Hong Kong, Growth of nearly 14% market share in 2013

According to provisional figures from the Office of the Commissioner of Insurance of Hong Kong, the insurance market totaled USD 37.4 billion in gross premiums in 2013, an increase of 13.9% compared to 2012.

Life and non-life (including reinsurance acceptances) industries respectively cumulate 32.06 billion USD (+15.2%) and 5.4 billion (+7.1%).

The linked and non linked Individual life and annuity have respectively totaled 22.4 billion USD (+18.4%) and USD 7.05 billion (+9.5%). Contributions of retirement scheme on their side rose by 2.3% to 2.2 billion USD during the same period.

The non-life branch carries an overall underwriting profit increased by 36.4% to 387 million USD in 2013, direct business and reinsurance acceptances progressing respectively by 37.5% and 39% to 283.7 million USD and 105.7 million USD.

Note: growth rates calculated in local currency
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