6.6%) and $37.8 billion (increased by 5.7%) respectively, against which $29.1 billion of gross claims were paid (increased by 3.9%). The gross premiums were primarily driven by onshore Accident & Health business which contributed $23.7 billion (increased by 10.8%). The overall underwriting profit of $3.2 billion (increased by 174.7%) was supported by the turnaround in onshore Pecuniary Loss (including mortgage guarantee) business and onshore Accident & Health business, which recovered from a loss of $1.4 billion to a profit of $0.5 billion, and improved from a loss of $0.4 billion to a profit of $0.9 billion respectively. On the other hand, the underwriting profit of onshore Property Damage business dropped substantially to $15.8 million from $0.6 billion (decreased by 97.2%), after the claims paid and reserves provided by insurers in relation to the fire at Wang Fuk Court.
On reinsurance inward business, gross and net premiums were $53.7 billion (increased by 9.4%) and $36.2 billion (increased by 7%) respectively, against which $26.3 billion of gross claims were paid (increased by 5.1%). The gross premiums were primarily driven by offshore Property Damage business amounting to $19.6 billion (increased by 12%) and Accident & Health business amounting to $10.6 billion (increased by 12.3%). An overall underwriting loss of $0.4 billion was recorded compared with a profit of $2.1 billion (decreased by 118.1%), mainly attributable to the sagged underwriting results of offshore Property Damage business, General Liability business and Accident & Health business.
As of 31 December 2025, total assets under general business grew to $337.9 billion and net assets were $136.5 billion.
A summary of the provisional statistics is at Annex. Related information on assets and liabilities of the Hong Kong insurance market for 2025 is also available at the IA website.
Ends
Notes:
1 Including lapsation/surrender benefits of $183.9 billion, as well as other claims and benefits of $179.2 billion.
2 As the end of financial year for certain insurers do not fall on 31 December, their data for 2024 is only partially included.