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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Hong Kong non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Hong Kong's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Hong Kong non-life (P&C) market as well as trends by line of business. Axco analysts also report on Hong Kong's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Hong Kong's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Hong Kong, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Hong Kong, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Hong Kong with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Hong Kong is a special administrative region (SAR) of the People's Republic of China. Under the "one country, two systems" model, the territory has its own insurance regulatory system and has retained its UK common law inheritance. It is therefore the most litigious society in Asia and its insurance market has a large element of long-tail liability lines (principally motor third party liability and employees' compensation - the Hong Kong equivalent of workers' compensation/employers' liability).
Although Hong Kong's domestic market is quite small ....
This is a brief extract of information; more updated information may be available in the latest published report.
