The Hong Kong Insurance Authority published provisional market statistics for the first quarter of 2025, reporting total gross premiums of HKD 220.3 billion across long term and general business. Long term business recorded new office premiums (excluding Retirement Scheme business) of HKD 93.4 billion, up 43.1% year on year, largely from non-linked individual business of HKD 90.1 billion, including HKD 81.7 billion in participating business. Linked individual business contributed HKD 3.2 billion, up 74.8%. Revenue premiums for in-force business totalled HKD 189.1 billion, up 31.1%, while total claims and benefits paid were HKD 94.3 billion, down 7.4%, including lapsation and surrender benefits of HKD 51.2 billion. In general business, total gross and net premiums were HKD 31.2 billion and HKD 20.6 billion, with gross claims of HKD 12.2 billion and operating profit of HKD 2.7 billion, including HKD 0.9 billion of underwriting profit. Separate statistics on Mainland visitors will not be published while the authority conducts a comprehensive review of the scope and criteria for data collection on non-local policy holders. The release also notes that, following implementation of the risk-based capital regime on 1 July 2024, comparisons of general insurance outturns with figures published before that date are not considered appropriate.

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