Hong Kong Insurance

Both long-term and general business recorded YoY growths.

Overall pricing remains competitive as new businesses emerge. 

On a year-on-year basis, it climbed 12.2%.

Rising consumer prices can affect the industry’s profitability in the short-term.

The company’s financial performance was mixed in 2023.

33 companies have joined HKFI’s inaugural climate charter.

The finance secretary also promises to transform into a global hub for supply chain management, thus ensuring coverage by an export credit insurance corporation.

The Hong Kong insurer has issued policies worth at least US$50m over the past year.

The report outlined the authority’s initiatives in the past year, including passing the Insurance (Amendment) Bill 2023.

They are followed by mature working adults, with the youth as the least literate.

Growth was heavily impacted by underperformance of several countries.

Total premiums written and policy fees over the period stood at $157b.