New Insurance research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/05/2014 -- The Hong Kong non-life insurance segment grew at a review-period (2009-2013) compound annual growth rate (CAGR) of 10.6%, primarily supported by rising motor vehicle sales, increased construction activity and a favorable regulatory environment. The increasing volume of construction and infrastructure projects drove demand for property insurance during the review period, supported the non-life segment. The non-life segment's gross written premium grew at a review-period CAGR of 10.6%, and is expected to increase at a forecast-period (2014-2018) CAGR of 8.9%) in 2018. Property insurance was the largest category, in terms of gross written premium, during the review period accounting for 37.6% of the segment's gross written premium in 2013. Liability insurance was the second-largest category in 2013.
- Despite the global financial crisis, the Hong Kong non-life insurance segment grew at a review-period CAGR of 10.6%.
- Property insurance was the segment's leading category in 2013, accounting for 37.6% of its gross written premium.
- The OCI is reviewing insurers' solvency and capital regimes, and plans to set up a risk-based capital framework for Hong Kong to be implemented by 2016.
- Property insurance is expected to be the second-largest category in 2018
- Rising motor vehicle sales, increased construction activity and the presence of mandatory employees' compensation, and motor third-party liability insurance supported the non-life segment's growth
View Full Report Details and Table of Contents
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 2009-2013 review period, and projected figures for the 2013-2018 forecast period.
- It offers a detailed analysis of the key categories in Hong Kong's non-life insurance segment, along with market forecasts until 2018.
- 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.
- 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 segment and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Hong Kong non-life insurance segment.
- Assess the competitive dynamics in the non-life insurance segment.
- Identify the growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Hong Kong insurance industry and their impact on companies and the industry's future.
Companies Mentioned in this Report: Zurich Insurance (Hong Kong) Ltd, China Taiping Insurance (HK) Company Ltd, Axa General Insurance Hong Kong Ltd, Bank of China Group Insurance Company Ltd, QBE Hongkong & Shanghai Insurance Ltd, AIG Insurance Hong Kong Ltd, Asia Insurance Company, Ltd, MSIG Insurance (Hong Kong) Ltd, Lloyd's Underwriters, ACE Insurance Ltd (Hong Kong)
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