HSBC Life records 19.5% share in industry premiums for 9M 2024

The CEO attributed the growth to its HNW business.

HSBC Life secured 19.5% of the market share in new business premiums and 19.4% in annualised new premiums in the nine months to September period in 2024.

The Hong Kong-based insurer said it has maintained its position as the top performer in Hong Kong's insurance sector for the third consecutive quarter, according to the preliminary data released by the Insurance Authority last Friday.

Daisy Tsang, CEO for Hong Kong and Macau at HSBC Life, reported that the company wrote over HK$33b in new business premiums during the period.

“This success is largely driven by the growth in our High-Net-Worth Business and the introduction of a multi-currency product earlier this year,” Tsang said in a media release.