Hong Kong insurance gross premiums rose 35.5% year over year to HK$573.6 billion in the first half of 2026, provisional figures from the Insurance Authority show. General insurance underwriting profit also more than tripled, even as claims paid increased.

Key Takeaways

  • New long-term insurance premiums, excluding Retirement Scheme business, rose 58.4% to HK$275.2 billion.
  • General insurance gross premiums increased 9.1% to HK$63.7 billion, while gross claims paid rose 22.2%.
  • A turnaround in onshore pecuniary loss insurance was associated with higher direct insurance underwriting profit.

Hong Kong insurance growth led by long-term business

The regulator released the provisional figures on October 23, 2026. All year-over-year changes compare the first six months of 2026 with the same period in 2025.

New office premiums for long-term insurance, excluding Retirement Scheme business, reached HK$275.2 billion. Non-linked individual policies accounted for HK$262.9 billion, up 57.8%, including HK$245.4 billion from participating business. New premiums from linked individual business rose 73.7% to HK$12 billion.

Revenue premiums from existing long-term policies rose 39.7% to HK$509.9 billion. Retirement Scheme revenue premiums moved in the opposite direction, falling 16.7% to HK$22.2 billion. Claims and benefits paid under long-term insurance declined 6.3% to HK$179.8 billion.

Insurers issued about 33,000 Qualifying Deferred Annuity Policies during the period, generating HK$2.1 billion in premiums. That represented 0.8% of total individual business premiums.

General insurance profit rises despite higher claims

General insurance net premiums rose 5.7% to HK$42.1 billion, while gross claims paid climbed 22.2% to HK$31.3 billion. Overall operating profit increased 48.1% to HK$9.6 billion, and underwriting profit rose 253.1% to HK$5.8 billion.

Direct insurance underwriting profit increased 241.3% to HK$4.7 billion. The regulator associated the increase mainly with onshore pecuniary loss insurance, including mortgage guarantee business, which moved from a HK$0.3 billion loss to a HK$3.1 billion profit.

Inward reinsurance gross premiums rose 15.8% to HK$32.1 billion. Its underwriting profit increased 317.5% to HK$1.1 billion, with offshore property damage insurance the principal contributor to the result.

Insurance assets at the end of June

As of June 30, 2026, assets associated with long-term insurance business totaled HK$5,831.5 billion, including net assets of HK$799.2 billion. General insurance business held HK$358.5 billion in total assets and HK$139.8 billion in net assets.

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