Mainlanders’ insured in Hong Kong fell 26% in the first half of the year

According to statistics from the Insurance Regulatory Bureau, the premiums for new annuity business in Hong Kong in the first half of this year exceeded 4.789 billion yuan, a year-on-year surge of 44.3%. Among them, the second quarter was 2.31 billion yuan, down 6.82% quarter-to-quarter. In addition, in the first half of the year, the premiums for new customers in the first half of the year were 22.3 billion yuan, down 26.6% year-on-year, accounting for 26.6% of the total new office premiums for personal business.

According to the provisional statistics of the insurance industry in Hong Kong in the first half of the year, gross premiums totaled 253.7 billion yuan, up 7.2% over the same period last year. Among them, the new office premium for long-term business was 84.1 billion yuan, up 3.9%.

Annuity new business premiums rose by 44.3%

In the first half of the year, the premiums for new annuity business exceeded RMB 4.789 billion, a surge of 44.3% compared with RMB 3.319 billion in the same period last year. It is believed that this year, a number of insurance companies actively promoted annuity products and Hong Kong Annuity Company promoted its life annuity products, but only The premium for the new annuity business was 2.31 billion yuan, down from 2.479 billion yuan in the first quarter. The life annuity plan of the Hong Kong Annuity Company has an intention to subscribe for nearly RMB 5 billion. If the insurance formalities are completed, it is expected that the annuity premium will rise sharply in the second half of the year.

In addition, mainland visitors’ new office premiums fell back in the second quarter after the fourth quarter of last year and the first quarter of this year. The new office premiums for the first half of the year were 22.3 billion yuan, compared with 11.834 billion yuan in the first quarter, or 10.466 billion in the second quarter. Yuan, down 11.56% quarter-to-quarter. Of the new policies in the first half of the year, about 95% were medical or insurance-type insurance products, and about 99% were non-finished premium policies.

HSBC Insurance Hong Kong Chief Executive Wen Dehua said that HSBC Insurance regained the first place in Hong Kong’s life insurance industry. In the first half of the year, its new life insurance premiums increased by 38% year-on-year, and its market share increased by 3.4 percentage points to 16.3%. In the first half of this year, new life insurance premiums from Hong Kong residents and non-Hong Kong residents increased by 57.1% and 18.7% respectively.