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The Market

As at 31 December 2023, there were 161 authorized insurers in Hong Kong, of which 88 were pure general insurers, 53 were pure long term insurers, 18 were composite insurers and 2 were special purpose insurers.

As at 31 December 2023, there were 1,691 licensed insurance agencies, 78,571 licensed individual insurance agents and 23,662 licensed technical representatives (agent).  In addition, there were 810 licensed insurance broker companies and 10,532 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.