The Office of the Commissioner of Insurance said today total gross premiums of the Hong Kong insurance industry in the first half of 2014 amounted to HK$162.7 billion, an increase of 13.3% over the corresponding period in 2013.
Revenue premiums of Individual Life and Annuity (Non-Linked) business rose 25.7% to HK$104.1 billion whereas Individual Life and Annuity (Linked) business dropped 12.3% to HK$24.7 billion. Contributions of Retirement Scheme business grew slightly by 2.2% to HK$8.4 billion.
In the first half of 2014, gross and net premiums of general insurance business recorded growth of 1.8% to HK$23.2 billion and 1% to HK$16.4 billion respectively compared with the corresponding period in 2013. Overall underwriting profit was maintained at HK$1.5 billion, which is on a par with that in 2013.
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