Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2018

Date: 2015-09
Pages:244
Price:

The Hong Kong personal accident and health segmentโ€™s gross written premium grew at a review-period CAGR of 6.4%. Health insurance accounted for 77.2% of the personal accident and health insurance gross written premium value in 2013, followed by personal accident and travel insurance. The gross written premium of health insurance rose at a review-period CAGR of 6.4%. The increase in healthcare expenditure, a rise in outbound tourist volume, favorable government initiatives and growing consumer awareness of the benefits of insurance products all supported this growth. Hong Kongโ€™s positive economic outlook is also expected to drive the segmentโ€™s growth over the forecast period. According to the IMF Hong Kongโ€™s GDP at current prices is expected to increase at a forecast-period CAGR of 6.9%in 2018. This growth is expected to result in a rise in average income levels, and increase demand for personal accident and health insurance. Specifically, the number of personal accident and health insurance policies sold in Hong Kong is expected to increase, at a forecast-period CAGR of 5.2% in 2018.

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