Virtual insurer OneDegree posted its first full-year profit of more than HK$1 million in 2025, becoming Hong Kong's fastest virtual financial institution to turn profitable, as policy growth and strong renewal rates drove full-year revenue to HK$330 million.
OneDegree's deputy chief executive Emily Chow Mei-wah said the company swung to profit from a loss of about HK$40 million in 2024, while customer numbers rose 19-fold from its 2020 launch. Total policies reached 240,000, with an overall renewal rate of 90 percent.
Pet insurance remains the company's flagship product, accounting for 78 to 85 percent of total policies, with revenue up 28 percent year-on-year and a renewal rate of 91 percent. Chow added that the digital asset insurance business has seen revenue surge sevenfold since its launch three years ago, driven by rapid expansion in the Middle East. The digital asset insurance business in Hong Kong now commands a market share of about 70 percent.
Fire insurance has become OneDegree's second-largest personal insurance segment, with premium income jumping 80 percent year on year in December after the Tai Po fire boosted public awareness, and posting nearly 30 percent growth in 2025.
Home insurance revenue rose nearly 40 percent last year, with over 60 percent of customers choosing at least one add-on coverage.
Cynthia ZHONG
