Hong Kong Insurance Authority: The total gross premium income reached USD 220.3 billion in the first quarter of 2025.

The Insurance Authority of Hong Kong announced provisional statistics for the first quarter of 2025 today (July 25), with a total premium income of 220.3 billion US dollars during the period. In the first quarter of 2025, the total premium income from long-term effective business was 189.1 billion US dollars (up 31.1% year-on-year), including 169 billion US dollars from non-linked individual business (up 29.5% year-on-year), 62 billion US dollars from linked business (up 23.4% year-on-year), and 11.7 billion US dollars from retirement plan business (up 73.2% year-on-year). In addition, the total amount of claims and benefits paid to policyholders amounted to 94.3 billion US dollars (down 7.4% year-on-year). The gross written premiums and net written premiums for general business were 31.2 billion and 20.6 billion US dollars respectively, with a total of 12.2 billion US dollars already paid for claims. The overall operating profit was 2.7 billion US dollars, with underwriting profit contributing 0.9 billion US dollars. New business premiums for long-term business (excluding retirement plan business) amounted to 93.4 billion US dollars (up 43.1% year-on-year), including 90.1 billion US dollars from non-linked individual business (up 42.3% year-on-year), of which 81.7 billion US dollars were from dividend business and 8.3 billion US dollars from other businesses; as well as 3.2 billion US dollars from linked individual business (up 74.8% year-on-year). Insurance companies issued approximately 35,000 qualified deferred annuity policies, contributing premiums of 2.2 billion US dollars or 2.4% of total individual business. For direct general business, the gross written premiums and net written premiums were 17.1 billion and 11.3 billion US dollars respectively, with a total of 6.7 billion US dollars already paid for claims. The gross written premiums for accident and health business, general liability (including employee compensation) business, and marine, aviation, and transport business were 8 billion, 3.3 billion, and 2.2 billion US dollars respectively. The overall underwriting profit was 1.1 billion US dollars, mainly derived from general liability (including employee compensation) business, financial loss business, and accident and health business. In the reinsurance business, the gross written premiums and net written premiums were 14.1 billion and 9.3 billion US dollars respectively, with a total of 5.5 billion US dollars already paid for claims. The gross written premiums mainly came from property damage business, accident and health business, and general liability business. The overall underwriting loss was 0.2 billion US dollars, primarily from general liability business and auto business.