Insurance Authority releases provisional statistics for 2025

Long Term Business Statistics

On 24 April 2026, the Insurance Authority ("IA") released provisional statistics for 2025, with total gross premiums reaching $827 billion (increased by 29.7%). Long term business new office premiums (excluding Retirement Scheme business) were $330.9 billion (increased by 50.6%), mainly composed of $312.1 billion from Non-Linked individual business (increased by 49.9%), which includes participating business of $282.8 billion (increased by 55.1%) and other businesses of $29.3 billion (increased by 13.7%), as well as $18.5 billion from Linked individual business (increased by 65.4%). Some 59,000 Qualifying Deferred Annuity Policies were issued that contributed $3.7 billion or 1.1% of the total premiums for individual business. Total revenue premiums of in-force business were $718.5 billion in 2025 (increased by 33.7%), composed of $632.7 billion from Non-Linked individual business (increased by 34.1%), $30.2 billion from Linked individual business (increased by 25.8%) and $49.3 billion from Retirement Scheme business (increased by 38%). Total claims and benefits paid amounted to $363 billion (increased by 3%). As of 31 December 2025, total assets under long term business grew to $5,398 billion and net assets were $744.3 billion.

General Business Statistics

General business total gross and net premiums in 2025 were $108.5 billion (increased by 8%) and $74.1 billion (increased by 6.3%) respectively, against which total gross claims of $55.4 billion were paid (increased by 4.5%). The overall operating profit was $11.4 billion (increased by 39.7%), of which $2.9 billion was attributable to underwriting profit (decreased by 12.5%). Direct business recorded gross and net premiums of $54.8 billion (increased by 6.6%) and $37.8 billion (increased by 5.7%) respectively, against which $29.1 billion of gross claims were paid (increased by 3.9%). Gross premiums were primarily driven by onshore Accident & Health business which contributed $23.7 billion (increased by 10.8%). The overall underwriting profit of $3.2 billion (increased by 174.7%) was supported by the turnaround in onshore Pecuniary Loss (including mortgage guarantee) business and onshore Accident & Health business, which recovered from a loss of $1.4 billion to a profit of $0.5 billion, and improved from a loss of $0.4 billion to a profit of $0.9 billion respectively. On the other hand, the underwriting profit of onshore Property Damage business dropped substantially to $15.8 million from $0.6 billion (decreased by 97.2%), after the claims paid and reserves provided by insurers in relation to the fire at Wang Fuk Court. As of 31 December 2025, total assets under general business grew to $337.9 billion and net assets were $136.5 billion.

Reinsurance Inward and Asset Position

On reinsurance inward business, gross and net premiums were $53.7 billion (increased by 9.4%) and $36.2 billion (increased by 7%) respectively, against which $26.3 billion of gross claims were paid (increased by 5.1%). Gross premiums were primarily driven by offshore Property Damage business amounting to $19.6 billion (increased by 12%) and Accident & Health business amounting to $10.6 billion (increased by 12.3%). An overall underwriting loss of $0.4 billion was recorded compared with a profit of $2.1 billion (decreased by 118.1%), mainly attributable to the sagged underwriting results of offshore Property Damage business, General Liability business and Accident & Health business.

Notes

1. Including lapsation/surrender benefits of $183.9 billion, as well as other claims and benefits of $179.2 billion. 2. As the end of financial year for certain insurers do not fall on 31 December, their data for 2024 is only partially included.