Hong Kong life insurers’ revenue climbs 33.7% YoY in H1 2025

Total claims and benefits paid during the period stood at $25b.

Hong Kong saw its new office premiums (excluding Retirement Scheme business) of long term business (or life insurance) surge 50% year-on-year (YoY) to US$22.6b (HK$173.7b) in the first half of the year (H1 2025), data from the Insurance Authority showed.

This was mainly driven by Non-Linked individual business, which increased 49.7% YoY to US$21.7b (HK$166.6b).

Within this segment, participating policies made up US$19.5b (HK$149.9b), whilst other non-linked products contributed US$2.2b (HK$16.7b). Linked individual business also grew 60.8% YoY to US$0.9b (HK$6.9b).

Around 44,000 Qualifying Deferred Annuity Policies (QDAPs) were issued during the period, contributing US$0.36b (HK$2.8b), or about 1.6% YoY of total individual business premiums.

Total revenue premiums of in-force long-term business reached US$47.5b (HK$365b), marking a 33.7% YoY increase.

Non-linked individual business accounted for US$41.8b (HK$321.8b), up 32.1%, whilst linked individual business rose 18.6% YoY to US$1.7b (HK$12.7b). Retirement scheme business posted a sharp 76.4% YoY jump to US$3.5b (HK$26.7b).

Total claims and benefits paid during the period stood at US$25b (HK$191.9b), up 4.5% YoY from the same period in 2024.

(US$1.00 = HK$7.77)