Leading life insurance companies in Hong Kong 2015, based on gross premiums
This statistic presents the leading life insurance companies in Hong Kong in 2015, based on gross premiums written. HSBC Life led the ranking in 2015, with gross premiums written amounting to approximately six billion U.S. dollars.
Insurance sector in Hong Kong – additional information
Hong Kong has one of the most developed insurance markets in the region and it has attracted many of the world’s top insurance companies. The companies which have written the most life insurance premiums in Hong Kong include HSBC Life, AIA International and Prudential (UK), followed by China Life. For non-life insurance, AXA General, local CTPI (HK), Zurich Insurance and Bupa rounded out the top four premium writing companies in 2015.
It can be observed that life insurance premiums greatly outnumber the number of non-life insurance premiums written. Over 41 billion U.S. dollars of life insurance premiums had been written in 2015, compared to only slightly more than 4 billion U.S. dollars of non-life insurance premiums. The life insurance sector in Hong Kong is as strong as it is because the market is well developed and the population is aging in addition to having the highest life expectancy around the world.
Furthermore, per capita GDP is rising and the population is venturing into retirement planning and wealth management. In Hong Kong, saving for retirement begins at the early age of 28. These conditions have contributed to the rising demand for life insurance in Hong Kong. While growth in the non-life insurance market is not as strong, there is still international interest in the non-life insurance market.
Insurance sector in Hong Kong – additional information
Hong Kong has one of the most developed insurance markets in the region and it has attracted many of the world’s top insurance companies. The companies which have written the most life insurance premiums in Hong Kong include HSBC Life, AIA International and Prudential (UK), followed by China Life. For non-life insurance, AXA General, local CTPI (HK), Zurich Insurance and Bupa rounded out the top four premium writing companies in 2015.
It can be observed that life insurance premiums greatly outnumber the number of non-life insurance premiums written. Over 41 billion U.S. dollars of life insurance premiums had been written in 2015, compared to only slightly more than 4 billion U.S. dollars of non-life insurance premiums. The life insurance sector in Hong Kong is as strong as it is because the market is well developed and the population is aging in addition to having the highest life expectancy around the world.
Furthermore, per capita GDP is rising and the population is venturing into retirement planning and wealth management. In Hong Kong, saving for retirement begins at the early age of 28. These conditions have contributed to the rising demand for life insurance in Hong Kong. While growth in the non-life insurance market is not as strong, there is still international interest in the non-life insurance market.
