Market Report, "Hong Kong Insurance Report Q3 2011", published

July 6, 2011 - PRLog -- Key Insights And Key Risks

*  Even though life density exceeds US$3,000 per capita, Hong Kong's life segment continues to boom. There is no reason why this cannot continue.
 *  Thanks partly to the discipline shown by the major companies, non-life penetration has risen steadily over the last six years or so. There is also no reason why this cannot continue.
 *  By far the most important risk is volatility in Chinese financial markets (and, by extension, those of Hong Kong) that causes investor sentiment to sour. The experience of the global financial crisis is that this would likely cause life density to fall but not plummet.


Hong Kong's insurance sector remains one of the strongest and most dynamic of any that is surveyed by BMI. This is not just because the protagonists include virtually every major global and regional multinational, nor just because the regulatory regime presided over by the Office of the Commissioner of Insurance (OCI) is first class. It is not just because the special administrative region (SAR) remains the premier regional business centre for Greater China (or, as some of Hong Kong's supporters might argue, the entire Asia Pacific region), or because of the thrift of its inhabitants.

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Full Report Details at
- http://www.fastmr.com/prod/205401_hong_kong_insurance_rep...
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The latest figures published by the regulator and the leading insurance companies show that non-life penetration continues to grow. Even though Hong Kong residents need far less car insurance than people in most other countries, and the market is competitive, non-life insurers have continuously identified new market opportunities, with the result that premiums have expanded faster than nominal GDP. Health insurance is expanding, partly due to Hong Kong's demographics (ie: an ageing population). New regulations have compelled the owners' corporations of apartments to take out liability cover. The marine insurers are looking for new opportunities from the further development of Hong Kong as a trading port.

Life insurance is seen as a very attractive channel for organised savings. New and renewal premiums have been growing at rates well into double digits. This is partly a reflection of investor confidence. It is also testament to the inventiveness of the life insurers in two ways: the development of attractive new products and the promotion of efficiency in distribution, particularly, but not only, through banks via bancassurance arrangements and through agents.  

Report Table of Contents:

Executive Summary
- Table: Total Premiums, 2008-2015
- Key Insights And Key Risks
SWOT Analysis
- Insurance Industry SWOT
- Hong Kong Political SWOT
- Hong Kong Economic SWOT
- Hong Kong Business Environment SWOT
Life Sector
- Asia Pacific Life Sector Overview
- Table: Asia Pacific's Life Premiums, 2008-2015 (US$mn)
- Hong Kong Life Sector Update
- Table: Life Insurance Breakdown, 2009-2010
- Life Industry Forecast Scenario
- Table: Life Premiums, 2008-2015
- Population
- Table: Insurance Sector Key Drivers - Demographics, 2008-2015
Non-Life Sector
- Asia Pacific Non-Life Sector Overview
- Table: Asia Pacific Non-life Premiums, 2008-2015
- Hong Kong Non-Life Sector Update
- Table: Non-Life Lines Overview, 9M10
- Non-Life Industry Forecast Scenario
- Table: Non-Life Premiums, 2008-2015
- Macroeconomic Outlook
- Table: Hong Kong Economic Activity, 2008-2015
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare
- Healthcare Insurance
- Epidemiology
- Tourism
- Table: Insurance Sector Key Drivers - Tourism 2008-2015
Insurance Risk/Reward Ratings
- Table: Hong Kong's Insurance Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Competitive Landscape
- Competitive Landscape Analysis
- Table: Non-Life Companies' Performance, 2009 (HKDmn)
- Table: New Life Business, 9M10 (HKDmn)
- Table: In-Force Life Premiums, 9M10 (HKDmn)
- Ageas
- AEGON
- AIA Group Limited
- Allianz
- Aviva
- AXA
- BNP Paribas Cardif
- Chartis
- HDI-Gerling
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife ALICO
- Prudential Financial
- Prudential plc
- QBE
- RSA
- Sun Life Financial
- The Principal
- Zurich Financial Services
BMI Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.