Insurance Authority said the provisional statistics for the first half of 2026 rose 35.5 percent to a total gross premium of HK$573.6 billion.
New office premiums (excluding retirement scheme business) for long-term business were HK$275.2 billion, rising 58.4 percent, mainly composed of HK$262.9 billion derived from non-linked individual business that increased by 57.8 percent, which can be further broken down into participating business of HK$245.4 billion, increasing 63.7 percent, and other businesses of HK$17.5 billion that rose 4.9 percent.
In addition, HK$12 billion came from linked individual business, an increase of 73.7 percent.
IA issued some 33,000 qualifying deferred annuity policies contributing HK$2.1 billion, or 0.8 percent, of the total premiums for individual business.
Total revenue premiums of in-force business were HK$509.9 billion in the first half of 2026, up 39.7 percent, mainly composed of HK$465.8 billion derived from non-linked individual business, up 44.8 percent, HK$17.8 billion from linked individual business, up 40 percent, and HK$22.2 billion from retirement scheme business, down 16.7 percent.
In addition, total claims and benefits paid were HK$179.8 billion, down 6.3 percent.
During the period, total gross premiums of general business were HK$63.7 billion, up 9.1 percent. Net premiums were HK$42.1 billion, up 5.7 percent, while total gross claims paid were HK$31.3 billion, up 22.2 percent. Overall operating profit was HK$9.6 billion, up 48.1 percent, of which HK$5.8 billion was attributable to underwriting profit, up 253.1 percent.
According to IA’s provisional statistics for the period, HSBC Life continued to rank first in Hong Kong’s life insurance market for both new business premiums and annualized new premiums, with a market share of 24.3 percent and 23.3 percent, or HK$66.8 billion and HK$25.3 billion, respectively.
Daisy Tsang, HSBC Life Hong Kong chief executive and HSBC insurance co-CEO, said the insurance unit expects underlying demand for long-term insurance to continue to grow, particularly in response to protection and legacy-planning needs, underpinned by attractive propositions, high-quality service and sound risk management.
