Boston, MA -- (SBWIRE) -- 09/27/2012 -- The non-life insurance segment recorded strong growth during the review period and was primarily supported by rising motor vehicle sales, an increase in construction activities and a favorable regulatory framework. Hong Kong's increasing volume of construction and infrastructure projects drove the demand for property insurance during the review period.
- Despite the global financial crisis of 2009, the non-life insurance segment demonstrated a robust performance during the review period. The growth in the segment was driven by the rising sale of motor vehicles, increasing construction activities and a favorable regulatory framework.
- The increasing amount of construction and infrastructure activities in the country drove the demand for property insurance in Hong Kong during the review period. Like many other Asian countries, Hong Kong has been upgrading its basic infrastructure such as road networks, port facilities, and housing.
- The increasing penetration of distribution channels is expected to drive the growth of the non-life insurance segment over the forecast period. The expansion of distribution networks enables insurance companies to reach out to a larger customer base and increase the volume of sales.
- In order to expand their market presence, non-life insurance companies are developing new and innovative distribution channels.
- The Hong Kong non-life insurance segment is highly competitive with the presence of both domestic and foreign insurers.
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This report provides a comprehensive analysis of the non-life insurance market in Hong Kong:
- It provides historical values for the Hong Kong non-life insurance market for the report's 2007-2011 review period and forecast figures for the 2012-2016 forecast period
- It offers a detailed analysis of the key sub-segments in the Hong Kong non-life insurance market, along with market forecasts until 2016
- 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 non-life insurance business
- It provides a detailed analysis of the reinsurance market 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
- Make strategic business decisions using in depth historic and forecast market data related to the Hong Kong non-life insurance market and each sector within it
Companies Mentioned in this Report: Bank of China Group Insurance Company Limited, China Taiping Insurance Holdings Company Limited, Zurich Insurance Group, MSIG Insurance (Hong Kong) Limited, QBE Hong Kong & Shanghai Insurance Ltd, HSBC Insurance (Asia) Ltd, AXA General Insurance Hong Kong Ltd, Chartis Insurance Hong Kong Ltd, Wing Lung Insurance Company Limited, West of England Ship Owners Mutual Insurance Association
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