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The Market

As at 31 March 2024, there were 160 authorized insurers in Hong Kong, of which 87 were pure general insurers, 53 were pure long term insurers, 18 were composite insurers and 2 were special purpose insurers.

As at 31 March 2024, there were 1,673 licensed insurance agencies, 78,857 licensed individual insurance agents and 23,618 licensed technical representatives (agent).  In addition, there were 808 licensed insurance broker companies and 10,399 licensed technical representatives (broker) on the same date.

In 2022, the total gross premiums of the Hong Kong insurance industry decreased by 7.5% to $538.0 billion.