The Hong Kong Insurance Authority published provisional statistics for the Hong Kong insurance market covering the first three quarters of 2025, reporting total gross premiums of $637 billion, up 32.5% year on year. Long term business accounted for most of the increase, while general insurance recorded moderate premium growth alongside a sharp rise in operating profit. In long term business, new office premiums (excluding Retirement Scheme business) totalled $264.5 billion, up 55.9%, driven by Non-Linked individual business of $251.5 billion (including participating business of $226.3 billion) and Linked individual business of $12.7 billion. Total revenue premiums of in-force long term business rose 36.6% to $554.1 billion, while total claims and benefits paid amounted to $279.4 billion, including $141.6 billion in lapsation and surrender benefits; assets under long term business stood at $5,284.1 billion and net assets at $731.7 billion as of 30 September 2025. In general business, total gross and net premiums were $82.9 billion and $56.0 billion, with gross claims of $38.0 billion and overall operating profit of $10.1 billion (including underwriting profit of $3.5 billion); direct business was primarily driven by onshore Accident and Health premiums of $19.4 billion, while inward reinsurance growth was led by offshore Property Damage and Motor Vehicle business. The IA noted that 2024 general business data is only partially included for certain insurers whose financial year-end does not fall on 31 December.

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