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Synopsis
Timetric’s 'Non-Life Insurance in Hong Kong, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Hong Kong non-life insurance segment, and a comparison of the Hong Kong insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Hong Kong's economy and demographics, explains the various types of natural hazard and their impact on the Hong Kong insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Hong Kong, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Hong Kong non-life insurance segment, including:

- The Hong Kong non-life insurance segment’s detailed outlook by product category

- A comprehensive overview of Hong Kong's economy and demographics

- A comparison of the Hong Kong insurance industry with its regional counterparts

- Detailed analysis of natural hazards and their impact on the Hong Kong insurance industry

- Details of the competitive landscape in the non-life insurance segment in Hong Kong

- Details of regulatory policy applicable to Hong Kong insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Hong Kong:

- It provides historical values for the Hong Kong non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Hong Kong non-life insurance segment, and market forecasts to 2019.

- It profiles the top non-life insurance companies in Hong Kong, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Hong Kong non-life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Hong Kong non-life insurance segment.

- Assess the competitive dynamics in the non-life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Hong Kong insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The Hong Kong non-life segment posted a review-period compound annual growth rate of 9.2% in terms of gross written premium.

- It was primarily supported by a rise in motor vehicle sales, an increase in construction activity and a favorable regulatory environment.

- Property was the largest category in the non-life segment during the review period.

- The 10 leading insurers collectively accounted for 47.9% of the segment’s gross written premium in 2014.

Table Of Contents

Non-Life Insurance in Hong Kong, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Claims
5.1.3 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Policies
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
7 Natural Hazards
7.1 Typhoon
7.2 Floods
8 Competitive Landscape and Strategic Insights
8.1 Overview
8.2 Leading Companies in the Hong Kong Non-Life Insurance Segment
8.2.1 Zurich Insurance (Hong Kong) Ltd - company overview
8.2.2 China Taiping Insurance (HK) Company Ltd - company overview
8.2.3 Axa General Insurance Hong Kong Ltd - company overview
8.2.4 Bank of China Group Insurance Company Ltd - company overview
8.2.5 QBE Hong Kong and Shanghai Insurance Ltd - company overview
8.2.6 AIG Insurance Hong Kong Ltd - company overview
8.2.7 Asia Insurance Company, Ltd - company overview
8.2.8 MSIG Insurance (Hong Kong) Ltd - company overview
8.2.9 Lloyd's Underwriters - company overview
8.2.10 ACE Insurance Ltd (Hong Kong) - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Employee compensation insurance
9.4.3 Building owners' corporations third-party liability insurance
9.4.4 Professional indemnity insurance for insurance brokers
9.4.5 Civil aviation liability insurance
9.4.6 Fidelity insurance for licence institutions dealing in securities and future contracts
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 The Office of the Commissioner of Insurance (OCI)
9.5.3 The Hong Kong Federation of Insurers (HKFI)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Hong Kong Non-Life Insurance - Key Facts, 2014
Table 2: Hong Kong Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Hong Kong Government Credit Ratings
Table 4: Hong Kong Non-Life Insurance - Gross Written Premium (HKD Billion and US$ Billion), 2010-2014
Table 5: Hong Kong Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Hong Kong Non-Life Insurance - Gross Written Premium (HKD Billion and US$ Billion), 2014-2019
Table 7: Hong Kong Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Hong Kong Non-Life Insurance - Premium per Capita (HKD and US$), 2010-2014
Table 9: Hong Kong Non-Life Insurance - Premium per Capita (HKD and US$), 2014-2019
Table 10: Hong Kong Non-Life Insurance - Paid Claims (HKD Billion and US$ Billion), 2010-2014
Table 11: Hong Kong Non-Life Insurance - Paid Claims (HKD Billion and US$ Billion), 2014-2019
Table 12: Hong Kong Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Hong Kong Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Hong Kong Non-Life Insurance - Total Assets (HKD Billion and US$ Billion), 2010-2014
Table 15: Hong Kong Non-Life Insurance - Total Assets (HKD Billion and US$ Billion), 2014-2019
Table 16: Hong Kong Non-Life Insurance - Investment Portfolio (HKD Billion), 2010-2014
Table 17: Hong Kong Non-Life Insurance - Investment Portfolio (HKD Billion), 2014-2019
Table 18: Hong Kong Non-Life Insurance - Gross Written Premium by Category (HKD Billion), 2010-2014
Table 19: Hong Kong Non-Life Insurance - Gross Written Premium by Category (HKD Billion), 2014-2019
Table 20: Hong Kong Property Insurance - Paid Claims (HKD Billion and US$ Billion), 2010-2014
Table 21: Hong Kong Property Insurance - Paid Claims (HKD Billion and US$ Billion), 2014-2019
Table 22: Hong Kong Property Insurance - Loss Ratio (%), 2010-2014
Table 23: Hong Kong Property Insurance - Loss Ratio (%), 2014-2019
Table 24: Hong Kong Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 25: Hong Kong Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 26: Hong Kong Motor Insurance - Paid Claims (HKD Billion and US$ Billion), 2010-2014
Table 27: Hong Kong Motor Insurance - Paid Claims (HKD Billion and US$ Billion), 2014-2019
Table 28: Hong Kong Motor Insurance - Loss Ratio (%), 2010-2014
Table 29: Hong Kong Motor Insurance - Loss Ratio (%), 2014-2019
Table 30: Hong Kong Liability Insurance - Gross Written Premium (HKD Billion), 2010-2014
Table 31: Hong Kong Liability Insurance - Gross Written Premium (HKD Billion), 2014-2019
Table 32: Hong Kong Liability Insurance - Paid Claims (HKD Billion and US$ Billion), 2010-2014
Table 33: Hong Kong Liability Insurance - Paid Claims (HKD Billion and US$ Billion), 2014-2019
Table 34: Hong Kong Liability Insurance - Loss Ratio (%), 2010-2014
Table 35: Hong Kong Liability Insurance - Loss Ratio (%), 2014-2019
Table 36: Hong Kong Transport Network - Global Rankings
Table 37: Hong Kong Marine, Aviation and Transit Insurance - Gross Written Premium (HKD Billion), 2010-2014
Table 38: Hong Kong Marine, Aviation and Transit Insurance - Gross Written Premium (HKD Billion), 2014-2019
Table 39: Hong Kong Marine, Aviation and Transit Insurance - Paid Claims (HKD Billion and US$ Billion), 2010-2014
Table 40: Hong Kong Marine, Aviation and Transit Insurance - Paid Claims (HKD Billion and US$ Billion), 2014-2019
Table 41: Hong Kong Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 42: Hong Kong Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 43: Hong Kong Average Annual Loss by Hazard, 1990-2014
Table 44: Shares of Key Insurers in the Hong Kong Non-Life Insurance Segment (%), 2014
Table 45: Zurich Insurance (Hong Kong) Ltd - Key Facts
Table 46: Zurich Insurance (Hong Kong) Ltd - Key Financials (HKD Million), 2010-2014
Table 47: China Taiping Insurance (HK) Company Ltd - Key Facts
Table 48: China Taiping Insurance (HK) Company Ltd - Key Financials (HKD Million), 2010-2014
Table 49: Axa General Insurance Hong Kong Ltd - Key Facts
Table 50: Axa General Insurance Hong Kong Ltd - Key Financials (HKD Million), 2010-2014
Table 51: Bank of China Group Insurance Company Ltd - Key Facts
Table 52: Bank of China Group Insurance Company Ltd - Key Financials (HKD Million), 2010-2014
Table 53: QBE Hong Kong and Shanghai Insurance Ltd - Key Facts
Table 54: QBE Hong Kong and Shanghai Insurance Ltd - Key Financials (HKD Million), 2010-2014
Table 55: AIG Insurance Hong Kong Ltd - Key Facts
Table 56: AIG Insurance Hong Kong Ltd - Key Financials (HKD Million), 2011-2014
Table 57: Asia Insurance Company, Ltd - Key Facts
Table 58: Asia Insurance Company, Ltd - Key Financials (HKD Million), 2010-2014
Table 59: MSIG Insurance (Hong Kong) Ltd - Key Facts
Table 60: MSIG Insurance (Hong Kong) Ltd - Key Financials (HKD Million), 2010-2014
Table 61: Lloyd's Underwriters - Key Facts
Table 62: Lloyd's Underwriters - Key Financials (HKD Million), 2010-2014
Table 63: ACE Insurance Ltd (Hong Kong) - Key Facts
Table 64: ACE Insurance Ltd (Hong Kong) - Key Financials (HKD Million), 2010-2014
Table 65: Hong Kong - Insurance Regulatory Framework Key Features
Table 66: Hong Kong - Life Insurance Regulatory Framework
Table 67: Hong Kong - Property Insurance Regulatory Framework
Table 68: Hong Kong - Motor Insurance Regulatory Framework
Table 69: Hong Kong - Liability Insurance Regulatory Framework
Table 70: Hong Kong - Minimum Cover for Aircraft Liability Per Accident Per Aircraft
Table 71: Hong Kong - Corporation Tax Rates for the Financial Year 2016
Table 72: Hong Kong Insurance Industry - Policies and Premium, 2010-2014
Table 73: Hong Kong Insurance Industry - Policies and Premium, 2014-2019
Table 74: Hong Kong Non-Life Insurance - Policies and Premium, 2010-2014
Table 75: Hong Kong Non-Life Insurance - Policies and Premium, 2014-2019
Table 76: Hong Kong Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 77: Hong Kong Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 78: Hong Kong Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 79: Hong Kong Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 80: Hong Kong Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 81: Hong Kong Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 82: Hong Kong Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 83: Hong Kong Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 84: Hong Kong Non-Life Insurance - Gross Written Premium by Sub-Category (HKD), 2010-2014
Table 85: Hong Kong Non-Life Insurance - Gross Written Premium by Sub-Category (HKD), 2014-2019
Table 86: Hong Kong Non-Life Insurance - Direct Written Premium by Sub-Category (HKD Billion), 2010-2014
Table 87: Hong Kong Non-Life Insurance - Direct Written Premium by Sub-Category (HKD Billion), 2014-2019
Table 88: Hong Kong Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 89: Hong Kong Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 90: Insurance Industry Definitions

List of Figures
Figure 1: Hong Kong Real GDP, 2010-2019
Figure 2: Hong Kong HKD/US$ Exchange Rate, 2010-2019
Figure 3: Hong Kong Consumer Price Inflation, 2010-2019
Figure 4: Hong Kong Current Account Balance (Percentage of GDP), 2010-2014
Figure 5: Hong Kong Unemployment Rate, 2010-2019
Figure 6: Hong Kong Population by Age Group, 1991-2025
Figure 7: Hong Kong Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Hong Kong Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Hong Kong Non-Life Insurance - Gross Written Premium (HKD Billion), 2010-2019
Figure 10: Hong Kong Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Hong Kong Non-Life Insurance - Premium per Capita (HKD), 2010-2019
Figure 12: Hong Kong Non-Life Insurance - Paid Claims (HKD Billion), 2010-2019
Figure 13: Hong Kong Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Hong Kong Non-Life Insurance - Total Assets (HKD Billion), 2010-2019
Figure 15: Hong Kong Non-Life Insurance - Investment Portfolio (HKD Billion), 2010-2019
Figure 16: Hong Kong Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 17: Hong Kong Non-Life Insurance - Gross Written Premium by Category (HKD Billion), 2010-2019
Figure 18: Hong Kong Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 19: Hong Kong Property Insurance - Construction Value Output by Category (HKD Billion), 2010-2014
Figure 20: Hong Kong Property Insurance - Paid Claims (HKD Billion), 2010-2019
Figure 21: Hong Kong Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (HKD Billion and %), 2010-2019
Figure 22: Hong Kong Total Vehicle Registrations, 2010-2014
Figure 23: Hong Kong Total Registrations By Vehicle Type, 2014
Figure 24: Hong Kong Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 25: Hong Kong Motor Insurance - Paid Claims (HKD Billion), 2010-2019
Figure 26: Hong Kong Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (HKD Billion and Percentage), 2010-2019
Figure 27: Hong Kong Labor Force (Million), 2010-2014
Figure 28: Hong Kong Liability Insurance - Gross Written Premium (HKD Billion), 2010-2019
Figure 29: Hong Kong Liability Insurance - Paid Claims (HKD Billion), 2010-2019
Figure 30: Hong Kong Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (HKD Billion and %), 2010-2019
Figure 31: Hong Kong Marine, Aviation and Transit Insurance - Gross Written Premium (HKD Billion), 2010-2019
Figure 32: Hong Kong Marine, Aviation and Transit Insurance - Paid Claims (HKD Billion), 2010-2019
Figure 33: Hong Kong Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (HKD Billion and %), 2010-2019
Figure 34: Economic Losses by Natural Hazards (Percentage Share), 1990-2014
Figure 35: Shares of Key Insurers in the Hong Kong Non-Life Insurance Segment (%), 2014
Figure 36: Hong Kong - Insurance Supervision and Control at Various Levels
Figure 37: Hong Kong - Insurance Regulatory Frameworks for Company Registration and Operation

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