CreditSights says Hong Kong life insurers sustain strong growth

These insurers reported strong first-half 2025 results.

CreditSights said Hong Kong’s life insurers – AIA, Prudential, and FWD – are prioritising health, digital, and high-net-worth segments to sustain momentum.

These insurers reported strong first-half 2025 results, driven by steady demand from local and mainland Chinese customers.

Capital positions remain solid. FWD’s LCSM ratio rose 23 points to 283%, AIA’s GWS coverage ratio was 254%, and Prudential’s stood at 200% with a $21.9b surplus. All three saw higher Contractual Service Margin balances.

Product focus is shifting toward protection and participating policies.

AIA generated 80% of its value of new business from these products, Prudential’s health and protection line made up a third of group new business profit, and FWD exited Thailand’s lower-margin corporate care segment.

AIA targets 9% to 11% annual growth in operating profit per share through 2026, Prudential expects 15% to 20% new business profit growth through 2027, and FWD forecasts mid-teens OPAT growth.