Hong Kong Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in Hong Kong industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
- The Hong Kongese non-life insurance market had total gross written premiums of $8.9 million in 2022, representing a compound annual growth rate (CAGR) of 13.8% between 2017 and 2022.
- The Liability segment accounted for market's the largest proportion in 2022, with total gross written premiums of $2.5 million, equivalent to 28% of the market's overall value.
- Notably, external debt in Hong Kong decreased to HKD14.3 trillion ($1.83 trillion) in the third quarter of 2022 from HKD14.4 trillion ($1.85 trillion) in the second quarter of 2022.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Hong Kong
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Hong Kong
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Hong Kong non-life insurance market with five year forecasts
- What was the size of the Hong Kong non-life insurance market by value in 2022?
- What will be the size of the Hong Kong non-life insurance market in 2027?
- What factors are affecting the strength of competition in the Hong Kong non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Hong Kong's non-life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. What has been the rationale behind recent M&A activity?
- 7.5. How has the COVID-19 outbreak impacted the market?
- 8 Company Profiles
- 8.1. China Life Insurance Co Ltd
- 8.2. China Pacific Insurance (Group) Co Ltd
- 8.3. PICC Property and Casualty Co Ltd
- 8.4. Ping An Insurance (Group) Company of China, Ltd.
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. About MarketLine
- List of Tables
- Table 1: Hong Kong non-life insurance market value: $ billion, 2017-22(e)
- Table 2: Hong Kong non–life insurance market category segmentation: % share, by value, 2017–2022(e)
- Table 3: Hong Kong non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: Hong Kong non–life insurance market geography segmentation: $ billion, 2022(e)
- Table 5: Hong Kong non-life insurance market value forecast: $ billion, 2022-27
- Table 6: Hong Kong non-life insurance market share: % share, by value, 2022(e)
- Table 7: China Life Insurance Co Ltd: key facts
- Table 8: China Life Insurance Co Ltd: Key Employees
- Table 9: China Life Insurance Co Ltd: Key Employees Continued
- Table 10: China Pacific Insurance (Group) Co Ltd: key facts
- Table 11: China Pacific Insurance (Group) Co Ltd: Annual Financial Ratios
- Table 12: China Pacific Insurance (Group) Co Ltd: Key Employees
- Table 13: China Pacific Insurance (Group) Co Ltd: Key Employees Continued
- Table 14: PICC Property and Casualty Co Ltd: key facts
- Table 15: PICC Property and Casualty Co Ltd: Annual Financial Ratios
- Table 16: PICC Property and Casualty Co Ltd: Key Employees
- Table 17: Ping An Insurance (Group) Company of China, Ltd.: key facts
- Table 18: Ping An Insurance (Group) Company of China, Ltd.: Annual Financial Ratios
- Table 19: Ping An Insurance (Group) Company of China, Ltd.: Key Employees
- Table 20: Ping An Insurance (Group) Company of China, Ltd.: Key Employees Continued
- Table 21: Hong Kong size of population (million), 2018–22
- Table 22: Hong Kong gdp (constant 2005 prices, $ billion), 2018–22
- Table 23: Hong Kong gdp (current prices, $ billion), 2018–22
- Table 24: Hong Kong inflation, 2018–22
- Table 25: Hong Kong consumer price index (absolute), 2018–22
- Table 26: Hong Kong exchange rate, 2017–21
- List of Figures
- Figure 1: Hong Kong non-life insurance market value: $ billion, 2017-22(e)
- Figure 2: Hong Kong non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: Hong Kong non–life insurance market geography segmentation: % share, by value, 2022(e)
- Figure 4: Hong Kong non-life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the non-life insurance market in Hong Kong, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in Hong Kong, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in Hong Kong, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Hong Kong, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Hong Kong, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Hong Kong, 2022
- Figure 11: Hong Kong non-life insurance market share: % share, by value, 2022(e)
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