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Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2017

Published By :

Timetric

Published Date : Nov 2013

Category :

Health Insurance

No. of Pages : 242 Pages


Synopsis

The report provides in depth market analysis, information and insights into Hong Kong\'s personal accident and health insurance segment, including:

  • Hong Kong\'s personal accident and health insurance segment’s growth prospects by insurance categories
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in Hong Kong\'s personal accident and health insurance segment
  • Detailed competitive landscape in the personal accident and health insurance segment in Hong Kong
  • Detailed regulatory framework of Hong Kong\'s insurance industry
  • A description of the personal accident and health reinsurance segment in Hong Kong
  • Porter\'s Five Forces Analysis of the personal accident and health insurance segment
  • Benchmarking section on Hong Kong\'s personal accident and health insurance segment in comparison to other countries in the South-East Asian region

Executive summary

The Hong Kong personal accident and health insurance segment recorded growth during the review period, with the segment’s written premium value increasing at a CAGR of 6.9%. This growth was driven by an increase in healthcare expenditure, a rise in the volume of outbound tourists, favorable government initiatives and growing consumer awareness of the benefits of insurance products. Furthermore, Hong Kong’s positive economic outlook is expected to drive the growth of the segment over the forecast period. 

According to the IMF, Hong Kong’s GDP at current price is expected to increase at a CAGR of 8.1% over the forecast period, to reach a projected value of HKD3.0 trillion (US$387.2 billion) in 2017. This growth is expected to result in an increase in average income levels and, consequently, improved demand for personal accident and health insurance products. Specifically, the number of personal accident and health insurance policies sold in the country is expected to increase from 4.2 million in 2012 to 5.2 million in 2017, at a projected forecast-period CAGR of 4.5%.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Hong Kong:

  • It provides historical values for Hong Kong\'s personal accident and health insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
  • It offers a detailed analysis of the key sub-segments in Hong Kong\'s personal accident and health insurance segment, along with market forecasts until 2017
  • It covers an exhaustive list of parameters including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
  • It analyses the various distribution channels for personal accident and health insurance products in Hong Kong
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Hong Kong for the personal accident and health insurance segment
  • It provides a detailed analysis of the reinsurance segment in Hong Kong and its growth prospects
  • It profiles the top personal accident and health insurance companies in Hong Kong and outlines the key regulations affecting them

Reasons to buy

  • Make strategic business decisions using in depth historic and forecast market data related to Hong Kong\'s personal accident and health insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within Hong Kong\'s personal accident and health insurance segment
  • Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing Hong Kong\'s insurance segment and its impact on companies and the market\'s future

Key highlights

  • Health insurance was the largest category in the segment during the review period, representative of a 77.6% share of the total written premiums in 2012
  • This growth of the personal accident and health insurance segment was driven by an increase in healthcare expenditure, a rise in the volume of outbound tourists, favorable government initiatives and growing consumer awareness of the benefits of insurance products
  • Direct marketing was the most popular distribution channel in the personal accident and health segment, and accounted for 29.1% of the segment’s written premiums in 2012, up from 23.8% in 2008
  • The personal accident and health segment is highly competitive and concentrated, with the top 10 companies accounting for a combined segment share of 76.9% in 2011
Table of contents

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Regional Market Dynamics
3.1 Overview
3.2 Market Trends
3.3 Market Size

4 Personal Accident and Health Insurance Segment–Regional Benchmarking
4.1 Scale and Penetration
4.1.1 Total segment gross written premium
4.1.2 Premium per capita
4.1.3 Personal accident and health insurance penetration as a percentage of GDP
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP

5 Hong Kong Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008–2017
5.2 Key Industry Trends and Drivers

6 Personal Accident and Health Insurance Segment Outlook
6.1 Personal Accident and Health Insurance Growth Prospects by Category
6.1.1 Personal accident insurance
6.1.2 Travel insurance
6.1.3 Health insurance
6.1.4 Non-life health insurance
6.1.5 Life health insurance

7 Analysis by Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-commerce
7.5 Brokers
7.6 Other channels

8 Porter’s Five Forces Analysis – Hong Kong Personal Accident and Health Insurance
8.1 Bargaining Power of Suppliers: Medium
8.2 Bargaining Power of Buyers: Medium
8.3 Barriers to Entry: Medium to High
8.4 Intensity of Rivalry: High
8.5 Threat of Substitutes: Low

9 Reinsurance Growth Dynamics and Challenges
9.1 Reinsurance Segment Size, 2008–2017
9.2 Reinsurance Segment Size by Type of Insurance, 2008–2017

10 Governance, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation Trends by Type of Insurance
10.2.1 Life insurance regulatory trends
10.2.2 Motor insurance regulatory trends
10.2.3 Marine insurance regulatory trends
10.2.4 Health insurance regulatory trends
10.3 Compulsory Insurance
10.3.1 Employee compensation
10.3.2 Motor third-party liability insurance
10.3.3 Building owners’ corporations third-party liability insurance
10.4 Supervision and Control
10.4.1 International Association of Insurance Supervisors (IAIS)
10.4.2 The Office of the Commissioner of Insurance (OCI)
10.4.3 The Hong Kong Federation of Insurers (HKFI)
10.5 Non-Admitted Insurance Regulatory Trends
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market practices
10.5.4 Fines and penalties
10.6 Company Registration and Operations
10.6.1 Types of insurance organization
10.6.2 Establishing a local company
10.6.3 Foreign ownership
10.6.4 Types of license
10.6.5 Capital requirements
10.6.6 Solvency margins
10.6.7 Reserve requirements
10.6.8 Statutory return requirements
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Corporate tax
10.7.3 VAT
10.7.4 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to court
10.8.3 Alternative dispute resolution (ADR)

11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Personal accident and health segment
11.3 Comparison of the Top Five Insurers
11.3.1 Gross written premium
11.3.2 Gross claims
11.3.3 Paid claims
11.3.4 Loss ratio
11.4 Bupa (Asia) Ltd – Company Overview
11.4.1 Bupa (Asia) Ltd – Key facts
11.4.2 Bupa (Asia) Ltd – Key financials
11.5 HSBC Insurance (Asia) Ltd – Company Overview
11.5.1 HSBC Insurance (Asia) Ltd – key facts
11.5.2 HSBC Insurance (Asia) Ltd – key financials
11.6 American International Assurance Company (Bermuda) Ltd – Company Overview
11.6.1 American International Assurance Company (Bermuda) Ltd – key facts
11.6.2 American International Assurance Company (Bermuda) Ltd – key financials
11.7 Axa General Insurance Hong Kong Ltd – Company Overview
11.7.1 Axa General Insurance Hong Kong Ltd – key facts
11.7.2 Axa General Insurance Hong Kong Ltd – key financials
11.8 Blue Cross (Asia-Pacific) Insurance Ltd – Company Overview
11.8.1 Blue Cross (Asia-Pacific) Insurance Ltd – Key facts
11.8.2 Blue Cross (Asia-Pacific) Insurance Ltd – Key financials
11.9 AIG Insurance Hong Kong Ltd – Company Overview
11.9.1 AIG Insurance Hong Kong Ltd – key facts
11.9.2 AIG Insurance Hong Kong Ltd – key financials
11.1 Bank of China Group Insurance Company Ltd – Company Overview
11.10.1 Bank of China Group Insurance Company Ltd – key facts
11.10.2 Bank of China Group Insurance Company Ltd – key financials
11.11 Prudential Corporation Asia Ltd – Company Overview
11.11.1 Prudential Corporation Asia Ltd – key facts
11.11.2 Prudential Corporation Asia Ltd – key financials
11.12 Liberty International Insurance Ltd – Company Overview
11.12.1 Liberty International Insurance Ltd – Key facts
11.12.2 Liberty International Insurance Ltd – Key financials
11.13 Groupama-Gan Assurances – Company Overview
11.13.1 Groupama-Gan Assurances – Key facts
11.13.2 Groupama-Gan Assurances – Key financials

12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend – Hong Kong Exchanges and Clearing Ltd, Hong Kong
12.2 Economic Performance
12.2.1 Net foreign direct investment
12.2.2 GDP at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 Agriculture, hunting, forestry and fishing net output at current prices (US$)
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
12.2.7 Manufacturing net output at current prices (US$)
12.2.8 Manufacturing net output at current prices as a percentage of GDP
12.2.9 Mining, manufacturing and utilities at current prices (US$)
12.2.10 Mining, manufacturing and utilities at current prices, as percentage of GDP
12.2.11 Construction net output at current prices, (US$)
12.2.12 Construction net output at current prices as a percentage of GDP
12.2.13 Inflation rate
12.2.14 Current account balance as a percentage of GDP
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Exports growth
12.2.18 Imports growth
12.2.19 Annual average exchange rate US$–HKD
12.2.20 International tourists receipts
12.3 Infrastructure Quality and Availability
12.3.1 Commercial vehicles imports total value
12.3.2 Commercial vehicles exports total value
12.3.3 Automotive exports total value
12.3.4 Automotive imports total value
12.3.5 Life expectancy
12.3.6 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Household consumption expenditure (US$)
12.5.2 Gross national disposable income
12.5.3 Female percentage of the population
12.5.4 Male percentage of the population
12.5.5 Median age of the population
12.5.6 Age distribution of the total population
12.5.7 Number of households

13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric’s Services
13.5 Disclaimer

List of Table


Table 1: Insurance Industry Definitions
Table 2: Southeast Asia – Life Expectancy, 2000 and 2012
Table 3: Hong Kong Insurance – Overall Written Premium by Segment (HKD Billion), 2008–2012
Table 4: Hong Kong Insurance – Overall Written Premium by Segment (US$ Billion), 2008–2012
Table 5: Hong Kong Insurance – Overall Written Premium by Segment (HKD Billion), 2012–2017
Table 6: Hong Kong Insurance – Overall Written Premium by Segment (US$ Billion), 2012–2017
Table 7: Hong Kong Insurance – Segmentation (% Share), 2008–2017
Table 8: Hong Kong Personal Accident and Health Insurance – Written Premium by Category (HKD Billion), 2008–2012
Table 9: Hong Kong Personal Accident and Health Insurance – Written Premium by Category (US$ Billion), 2008–2012
Table 10: Hong Kong Personal Accident and Health Insurance – Written Premium by Category (HKD Billion), 2012–2017
Table 11: Hong Kong Personal Accident and Health Insurance – Written Premium by Category (US$ Billion), 2012–2017
Table 12: Hong Kong Personal Accident and Health Insurance – Earned Premium (HKD Billion), 2008–2012
Table 13: Hong Kong Personal Accident and Health Insurance – Earned Premium (HKD Billion), 2012–2017
Table 14: Hong Kong Personal Accident and Health Insurance – Paid Claims by Category (HKD Billion), 2008–2012
Table 15: Hong Kong Personal Accident and Health Insurance – Paid Claims by Category (US$ Billion), 2008–2012
Table 16: Hong Kong Personal Accident and Health Insurance – Paid Claims by Category (HKD Billion), 2012–2017
Table 17: Hong Kong Personal Accident and Health Insurance – Paid Claims by Category (US$ Billion), 2012–2017
Table 18: Hong Kong Personal Accident and Health Insurance – Incurred Loss by Category (HKD Billion), 2008–2012
Table 19: Hong Kong Personal Accident and Health Insurance – Incurred Loss by Category (US$ Billion), 2008–2012
Table 20: Hong Kong Personal Accident and Health Insurance – Incurred Loss by Category (HKD Billion), 2012–2017
Table 21: Hong Kong Personal Accident and Health Insurance – Incurred Loss by Category (US$ Billion), 2012–2017
Table 22: Hong Kong Personal Accident and Health Insurance – Loss Ratio (%), 2008–2012
Table 23: Hong Kong Personal Accident and Health Insurance – Loss Ratio (%), 2012–2017
Table 24: Hong Kong Personal Accident and Health Insurance – Commission and Expenses (HKD Billion), 2008–2012
Table 25: Hong Kong Personal Accident and Health Insurance – Commission and Expenses (HKD Billion), 2012–2017
Table 26: Hong Kong Personal Accident and Health Insurance – Combined Ratio (%), 2008–2012
Table 27: Hong Kong Personal Accident and Health Insurance – Combined Ratio (%), 2012–2017
Table 28: Hong Kong Personal Accident and Health Insurance – Frauds and Crimes (HKD Billion), 2008–2012
Table 29: Hong Kong Personal Accident and Health Insurance – Frauds and Crimes (HKD Billion), 2012–2017
Table 30: Hong Kong Personal Accident and Health Insurance – Total Assets (HKD Billion), 2008–2012
Table 31: Hong Kong Personal Accident and Health Insurance – Total Assets (HKD Billion), 2012–2017
Table 32: Hong Kong Personal Accident and Health Insurance – Total Investment Income (HKD Billion), 2008–2012
Table 33: Hong Kong Personal Accident and Health Insurance – Total Investment Income (HKD Billion), 2012–2017
Table 34: Hong Kong Personal Accident and Health Insurance – Retentions (HKD Billion), 2008–2012
Table 35: Hong Kong Personal Accident and Health Insurance – Retentions (HKD Billion), 2012–2017
Table 36: Hong Kong Personal Accident Insurance – Number of Policies Sold (Thousand), 2008–2012
Table 37: Hong Kong Personal Accident Insurance – Number of Policies Sold (Thousand), 2012–2017
Table 38: Hong Kong Personal Accident Insurance – Written Premium (HKD Billion), 2008–2012
Table 39: Hong Kong Personal Accident Insurance – Written Premium (HKD Billion), 2012–2017
Table 40: Hong Kong Personal Accident Insurance – Loss Ratio (%), 2008–2012
Table 41: Hong Kong Personal Accident Insurance – Loss Ratio (%), 2012–2017
Table 42: Hong Kong Travel Insurance – Number of Policies Sold (Thousand), 2008–2012
Table 43: Hong Kong Travel Insurance – Number of Policies Sold (Thousand), 2012–2017
Table 44: Hong Kong Travel Insurance – Written Premium (HKD Billion), 2008–2012
Table 45: Hong Kong Travel Insurance – Written Premium (HKD Billion), 2012–2017
Table 46: Hong Kong Travel Insurance – Loss Ratio (%), 2008–2012
Table 47: Hong Kong Travel Insurance – Loss Ratio (%), 2012–2017
Table 48: Hong Kong Health Insurance – Written Premium by Sub-Category (HKD Billion), 2008–2012
Table 49: Hong Kong Health Insurance – Written Premium by Sub-Category (US$ Billion), 2008–2012
Table 50: Hong Kong Health Insurance – Written Premium by Sub-Category (HKD Billion), 2012–2017
Table 51: Hong Kong Health Insurance – Written Premium by Sub-Category (US$ Billion), 2012–2017
Table 52: Hong Kong Non-Life Health Insurance – Number of Policies Sold (Thousand), 2008–2012
Table 53: Hong Kong Non-Life Health Insurance – Number of Policies Sold (Thousand), 2012–2017
Table 54: Hong Kong Non-Life Health Insurance – Written Premium (HKD Billion), 2008–2012
Table 55: Hong Kong Non-Life Health Insurance – Written Premium (HKD Billion), 2012–2017
Table 56: Hong Kong Non-Life Health Insurance – Loss Ratio (%), 2008–2012
Table 57: Hong Kong Non-Life Health Insurance – Loss Ratio (%), 2012–2017
Table 58: Hong Kong Life Health Insurance – Number of Policies Sold (Thousand), 2008–2012
Table 59: Hong Kong Life Health Insurance – Number of Policies Sold (Thousand), 2012–2017
Table 60: Hong Kong Life Health Insurance – Written Premium (HKD Billion), 2008–2012
Table 61: Hong Kong Life Health Insurance – Written Premium (HKD Billion), 2012–2017
Table 62: Hong Kong Life Health Insurance – Loss Ratio (%), 2008–2012
Table 63: Hong Kong Life Health Insurance – Loss Ratio (%), 2012–2017
Table 64: Hong Kong Personal Accident and Health Insurance – Direct Marketing Commission Paid (HKD Billion), 2008–2012
Table 65: Hong Kong Personal Accident and Health Insurance – Direct Marketing Commission Paid (HKD Billion), 2012–2017
Table 66: Hong Kong Personal Accident and Health Insurance – Written Premium Through Direct Marketing (HKD Billion), 2008–2012
Table 67: Hong Kong Personal Accident and Health Insurance – Written Premium Through Direct Marketing (HKD Billion), 2012–2017
Table 68: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2008–2012
Table 69: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2012–2017
Table 70: Hong Kong Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2008–2012
Table 71: Hong Kong Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2012–2017
Table 72: Hong Kong Personal Accident and Health Insurance – Bancassurance Commission Paid (HKD Billion), 2008–2012
Table 73: Hong Kong Personal Accident and Health Insurance – Bancassurance Commission Paid (HKD Billion), 2012–2017
Table 74: Hong Kong Personal Accident and Health Insurance – Written Premium Through Bancassurance (HKD Billion), 2008–2012
Table 75: Hong Kong Personal Accident and Health Insurance – Written Premium Through Bancassurance (HKD Billion), 2012–2017
Table 76: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2008–2012
Table 77: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2012–2017
Table 78: Hong Kong Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2008–2012
Table 79: Hong Kong Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2012–2017
Table 80: Hong Kong Personal Accident and Health Insurance – Commission Paid to Agencies (HKD Billion), 2008–2012
Table 81: Hong Kong Personal Accident and Health Insurance – Commission Paid to Agencies (HKD Billion), 2012–2017
Table 82: Hong Kong Personal Accident and Health Insurance – Written Premium Through Agencies (HKD Billion), 2008–2012
Table 83: Hong Kong Personal Accident and Health Insurance – Written Premium Through Agencies (HKD Billion), 2012–2017
Table 84: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2008–2012
Table 85: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2012–2017
Table 86: Hong Kong Personal Accident and Health Insurance – Number of Agencies, 2008–2012
Table 87: Hong Kong Personal Accident and Health Insurance – Number of Agencies, 2012–2017
Table 88: Hong Kong Personal Accident and Health Insurance – E-Commerce Commission Paid (HKD Billion), 2008–2012
Table 89: Hong Kong Personal Accident and Health Insurance – E-Commerce Commission Paid (HKD Billion), 2012–2017
Table 90: Hong Kong Personal Accident and Health Insurance – Written Premium Through E-Commerce (HKD Billion), 2008–2012
Table 91: Hong Kong Personal Accident and Health Insurance – Written Premium Through E-Commerce (HKD Billion), 2012–2017
Table 92: Hong Kong Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2008–2012
Table 93: Hong Kong Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2012–2017
Table 94: Hong Kong Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2008–2012
Table 95: Hong Kong Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2012–2017
Table 96: Hong Kong Personal Accident and Health Insurance – Commission Paid to Brokers (HKD Billion), 2008–2012
Table 97: Hong Kong Personal Accident and Health Insurance – Commission Paid to Brokers (HKD Billion), 2012–2017
Table 98: Hong Kong Personal Accident and Health Insurance – Written Premium Through Brokers (HKD Billion), 2008–2012
Table 99: Hong Kong Personal Accident and Health Insurance – Written Premium Through Brokers (HKD Billion), 2012–2017
Table 100: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2008–2012
Table 101: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2012–2017
Table 102: Hong Kong Personal Accident and Health Insurance – Number of Brokers, 2008–2012
Table 103: Hong Kong Personal Accident and Health Insurance – Number of Brokers, 2012–2017
Table 104: Hong Kong Personal Accident and Health Insurance – Commission Paid to Other Channels (HKD Billion), 2008–2012
Table 105: Hong Kong Personal Accident and Health Insurance – Commission Paid to Other Channels (HKD Billion), 2012–2017
Table 106: Hong Kong Personal Accident and Health Insurance – Written Premium Through Other Channels (HKD Billion), 2008–2012
Table 107: Hong Kong Personal Accident and Health Insurance – Written Premium Through Other Channels (HKD Billion), 2012–2017
Table 108: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2008–2012
Table 109: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2012–2017
Table 110: Hong Kong Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2008–2012
Table 111: Hong Kong Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2012–2017
Table 112: Reinsurance in Hong Kong by Category (HKD Billion), 2008–2012
Table 113: Reinsurance in Hong Kong by Category (US$ Billion), 2008–2012
Table 114: Reinsurance in Hong Kong by Category (HKD Billion), 2012–2017
Table 115: Reinsurance in Hong Kong by Category (US$ Billion), 2012–2017
Table 116: Hong Kong Premium Ceded to Reinsurance by Type of Insurance (HKD Billion), 2008–2012
Table 117: Hong Kong Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008–2012
Table 118: Hong Kong Premium Ceded to Reinsurance by Type of Insurance (HKD Billion), 2012–2017
Table 119: Hong Kong Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012–2017
Table 120: Hong Kong Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 121: Hong Kong Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 122: Hong Kong – Corporation Tax Rates for the Financial Year 2013
Table 123: Shares of Key Insurers in the Hong Kong Life Insurance Segment (%), 2011
Table 124: Bupa (Asia) Ltd, Key Facts
Table 125: Bupa (Asia) Ltd, Key Financials (HKD Million)
Table 126: HSBC Insurance (Asia) Ltd, Key Facts
Table 127: HSBC Insurance (Asia) Ltd, Key Financials (HKD Million)
Table 128: American International Assurance Company (Bermuda) Ltd, Key Facts
Table 129: American International Assurance Company (Bermuda) Ltd, Key Financials (HKD Million)
Table 130: Axa General Insurance Hong Kong Ltd, Key Facts
Table 131: American International Assurance Company (Bermuda) Ltd, Key Financials (HKD Million)
Table 132: Blue Cross (Asia-Pacific) Insurance Ltd, Key Facts
Table 133: Blue Cross (Asia-Pacific) Insurance Ltd, Key Financials (HKD Million)
Table 134: AIG Insurance Hong Kong Ltd, Key Facts
Table 135: AIG Insurance Hong Kong Ltd, Key Financials (HKD Million)
Table 136: Bank of China Group Insurance Company Ltd, Key Facts
Table 137: Bank of China Group Insurance Company Ltd, Key Financials (HKD Million)
Table 138: Prudential Corporation Asia Ltd, Key Facts
Table 139: Prudential Corporation Asia Ltd, Key Financials (HKD Million)
Table 140: Liberty International Insurance Ltd, Key Facts
Table 141: Liberty International Insurance Ltd, Key Financials (HKD Million)
Table 142: Groupama-Gan Assurances, Key Facts
Table 143: Groupama-Gan Assurances, Key Financials (HKD Million)

List of Chart


Figure 1: Southeast Asia – Economies and Populations, 2011
Figure 2: Southeast Asia – Growth Trends in the Insurance Industry
Figure 3: Southeast Asian Region – Total Insurance Industry by Insurance Segment (US$ Billion), 2011
Figure 4: Southeast Asian Comparison – Personal Accident and Health Insurance Segment Gross Written Premium (US$ Billion), 2011
Figure 5: Southeast Asian Comparison – Personal Accident and Health Insurance Premium per Capita (US$), 2011
Figure 6: Southeast Asian Comparison – Personal Accident and Health Insurance Penetration (% of GDP), 2011 and 2016
Figure 7: Southeast Asian Comparison – Personal Accident and Health Insurance Gross Written Premium Growth (%), 2007–2016
Figure 8: Southeast Asian Comparison – Personal Accident and Health Insurance Gross Written Premium per Capita Growth (%), 2007–2016
Figure 9: Southeast Asian Comparison – Personal Accident and Health Insurance Loss Ratio (%), 2011 and 2016
Figure 10: Southeast Asian Comparison – Personal Accident and Health Insurance Combined Ratio (%), 2011 and 2016
Figure 11: Southeast Asian Comparison – Personal Accident and Health Insurance Incurred Losses per Capita (US$), 2011 and 2016
Figure 12: Southeast Asian Comparison – Personal Accident and Health Insurance Incurred Losses as a Percentage of GDP (%), 2011 and 2016
Figure 13: Hong Kong Insurance – Overall Written Premium by Segment (HKD Billion), 2008–2017
Figure 14: Hong Kong’s Insurance – Dynamics by Segment (%), 2008–2017
Figure 15: Hong Kong Personal Accident and Health Insurance – Written Premium by Category (HKD Billion), 2008–2017
Figure 16: Hong Kong Personal Accident and Health Insurance – Written Premium by Category (Percentage Share), 2012 and 2017
Figure 17: Hong Kong Personal Accident and Health Insurance – Dynamics by Category, 2008–2017
Figure 18: Hong Kong Personal Accident and Health Insurance – Earned Premium (HKD Billion), 2008–2012
Figure 19: Hong Kong Personal Accident and Health Insurance – Earned Premium (HKD Billion), 2012–2017
Figure 20: Hong Kong Personal Accident and Health Insurance – Paid Claims by Category (HKD Billion), 2008–2017
Figure 21: Hong Kong Personal Accident and Health Insurance – Incurred Loss by Category (HKD Billion), 2008–2017
Figure 22: Hong Kong Personal Accident and Health Insurance – Loss Ratio (%), 2008–2012
Figure 23: Hong Kong Personal Accident and Health Insurance – Loss Ratio (%), 2012–2017
Figure 24: Hong Kong Personal Accident and Health Insurance – Commission and Expenses (HKD Billion), 2008–2012
Figure 25: Hong Kong Personal Accident and Health Insurance – Commission and Expenses (HKD Billion), 2012–2017
Figure 26: Hong Kong Personal Accident and Health Insurance – Combined Ratio (%), 2008–2012
Figure 27: Hong Kong Personal Accident and Health Insurance – Combined Ratio (%), 2012–2017
Figure 28: Hong Kong Personal Accident and Health Insurance – Frauds and Crimes (HKD Billion), 2008–2012
Figure 29: Hong Kong Personal Accident and Health Insurance – Frauds and Crimes (HKD Billion), 2012–2017
Figure 30: Hong Kong Personal Accident and Health Insurance – Total Assets (HKD Billion), 2008–2012
Figure 31: Hong Kong Personal Accident and Health Insurance – Total Assets (HKD Billion), 2012–2017
Figure 32: Hong Kong Personal Accident and Health Insurance – Total Investment Income (HKD Billion), 2008–2012
Figure 33: Hong Kong Personal Accident and Health Insurance – Total Investment Income (HKD Billion), 2012–2017
Figure 34: Hong Kong Personal Accident and Health Insurance – Retentions (HKD Billion), 2008–2012
Figure 35: Hong Kong Personal Accident and Health Insurance – Retentions (HKD Billion), 2012–2017
Figure 36: Hong Kong Personal Accident and Health Insurance – Investment Portfolio (HKD Billion), 2008–2012
Figure 37: Hong Kong Personal Accident and Health Insurance – Investment Portfolio (Percentage Share), 2008 and 2012
Figure 38: Hong Kong Personal Accident and Health Insurance Penetration (Percentage of GDP), 2008–2012
Figure 39: Hong Kong Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2008–2012
Figure 40: Hong Kong Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2012–2017
Figure 41: Hong Kong Personal Accident and Health Insurance – Premium Per Capita (HKD), 2008–2012
Figure 42: Hong Kong Personal Accident Insurance – Number of Policies Sold (Thousand), 2008–2012
Figure 43: Hong Kong Personal Accident Insurance – Number of Policies Sold (Thousand), 2012–2017
Figure 44: Hong Kong Personal Accident Insurance – Written Premium (HKD Billion), 2008–2012
Figure 45: Hong Kong Personal Accident Insurance – Written Premium (HKD Billion), 2012–2017
Figure 46: Hong Kong Personal Accident Insurance – Loss Ratio (%), 2008–2012
Figure 47: Hong Kong Personal Accident Insurance – Loss Ratio (%), 2012–2017
Figure 48: Hong Kong Travel Insurance – Number of Policies Sold (Thousand), 2008–2012
Figure 49: Hong Kong Travel Insurance – Number of Policies Sold (Thousand), 2012–2017
Figure 50: Hong Kong Travel Insurance – Written Premium (HKD Billion), 2008–2012
Figure 51: Hong Kong Travel Insurance – Written Premium (HKD Billion), 2012–2017
Figure 52: Hong Kong Travel Insurance – Loss Ratio (%), 2008–2012
Figure 53: Hong Kong Travel Insurance – Loss Ratio (%), 2012–2017
Figure 54: Hong Kong Health Insurance – Written Premium by Sub-Category (HKD Billion), 2008–2017
Figure 55: Hong Kong Health Insurance – Dynamics by Sub-Category, 2008–2017
Figure 56: Hong Kong Non-Life Health Insurance – Number of Policies Sold (Thousand), 2008–2012
Figure 57: Hong Kong Non-Life Health Insurance – Number of Policies Sold (Thousand), 2012–2017
Figure 58: Hong Kong Non-Life Health Insurance – Written Premium (HKD Billion), 2008–2012
Figure 59: Hong Kong Non-Life Health Insurance – Written Premium (HKD Billion), 2012–2017
Figure 60: Hong Kong Non-Life Health Insurance – Loss Ratio (%), 2008–2012
Figure 61: Hong Kong Non-Life Health Insurance – Loss Ratio (%), 2012–2017
Figure 62: Hong Kong Life Health Insurance – Number of Policies Sold (Thousand), 2008–2012
Figure 63: Hong Kong Life Health Insurance – Number of Policies Sold (Thousand), 2012–2017
Figure 64: Hong Kong Life Health Insurance – Written Premium (HKD Billion), 2008–2012
Figure 65: Hong Kong Life Health Insurance – Written Premium (HKD Billion), 2012–2017
Figure 66: Hong Kong Life Health Insurance – Loss Ratio (%), 2008–2012
Figure 67: Hong Kong Life Health Insurance – Loss Ratio (%), 2012–2017
Figure 68: Hong Kong Personal Accident and Health Insurance – Written Premium by Distribution Channel (Percentage Share), 2012 and 2017
Figure 69: Hong Kong Personal Accident and Health Insurance – Direct Marketing Commission Paid (HKD Billion), 2008–2012
Figure 70: Hong Kong Personal Accident and Health Insurance – Direct Marketing Commission Paid (HKD Billion), 2012–2017
Figure 71: Hong Kong Personal Accident and Health Insurance – Written Premium Through Direct Marketing (HKD Billion), 2008–2012
Figure 72: Hong Kong Personal Accident and Health Insurance – Written Premium Through Direct Marketing (HKD Billion), 2012–2017
Figure 73: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2008–2012
Figure 74: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2012–2017
Figure 75: Hong Kong Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2008–2012
Figure 76: Hong Kong Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2012–2017
Figure 77: Hong Kong Personal Accident and Health Insurance – Bancassurance Commission Paid (HKD Billion), 2008–2012
Figure 78: Hong Kong Personal Accident and Health Insurance – Bancassurance Commission Paid (HKD Billion), 2012–2017
Figure 79: Hong Kong Personal Accident and Health Insurance – Written Premium Through Bancassurance (HKD Billion), 2008–2012
Figure 80: Hong Kong Personal Accident and Health Insurance – Written Premium Through Bancassurance (HKD Billion), 2012–2017
Figure 81: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2008–2012
Figure 82: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2012–2017
Figure 83: Hong Kong Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2008–2012
Figure 84: Hong Kong Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2012–2017
Figure 85: Hong Kong Personal Accident and Health Insurance – Commission Paid to Agencies (HKD Billion), 2008–2012
Figure 86: Hong Kong Personal Accident and Health Insurance – Commission Paid to Agencies (HKD Billion), 2012–2017
Figure 87: Hong Kong Personal Accident and Health Insurance – Written Premium Through Agencies (HKD Billion), 2008–2012
Figure 88: Hong Kong Personal Accident and Health Insurance – Written Premium Through Agencies (HKD Billion), 2012–2017
Figure 89: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2008–2012
Figure 90: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2012–2017
Figure 91: Hong Kong Personal Accident and Health Insurance – Number of Agencies, 2008–2012
Figure 92: Hong Kong Personal Accident and Health Insurance – Number of Agencies, 2012–2017
Figure 93: Hong Kong Personal Accident and Health Insurance – E-Commerce Commission Paid (HKD Billion), 2008–2012
Figure 94: Hong Kong Personal Accident and Health Insurance – E-Commerce Commission Paid (HKD Billion), 2012–2017
Figure 95: Hong Kong Personal Accident and Health Insurance – Written Premium Through E-Commerce (HKD Billion), 2008–2012
Figure 96: Hong Kong Personal Accident and Health Insurance – Written Premium Through E-Commerce (HKD Billion), 2012–2017
Figure 97: Hong Kong Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2008–2012
Figure 98: Hong Kong Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2012–2017
Figure 99: Hong Kong Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2008–2012
Figure 100: Hong Kong Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2012–2017
Figure 101: Hong Kong Personal Accident and Health Insurance – Commission Paid to Brokers (HKD Billion), 2008–2012
Figure 102: Hong Kong Personal Accident and Health Insurance – Commission Paid to Brokers (HKD Billion), 2012–2017
Figure 103: Hong Kong Personal Accident and Health Insurance – Written Premium Through Brokers (HKD Billion), 2008–2012
Figure 104: Hong Kong Personal Accident and Health Insurance – Written Premium Through Brokers (HKD Billion), 2012–2017
Figure 105: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2008–2012
Figure 106: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2012–2017
Figure 107: Hong Kong Personal Accident and Health Insurance – Number of Brokers, 2008–2012
Figure 108: Hong Kong Personal Accident and Health Insurance – Number of Brokers, 2012–2017
Figure 109: Hong Kong Personal Accident and Health Insurance – Commission Paid to Other Channels (HKD Billion), 2008–2012
Figure 110: Hong Kong Personal Accident and Health Insurance – Commission Paid to Other Channels (HKD Billion), 2012–2017
Figure 111: Hong Kong Personal Accident and Health Insurance – Written Premium Through Other Channels (HKD Billion), 2008–2012
Figure 112: Hong Kong Personal Accident and Health Insurance – Written Premium Through Other Channels (HKD Billion), 2012–2017
Figure 113: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2008–2012
Figure 114: Hong Kong Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2012–2017
Figure 115: Hong Kong Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2008–2012
Figure 116: Hong Kong Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2012–2017
Figure 117: Personal accident and health segment – Five Forces Analysis
Figure 118: Hong Kong Premium Ceded to Reinsurance by Category (HKD Billion), 2008–2017
Figure 119: Hong Kong’s Premium Ceded to Reinsurance by Category (% Share), 2012 and 2017
Figure 120: Hong Kong’s Reinsurance – Dynamics by Category (%), 2008–2017
Figure 121: Hong Kong’s Premium Ceded to Reinsurance by Type of Insurance (HKD Billion), 2008–2017
Figure 122: Hong Kong’s Reinsurance – Dynamics by Type of Insurance (%), 2008–2017
Figure 123: Hong Kong Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 124: Hong Kong Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 125: Hong Kong – Insurance Regulatory Framework
Figure 126: Hong Kong – Insurance Supervision and Control at Various Levels
Figure 127: Hong Kong – Insurance Regulatory Frameworks for Company Registration and Operation
Figure 128: Shares of Key Insurers in the Hong Kong Life Insurance Segment (%), 2011
Figure 129: Hong Kong – Top Five Personal Accident and Health Insurers Gross Written Premium (HKD Billion), 2011
Figure 130: Hong Kong – Top Five Personal Accident and Health Insurers Gross Claims (HKD Billion), 2011
Figure 131: Hong Kong – Top Five Personal Accident and Health Insurers Paid Claims (HKD Billion), 2011
Figure 132: Hong Kong – Top Five Personal Accident and Health Insurers Outwards Reinsurance Expense (HKD Billion), 2011
Figure 133: Hong Kong Stock Exchange Market Capitalization (US$ Billion), 2008–2012
Figure 134: Hong Kong Net Foreign Direct Investment (US$ Billion), 2007–2011
Figure 135: Hong Kong GDP at Constant Prices (US$ Billion), 2008–2012
Figure 136: Hong Kong GDP at Current Prices (US$ Billion), 2008–2012
Figure 137: Hong Kong GDP Per Capita at Current Prices (US$), 2008–2012
Figure 138: Hong Kong Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$ Million), 2007–2010
Figure 139: Hong Kong Agriculture, Hunting, Forestry and Fishing Net Output At Current Prices as a Percentage of GDP (%), 2007–2010
Figure 140: Hong Kong Manufacturing Net Output at Current Prices (US$ Billion), 2007–2010
Figure 141: Hong Kong Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2010
Figure 142: Hong Kong Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2010
Figure 143: Hong Kong Mining, Manufacturing and Utilities Net Output at Current Prices as a percentage of GDP (%), 2007–2010
Figure 144: Hong Kong Construction Net Output at Current Prices (US$ Billion), 2007– 2010
Figure 145: Hong Kong Construction Output at Current Prices as a Percentage of GDP (%), 2007–2010
Figure 146: Hong Kong Inflation Rate (%), 2008–2012
Figure 147: Hong Kong Current Account Balance as a Percentage of GDP (%), 2007–2011
Figure 148: Hong Kong Exports as a Percentage of GDP (%), 2007–2011
Figure 149: Hong Kong Imports as a Percentage of GDP (%), 2007–2011
Figure 150: Hong Kong Exports Growth (%), 2008–2011
Figure 151: Hong Kong Imports Growth (%), 2008–2011
Figure 152: Hong Kong Annual Average Exchange Rate US$–HKD, 2008–2012
Figure 153: Hong Kong International Tourist Receipts (US$ Million), 2008–2012
Figure 154: Hong Kong Commercial Vehicles Exports Total Value (US$ Million), 2007–2010
Figure 155: Hong Kong Commercial Vehicles Exports Total Value (US$ Million), 2007–2010
Figure 156: Hong Kong Automotive Exports Total Value (US$ Million), 2007–2010
Figure 157: Hong Kong Automotive Imports Total Value (US$ Million), 2007–2010
Figure 158: Hong Kong Life Expectancy (Years), 2008–2012
Figure 159: Hong Kong Internet Subscriptions (Millions), 2007–2011
Figure 160: Hong Kong Size of Labor Force (Million), 2007–2011
Figure 161: Hong Kong Unemployment Rate (%), 2008–2012
Figure 162: Hong Kong Household Consumption Expenditure (US$ Billion), 2007–2011
Figure 163: Hong Kong Gross National Disposable Income (US$ Billion), 2007–2011
Figure 164: Female Percentage of the Hong Kong Population (%), 2008–2012
Figure 165: Male Percentage of the Hong Kong Population (%), 2008–2012
Figure 166: Median Age of the Hong Kong Population (Years), 2008–2012
Figure 167: Hong Kong Population Distribution by Age (%), 2008–2012
Figure 168: Number of Households in Hong Kong (Million), 2008–2012

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