Insurance Authority of Hong Kong: Total gross premiums in the first quarter of 2026 reached HK$291.6 billion, representing a year-on-year increase of 32.3%.

The Insurance Authority of Hong Kong announced the provisional statistics for the first quarter of 2026 on 24th July 2026 with a total gross premium of HK$291.6 billion (an increase of 32.3%). Long-term business The new business premiums for long-term business (excluding retirement business) amounted to HK$141.1 billion (an increase of 51.1%), mainly comprising HK$135.3 billion (an increase of 50.2%) for non-linked individual business, which can be further divided into HK$125.7 billion (an increase of 53.7%) for dividend business and HK$9.7 billion (an increase of 16%) for other business, as well as HK$5.7 billion (an increase of 77.2%) from linked individual business. Insurance companies issued approximately 28,000 qualifying deferred annuity policies, contributing premiums of HK$1.8 billion or 1.3% of the total for individual business. The total premium income for effective long-term business in the first quarter of 2026 was HK$256.4 billion (an increase of 35.6%), mainly consisting of HK$233.5 billion (an increase of 38.1%) for non-linked individual business, HK$8.6 billion (an increase of 39%) for linked individual business, and HK$12.1 billion (an increase of 3.2%) for retirement business. Additionally, the total claims and benefit payouts amounted to HK$92.3 billion (a decrease of 2.1%). As of 31st March 2026, the total assets and net assets for long-term business were HK$5,504 billion and HK$733.3 billion respectively. General business The gross premiums for general business in the first quarter of 2026 were HK$35.2 billion (an increase of 12.5%), which can be further divided into HK$15.8 billion (an increase of 3.4%) for direct onshore business, HK$2.1 billion (an increase of 10.6%) for direct offshore business, HK$2.9 billion (an increase of 28%) for reinsurance onshore business, and HK$14.4 billion (an increase of 21.6%) for reinsurance offshore business. The net premiums were HK$23.1 billion (an increase of 12%), with total claims already paid amounting to HK$14.1 billion (an increase of 15%). The overall operating profit was HK$4.1 billion (an increase of 56.1%), with underwriting profit accounting for HK$2.6 billion (an increase of 193.7%). The gross and net premiums for direct business were HK$17.8 billion (an increase of 4.2%) and HK$11.8 billion (an increase of 4%) respectively, with total claims already paid amounting to HK$7.1 billion (an increase of 5.4%). The gross premiums mainly came from onshore accident and health business contributing HK$8.4 billion (an increase of 9.9%). The underwriting profit of HK$2.3 billion (an increase of 118.2%) benefitted from onshore financial loss (including mortgage guarantee) business and onshore accident and health business, recording profits of HK$1.4 billion (an increase of 451.6%) and HK$0.3 billion (an increase of 178%) respectively. For reinsurance business, the gross and net premiums were HK$17.3 billion (an increase of 22.7%) and HK$11.3 billion (an increase of 21.8%) respectively, with total claims already paid amounting to HK$6.9 billion (an increase of 26.7%). The gross premiums were primarily driven by offshore property damage business recording HK$5.1 billion (an increase of 8.3%), offshore accident and health business recording HK$3.4 billion (an increase of 56.4%), and offshore motor business recording HK$1.9 billion (an increase of 29.8%). The underwriting performance improved from a loss of HK$0.2 billion in the same period in 2025 to a profit of HK$0.3 billion, supported by offshore property damage business and offshore motor business. As of 31st March 2026, the total assets and net assets for general business were HK$351.9 billion and HK$137.7 billion respectively.