HK's insurance gross premiums up 12.7 pct in 2012

Email|Print|Comments       twitter     facebook     Sina Microblog     reddit    

Hong Kong insurance industry's gross premiums increased 12.7 percent to 263.3 billion HK dollars (about 33.97 billion U.S. dollars) in 2012, the city's Office of the Commissioner of Insurance announced Monday.

For long-term insurance business, office premiums of new Individual Life business grew 7.7 percent to 75.3 billion HK dollars, according to the figures released.

In respect of in-force long-term business, total office premiums increased 12.7 percent to 224.1 billion HK dollars. Yearly contributions for retirement scheme contracts administered by insurers increased nearly 15 percent.

General insurance business recorded a year-on-year increase in gross and net premiums. The rise in gross premiums was mainly contributed by general liability business.

The general insurance business overall underwriting profit decreased to 2 billion HK dollars, mainly due to adverse claims experience. (1 U.S. dollar = 7.75 HK dollars)

• Putting money on full moon
• China lifts cap on life insurance interest rate
• ChannelSoft helps insurers with marketing
• Moody's sees downgrade for insurers
• PICC and AIG joint venture deal signed
• Chinese insurers look at real estate investment in Australia
• Chinese insurers improve services amid 'difficult year'
• China to be 2nd largest insurance market
• CPIC's 2012 net profit down 39 percent
• Compulsory insurance for environment risks

We Recommend

• National Plug In Day celebrated in Washington D.C.
• New model of indigenous surface-to-air missiles testfired
  
• 118.28-carat diamond to be auctioned in HK
• Maternal love under streetlight
• Naked foreign student sits in the middle of a road in Haikou
  
• Colorful Yunnan: Enjoy the natural beauty
  
• Harbin named Chinese city with most beautiful women
• For last four students, teacher couple sticks to post on island
• When big sport stars were kids