Provisional figures from the Insurance Authority (IA) revealed that the country's gross insurance premiums increased 35.5% y-o-y to HK$ 573.6bn($73.2bn) in the first half of 2026, driven by long term business.
IA data shows that the total insurance gross premiums rose 35.5% y-o-y to HK$573.6bn in the first half of 2026. Long term business drove the increase, with revenue premiums rising 39.7% to HK$509.9bn. New office premiums, excluding retirement scheme business, increased 58.4% y-o-y to HK$275.2bn, whereas general insurance premiums grew 9.1% to HK$63.7bn, while underwriting profit rose 253.1% to HK$5.8bn, primarily supported by a turnaround in onshore pecuniary loss business.
The country’s long-term insurance business recorded HK$509.9bn in revenue premiums from in-force policies, up 39.7% y-o-y. As of 30 June 2026, total assets under long-term business stood at HK$5,831.5bn, whilst net assets amounted to HK$799.2bn.
Hong Kong's general insurance sector’s gross premiums increased 9.1% y-o-y to HK$63.7bn in the first half of 2026, whereas net premiums rose 5.7% y-o-y to HK$42.1bn, while gross claims paid increased 22.2% y-o-y to HK$31.3bn. The segment delivered a strong 48.1% year-on-year surge in overall operating profit to HK$9.6bn for the first half of 2026. This robust growth was driven primarily by an huge 253.1% y-o-y spike in underwriting profit to HK$5.8bn.
Direct insurance business recorded HK$31.7bn in gross premiums, up 3% y-o-y, while net premiums fell 0.7% y-o-y to HK$20.9bn. Gross claims paid rose 37.9% y-o-y to HK$19bn.
IA data further shows that reinsurance inward business recorded gross premiums of HK$32.1bn, up 15.8% y-o-y, and net premiums increased 12.9% y-o-y to HK$21.3bn, while gross claims paid rose 3.9% y-o-y to HK$12.3bn. Offshore property damage business generated HK$10.7bn in gross premiums, up 4% y-o-y, while offshore accident & health business premiums increased 56.7% y-o-y to HK$7.2bn. Underwriting profit from reinsurance inward business climbed 317.5% y-o-y to HK$1.1bn, mainly supported by offshore property damage business.
Direct onshore premiums in the general insurance sector grew by 2% y-o-y to HK$28.6bn, while direct offshore premiums experienced a 13.1% y-o-y increase, reaching HK$3bn. Meanwhile, reinsurance inward onshore premiums rose 2.4% y-o-y to HK$4.5bn, and offshore reinsurance premiums surged by 18.4% y-o-y to HK$27.5bn. As of June 30, 2026, the general insurance business held HK$358.5bn in total assets, with net assets accounted at HK$139.8bn.