Hong Kong Insurance Authority reports first quarter gross premiums up 32.3% to HKD 291.6 billion

The Hong Kong Insurance Authority has released provisional statistics for the first quarter of 2026 showing total gross premiums of HKD 291.6 billion, up 32.3% year on year. Growth was led by long term business, where new office premiums excluding Retirement Scheme business rose 51.1% to HKD 141.1 billion and in-force revenue premiums increased 35.6% to HKD 256.4 billion. General business also expanded, with gross premiums rising 12.5% to HKD 35.2 billion. Within long term business, Non-Linked individual business remained the main driver, generating HKD 135.3 billion of new office premiums and HKD 233.5 billion of in-force revenue premiums. Linked individual business contributed HKD 5.7 billion of new office premiums and HKD 8.6 billion of in-force revenue premiums, while Retirement Scheme business brought in HKD 12.1 billion of in-force revenue premiums. Total claims and benefits paid under long term business fell 2.1% to HKD 92.3 billion, including HKD 43.9 billion in lapsation and surrender benefits. In general business, net premiums rose 12% to HKD 23.1 billion, gross claims paid increased 15% to HKD 14.1 billion, and operating profit climbed 56.1% to HKD 4.1 billion, including underwriting profit of HKD 2.6 billion, up 193.7%. The reinsurance inward segment moved to an underwriting profit of HKD 0.3 billion from a HKD 0.2 billion loss a year earlier. As of March 31, 2026, total and net assets stood at HKD 5,504 billion and HKD 733.3 billion for long term business, and HKD 351.9 billion and HKD 137.7 billion for general business.