Hong Kong Property & Casualty Insurance Faces Rising Claims Pressure in 2025
Hong Kong's property and casualty insurance sector is facing increased underwriting pressure following the recent Wang Fuk Court fire, adding to difficulties caused by claims from Super Typhoon Ragasa and severe black rainstorms. S&P Global Ratings projects that the sector's net combined ratio will rise from 93% in 2024 to 98% in 2025 due to these retained losses. This increase signals tighter underwriting margins amid escalating claims exposure in the region.