"Life Insurance in Hong Kong, Key Trends and Opportunities to 2017" Published

From: Fast Market Research, Inc.
Published: Tue Dec 17 2013


In terms of gross written premium, the life insurance segment was the largest in the Hong Kong insurance industry during the review period and accounted for 87.5% of the total insurance industry's written premiums in 2012. The segment's written premium grew at a CAGR of 7.6% during the review period. The segment's growth was driven by rising consumer awareness of life insurance cover, favorable government regulations, product innovation and marketing campaigns. However, consumers have been reluctant to invest in unit-linked products which are highly exposed to market conditions, whereas traditional products such as whole life, endowment and term life insurance grew during the review period. This growth was mainly a result of the increasing acceptance of these products among the general public due to marketing strategies adopted by insurers to encourage clients to use traditional products as an investment vehicle during the economic downturn. Hong Kong's life insurance written premium is expected to grow at a CAGR of 4.9% over the forecast period.

Full Report Details at
- http://www.fastmr.com/prod/724778_life_insurance_in_hong_kong_key_trends_and.aspx?afid=303

Key Highlights

* In terms of gross written premium, the life insurance segment was the largest in the Hong Kong insurance industry during the review period
* The life insurance segment recorded notable growth by increasing at a CAGR of 7.6% during the review period
* The segment's growth was driven by rising consumer awareness of life insurance cover, favorable government regulations, product innovation and marketing campaigns
* Bancassurance is the one of the popular and dominant distribution channel for life products in Hong Kong, and accounted for 46.6% of the new business written premium in 2012
* The segment is highly concentrated with the 10-leading life insurance companies accounting for 75.2% of the segment's written premium in 2011

Scope

This report provides a comprehensive analysis of the life insurance segment in Hong Kong:

* It provides historical values for Hong Kong's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key sub-segments in Hong Kong's life insurance segment, along with market forecasts until 2017
* It covers an exhaustive list of parameters including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
* It analyses the various distribution channels for life insurance products in Hong Kong
* Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Hong Kong for the life insurance business
* It provides a detailed analysis of the reinsurance segment in Hong Kong and its growth prospects
* It profiles the top life insurance companies in Hong Kong and outlines the key regulations affecting them

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Non-Life Insurance in Hong Kong, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2017
- Life Insurance in Malaysia, Key Trends and Opportunities to 2017
- Life Insurance in Singapore, Key Trends and Opportunities to 2017
- Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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