Boston, MA -- (SBWIRE) -- 12/11/2013 -- The Hong Kong non-life insurance segment recorded strong growth during the review period, primarily supported by rising motor vehicle sales, an increase in construction activity and a favorable regulatory framework. Hong Kong's increasing volume of construction and infrastructure projects drove demand for property insurance during the review period. The written premium of the non-life segment increased, at a compound annual growth rate (CAGR) of 7.5% during the review period (2008-2012). General liability was the leading category in the segment, accounting for 43.1% of the written premium in 2012, followed by property insurance with a 27.9% share, motor insurance with 18.2%, and marine, aviation and transit insurance with 10.8%.

Key Highlights

- The Hong Kong non-life insurance segment recorded strong growth during the review period, primarily supported by rising motor vehicle sales, an increase in construction activity and a favorable regulatory framework
- The written premium of the non-life segment increased from HKD14.3 billion (US$1.8 billion) in 2008 to HKD19.1 billion (US$2.5 billion) in 2012, at a compound annual growth rate (CAGR) of 7.5% during the review period
- General liability was the leading category in the segment in 2012, accounting for 43.1% of written premiums. Property insurance was the second-largest category in the segment in 2012, accounting for 27.9% of written premiums
- Insurance brokers represented the second-largest distribution channel in the non-life segment in 2012, accounting for 26.1% of the written premium
- The Hong Kong non-life segment is fragmented with the 10 leading companies collectively accounting for 50.4% of the segment's written premium in 2011

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Scope

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

- It provides historical values for Hong Kong's non-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 non-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 non-life insurance products in Hong Kong
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Hong Kong for the non-life insurance segment
- It provides a detailed analysis of the reinsurance segment in Hong Kong and its growth prospects
- It profiles the top non-life insurance companies in Hong Kong and outlines the key regulations affecting them

Reasons to Get This Report

Companies Mentioned in this Report: AIG Insurance Hong Kong Ltd, Bank of China Group Insurance Company Ltd, Zurich Insurance (Hong Kong), China Taiping Insurance Holdings Company Ltd, QBE Hong Kong & Shanghai Insurance Ltd, MSIG Insurance (Hong Kong) Ltd, HSBC Insurance (Asia) Ltd, The Hong Kong Mortgage Corporation Ltd, Wing Lung Insurance Company Ltd, Axa General Insurance Hong Kong Ltd

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