The Insurance Authority released provisional statistics for Hong Kong's insurance industry in the first quarter of 2019, with gross premiums totalling $148.8 billion during the period, up 12.3% from the same period last year. Premium income from long-term in-force business was $132.2 billion, up 13%, while gross premiums for general insurance were $16.6 billion, up 7%, and overall underwriting swung from a loss of $166 million to a profit of $44 million. Premiums from new policies taken out by mainland visitors were $12.8 billion, up 7.9%, accounting for 26.4% of total new policy premiums for individual business.
Why read this: Gross premiums totalled $148.8 billion in the first quarter, up 12.3% year on year, with breakdown figures for long-term, general insurance and new policies from mainland visitors listed for readers to check item by item.
The Insurance Authority released provisional statistics for Hong Kong's insurance industry in the first three quarters of 2018, with total gross premiums reaching $388.3 billion, up 6.9% year on year. New policy premiums from mainland visitors were $34.1 billion, down 15.8%, accounting for 28.3% of total new policy premiums for individual business. Gross premiums for general insurance were $40.5 billion, up 7.1%, while underwriting swung from a loss of $193 million to a profit of $87 million.
Why read this: The article lists specific figures for gross premiums in the first three quarters, long-term business and new premiums from mainland visitors, along with year-on-year changes, allowing verification of overall growth and the performance of individual segments.
The Insurance Authority released provisional statistics for Hong Kong's insurance industry in the first half of 2018. Gross premiums totalled $253.7 billion during the period, up 7.2% from the same period last year. Premium income from long-term in-force business was $225.8 billion, up 6.9%, while gross premiums from general insurance business were $27.9 billion, up 9.6%. New policy premiums from mainland visitors were $22.3 billion, down 26.6%, accounting for 26.6% of total new policy premiums from individual business.
Why read this: New policy premiums from mainland visitors fell 26.6% year on year, with about 95% being medical or protection-type products, allowing comparison with changes in the structure of visitor demand.
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The Insurance Authority released provisional statistics for Hong Kong's insurance industry for the first half of 2017, with gross premiums of $236.7 billion, up 14.1% year on year. Premium income from long-term business in force rose 15.1% to $211.2 billion, while gross premiums for general insurance grew 6% to $25.5 billion, and overall underwriting profit fell from $1.1 billion to $369 million.
Why read this: The article lists the 14.1% year-on-year rise in gross premiums and the changes in individual business segments, allowing verification of the performance differences between life and general insurance.