Significant Revenue Growth for Life Insurers in Hong Kong

Life insurers in Hong Kong have marked a substantial 33.7% increase in revenue from in-force business premiums according to the Insurance Authority's preliminary data. Non-linked individual policies significantly boosted this figure by contributing $82.3 billion, while linked policies and retirement schemes added $3.9 billion and $6.4 billion, respectively. During the same period, a moderate 3% increase in claims and benefits paid brought the total to $47.2 billion.

New office premiums for long-term businesses, excluding retirement schemes, escalated to $43 billion, reflecting a 50.6% year-on-year growth. The surge was primarily driven by non-linked individual business, which contributed $40.6 billion. The industry's total gross premiums surged to $107.5 billion, a 29.7% increase from 2024. By December 2025, total assets for the long-term business sector rose to $0.7 trillion, with net assets valued at $96.8 billion.

Leading Market Players

Hang Seng Insurance led the market in total single premiums with $3.7 billion. This was followed by AIA International, FWD Life (Bermuda), HSBC Life, and Manulife (International). Alger Fung, CEO of AIA Hong Kong & Macau, emphasized the company’s 12-year leadership in new business policies. HSBC Life reported a 40% hike in new business premiums, totaling $6.7 billion for 2025, aligning with strategic expansion plans. Sun Life Hong Kong achieved a milestone in annualized premium equivalents (APE) for new business, reaching $1.5 billion, marking a 46% increase. CEO Clement Lam credited the broker, agency, and bancassurance channels for this success.