New Study: Hong Kong Insurance Report Q2 2016

Hong Kong ' s enormous life insurance segment is sophisticated and dynamic. All major trends - including the insurers ' own ability to develop and distribute attractive new products - are favourable. In the non-life segment, growth will likely be driven by the expansion of the accident & health insurance sub-sector.

Latest Updates And Forecasts

Hong Kong's insurance sector is dominated by the massive and dynamic life segment, which accounts for about 87% of all premiums written. Growth in life insurance premiums will be driven by a number of factors. These include Hong Kong's persistent surplus of savings and the central role played by life insurance in organised savings. In addition, the population is ageing: demand for the insurers' retirement income solutions is rising. The life insurers have been enjoying double digit growth in new business: this is partly because of their development of attractive new products and partly because of their distribution strategies - 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.

Full Report Details at
- http://www.fastmr.com/prod/1132644_hong_kong_insurance_report_q2.aspx?afid=301

The prospects for the non-life segment are less exciting. The fortunes of two of the three main sub-sectors, property insurance and general liability (including workers compensation) insurance, will depend on the general health of the economy. The same is true of many of the smaller sub-sectors. The relatively small motor vehicle insurance sub-sector is constrained by the stagnation in the size of the SAR's motor fleet and downwards pressure on prices. Falling prices will also likely be a challenge in the property insurance sub-sector. Downwards pressure on prices in many sub-sectors, mean that the risks to the forecasts are to the downside. Nevertheless, accident & health insurance - an important business for both life and non-life companies - is likely to expand at (near) double-digit rates: it is benefiting from the ageing of the population and the inflation in healthcare costs.

The Hong Kong Insurance Report has been researched at source and features BMI Research'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.

Key Benefits

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Oman Insurance Report Q2 2016
- Russia Insurance Report Q2 2016
- Serbia Insurance Report Q2 2016
- United Kingdom Insurance Report Q2 2016
- Ukraine Insurance Report Q2 2016