"Hong Kong Insurance Report Q4 2015" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Mon Sep 28 2015

Despite already high rates of penetration, particularly in the life sector, Hong Kong's insurance market continues to expand, driven by domestic economic growth and strong demand for a broad range of insurance products across both life and non-life insurance. We expect premiums across most lines to increase throughout the forecast period, al though motor insurance will underperform due to a stalled autos segment, while general liability insurance will be the star performer.

Despite being one of the top 10 most penetrated insurance markets in the world, with a life insurance penetration of 12.8% of GDP, we expect the Hong Kong insurance market to continue growing steadily over the coming years and as a result life insurance penetration will rise to 13.8% by the end of our current forecast period in 2019. With the Hong Kong dollar pegged to the US dollar (USD) historically, growth in local currency terms is synonymous with growth in USD terms.

Full Report Details at
- http://www.fastmr.com/prod/1052927_hong_kong_insurance_report_q4.aspx?afid=301

We see growth slowing down slightly compared with the growth rates achieved in 2012 and 2013, with life premiums set to increase by 7.4% in 2015, compared with double-digit growth in previous years, and by a similar rate over the remainder of the forecast period. This is because as interest rates gradually normalise over the coming years, consumers will have alternative asset classes to invest in for yield, which could reduce demand for life insurance. Certain life insurers and their affiliated asset management companies offer products in the Mandatory Provident Fund (MPF), which has assets of more than HKD570bn (USD73.5bn). The MPF system is widely and rightly, seen as an important part of Hong Kong's overall organised savings landscape.

The Hong Kong Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Hong Kong Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Hong Kong insurance industry.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Hong Kong to test other views - a key input for successful budgeting and strategic business planning in Hong Kong's insurance market.
* Target business opportunities and risks in Hong Kong through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
* Exploit latest competitive intelligence

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For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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