Key Points
- Hong Kong's general insurance industry generated gross written premiums of HK $108.5 billion in 2025, an 8% increase from the previous year.
- The industry's growth is attributed to higher demand for health and property coverage, driven by factors such as an ageing population and private medical treatment.
- The industry's competitive landscape remains highly fragmented, with none of the participating insurers controlling more than a tenth of the market.
Why Hong Kong's General Insurance Industry Saw 8% Premium Growth
Hong Kong's general insurance industry experienced an 8% increase in gross written premiums in 2025, driven by higher demand for health and property coverage. The industry's growth is attributed to factors such as an ageing population, private medical treatment, and a greater need for commercial risk protection.
The industry's competitive landscape remains highly fragmented, with none of the participating insurers controlling more than a tenth of the market. This has presented difficulties for companies seeking to increase their premium income through organic business development.
At a Glance
| Gross Written Premiums | HK $108.5 billion 8% increase from 2024 |
| Number of Insurers | 87 Authorised to conduct exclusively non-life business as of 31 March 2026 |
| Market Share | None of the insurers control more than 10% Highly fragmented market |
| Health Coverage | 37% of market premiums Accident and health (A&H) policies |
| Property Damage | Broadly unchanged share Between 2024 and 2025 |
Behind the 8% Premium Growth: A Closer Look at the Industry's Trends and Challenges
Why Health and Property Coverage are Driving Growth
The ageing population and private medical treatment have increased demand for health coverage, while the greater need for commercial risk protection has driven demand for property coverage.
Behind the 8% Premium Growth: A Closer Look at the Industry's Trends and Challenges
The industry's growth is also attributed to expanding inward reinsurance portfolios and a greater need for commercial risk protection amid more frequent catastrophic incidents.
What Insurers Should Do Next
Insurers should reassess their risk appetite and strategy in light of the recent catastrophic incidents, and consider stricter underwriting standards for high-risk locations.
What Hong Kong Insurers Should Do Next
Key Takeaways for Hong Kong Insurers
- Reassess risk appetite and strategy in light of recent catastrophic incidents.
- Consider stricter underwriting standards for high-risk locations.
- Take advantage of expanding inward reinsurance portfolios to drive growth.
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