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"Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2016" - New Market Report

Recently published research from Timetric, "Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2016", is now available at Fast Market Research

 
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Boston, MA -- (SBWIRE) -- 10/18/2012 -- The Hong Kong personal accident and health insurance segment recorded strong growth during the review period. The growth in the segment was driven by an increase in total healthcare expenditure, a rise in the volume of outbound tourists, favorable government initiatives, and growing consumer awareness regarding the benefits of insurance products. Furthermore, Hong Kong's positive economic outlook is expected to result in an increase in average income levels and, consequently, improve demand for personal accident and health insurance products over the forecast period.

Key Highlights

- Driven by an increase in total healthcare expenditure, a rise in the volume of outbound tourists, favorable government initiatives, and growing consumer awareness regarding the benefits of insurance products, the Hong Kong personal accident and health insurance segment recorded strong growth during the review period.
- The ageing population and the increasing cost of medical care in the country drove the growth of the private health insurance category during the review period.
- An increase in the number of outbound tourists supported the growth of the Hong Kong travel insurance category during the review period.
- During the review period, Hong Kong's insurance regulatory environment changed significantly, with numerous initiatives introduced in an effort to increase insurance penetration in the country.
- Increasing national healthcare expenditure is expected to improve the country's private healthcare services, and therefore encourage the population to purchase private health insurance.
- The Hong Kong personal accident and health insurance segment is highly competitive, containing, as of 2011, 54 domestic and foreign companies that continually compete to gain market share.

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the personal accident and health insurance market in Hong Kong:

- It provides historical values for the Hong Kong personal accident and health 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 personal accident and health 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 personal accident and health insurance products in Hong Kong
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Hong Kong for the personal accident and health insurance business
- It provides a detailed analysis of the reinsurance market in Hong Kong and its growth prospects

Companies Mentioned in this Report: Bupa (Asia) Limited, HSBC Insurance (Asia) Ltd., AXA General Insurance Hong Kong Ltd., American International Assurance Company (Bermuda) Limited, Blue Cross (Asia-Pacific) Insurance Limited, Bank of China Group Insurance Company Limited, Liberty International Insurance Ltd, Groupama-Gan Assurances, Prudential Corporation Asia Limited, Assicurazioni Generali S.p.A

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