Blue Cross' gross written premium up 14 percent in 2025, upgrades home insurance

Blue Cross (Asia-Pacific) Insurance said on Wednesday that its gross written premium rose 14 percent year on year in 2025 and will upgrade its home insurance plan to "HomeSafe Protection Plus". 

Bonnie Tse, chief executive officer at Blue Cross, said the company’s medical insurance business and non-medical insurance business also saw growth at 10.4 percent and 25.3 percent respectively; the home insurance business grew by over 40 percent last year, reflecting significant potential in the home insurance market. 

Tse said the company's February survey found that 60 percent of respondents remain uninsured, primarily due to insufficient knowledge of coverage, concerns about premiums, and an inability to identify their protection needs, while more than 70 percent of respondents recognize the importance of home insurance. 

Tenants show particularly weak awareness of protection, with over 80 percent lacking coverage, which signals the company's close attention. 

She noted that respondents are generally concerned about household incidents such as fires, third-party claims, typhoons, black rainstorms, and water leaks.

Sylvia Chow, director of marketing at Blue Cross, said the surgery also highlighted that Generation Z faces barriers to buying home insurance because of a lack of understanding, rather than the premium cost, with nearly 40 percent citing unclear coverage as their reason for not buying. 

Chow said in response to the low awareness, the company upgraded the home insurance plan into a more comprehensive one, such as extending pet insurance coverage and adding business property coverage for work from home purpose. 

According to Blue Cross, the insured amount has also increased from HK$1.2 million to HK$3 million, and the public liability coverage is up to HK$20 million. The lowest insurance premium is around HK$600 to HK$700. 

Tse said that the company's home insurance scheme only applies to Hong Kong, and it may consider expanding the business to the Greater Bay Area, but the company still needs to review the regulatory and licensing requirements. 

Gloria Leung