"Hong Kong Insurance Report Q4 2014" now available at Fast Market Research

In recent years, successful marketing campaigns by the many global life insurance companies have produced a surge in new business (and total) premiums despite Hong Kong's life insurance segment being very well developed. Life insurers have developed offerings which, compared with alternatives such as cash and equities appear very attractive. There has also been significant increase in interest from mainland China residents in products offered by Hong Kong life insurers. These factors, coupled with Hong Kong's positive macroeconomic outlook support our view that we will see consistently strong growth over the coming years.

As of late-2014 we are expecting growth in premiums to come in at around 10% for both the life and non-life sector. Many of the leading non-life companies have registered near double-digit growth in premiums over the last few quarters due to higher prices for corporate line and greater demand for health and employees compensation insurance. Looking ahead we believe that this trend will broadly continue with the life and non-life sectors both posting near double-digit growth in premiums. Hong Kong's status as a regional and global hub for commerce, logistics and finance will underpin the development of its non-life sector.

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The life segment has also seen very impressive growth in recent years, this mainly being due to very low interest rates and volatile stock markets. Over our forecast period we are expecting the recent rapid growth to continue with annualised growth in premiums of around 10%.

The leading names in Hong Kong's life and non-life sectors generally demonstrate some key strengths: scale, brand recognition, backing of major financial services organisations, suitably broad portfolios of products, access to capital and multi-channel distribution. Many of these companies view Hong Kong as a key market in the region and are focussed on particular opportunities in the market. Many are focusing on particular market opportunities....

The Hong Kong Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Hong Kong Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Hong Kong insurance industry.

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