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Hong Kong Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 59 pages

Includes 3 FREE quarterly updates

BMI View: As of early 2016, the latest results from the leading insurance companies highlight thedynamism and sophistication of the players in both the life and the non-life segments. In the life segment,demand is being boosted by high savings rates, the central role played by insurers in the organised savingslandscape and mainland visitors. In the non-life segment, growth is being driven by two sub-sectors -accident & health and motor vehicle insurance.

Key Updates And Forecasts

- Hong Kong's insurance sector is dominated by the massive and dynamic life segment, which accounts forabout 87% of all premiums written. Growth in life insurance premiums will be driven by a number offactors. These include Hong Kong's persistent surplus of savings and the central role played by lifeinsurance in organised savings. In addition, the population is ageing: demand for the insurers' retirementincome solutions is rising. The life insurers have been enjoying double digit growth in new business: thisis partly because of their development of attractive new products and partly because of their distributionstrategies - which normally rely on multiple channels. Finally, there are substantial, and still growing,opportunities to sell protection, savings and wealth management offerings to residents of mainland China.If anything, the risks to forecasts are to the upside.

Table Of Contents

Hong Kong Insurance Report Q2 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Hong Kong 2013-2020) 7
Insurance 8
Industry Forecast 10
Life Premiums Forecast 10
Table: Life Premiums (Hong Kong 2013-2020) 13
Table: Life Insurance Claims (Hong Kong 2008-2015) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Hong Kong 2013-2020) 17
Table: Non-Life Insurance Claims (Hong Kong 2009-2015) 18
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (Hong Kong 2013-2020) 27
Industry Risk Reward Ratings 28
Asia Pacific Industry Risk/Reward Index 28
Table: Asia Pacific Insurance Risk/Reward Index Q216 29
Market Overview 30
Life Market Overview 30
The Product Offering 31
Table: Life Insurance Market (USDmn), 2007-2014 31
The Competitive Landscape 32
Table: Life Insurance Market (%), 2007-2014 32
Non-Life Market Overview 35
The Product Offering 35
Table: Non-Life Insurance Market (2007-2014), USDmn 36
The Competitive Landscape 36
Table: Non-Life Insurance Market (%) 2007-2014 37
Company Profile 39
AIA Group 39
AXA 43
Manulife Financial 46
Prudential plc 48
Sun Life Financial 51
Methodology 53
Industry Forecast Methodology 53
Risk/Reward Index Methodology 56
Table: Indicators 58
Table: Weighting of Indicators 59

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