Life Insurance in Hong Kong, Key Trends and Opportunities to 2018

Date: 2015-09

The Hong Kong life insurance segment grew at a compound annual growth rate (CAGR) of 13.3% in 2013 during the review period. The growth was driven by rising consumer awareness, favorable regulation, product innovation and marketing campaigns. The life segment accounted for 85.7% of the Hong Kong insurance industryโ€™s gross written premium in 2013. Consumersโ€™ low risk-bearing capacity encouraged them to invest in whole life and endowment products instead of unit-linked products, which are highly exposed to market conditions. These categoriesโ€™ growth was also a result of rising acceptance of these products due to insurersโ€™ marketing campaigns, which encouraged traditional products as an investment vehicle during the economic downturn. The life segment is expected to grow at a projected forecast period CAGR of 7.5% in 2018 over the forecast period


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