Leading life insurance companies in Hong Kong H1 2022, by value of new business

In the first half of 2022, AIA Group generated nine billion Hong Kong dollars in insurance premiums from new businesses in Hong Kong. Compared to the previous years, most life insurance companies had difficulty generating new business. The insurance company Sun Life had the largest gap because it generated around 58 percent lower premium income.

A global giant

As one of the world’s leading financial centers, Hong Kong has a large insurance sector. With a business volume of around 650 billion Hong Kong dollars, the insurance industry accounted for over four percent of the region’s GDP. According to official statistics, the life insurance business was more than 10 times the size of the non-life insurance business.

A popular financial hub

Because of Hong Kong’s unique location and status, the city was a popular location for global financial institutions, including insurance. For instance, seven out of the 10 leading life insurance companies in Hong Kong were not from the region itself. Financial companies enjoy the liberal business environment and economic freedom of the city. In addition, Hong Kong serves as a connection point between the global financial system and mainland China.