Summary
Life Insurance in Hong Kong industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The Hong Kongese life insurance market had total gross written premiums of $71.6 billion in 2022, representing a compound annual growth rate (CAGR) of 4.8% between 2017 and 2022.
- The life insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $69.6 billion, equivalent to 97.1% of the market's overall value.
- The life insurance market in Hong Kong showed strong growth in 2022 but is expected to slow down in the forecast period due to rising inflation expectations.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Hong Kong
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Hong Kong
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Hong Kong life insurance market with five year forecasts
Reasons to Buy
- What was the size of the Hong Kong life insurance market by value in 2022?
- What will be the size of the Hong Kong life insurance market in 2027?
- What factors are affecting the strength of competition in the Hong Kong life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Hong Kong's life insurance market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What have been the recent developments by the leading players?
7.5. How has the COVID-19 outbreak impacted the market?
8 Company Profiles
8.1. AIA International Ltd
8.2. China Life Insurance (Overseas) Company Limited
8.3. Manulife (International) Limited
8.4. Prudential Corporation Asia Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Hong Kong life insurance market value: $ billion, 2017-22(e)
Table 2: Hong Kong life insurance market category segmentation: % share, by value, 2017–2022(e)
Table 3: Hong Kong life insurance market category segmentation: $ billion, 2017-2022
Table 4: Hong Kong life insurance market geography segmentation: $ billion, 2022(e)
Table 5: Hong Kong life insurance market value forecast: $ billion, 2022-27
Table 6: Hong Kong life insurance market share: % share, by value, 2022(e)
Table 7: AIA International Ltd: key facts
Table 8: AIA International Ltd: Key Employees
Table 9: China Life Insurance (Overseas) Company Limited: key facts
Table 10: China Life Insurance (Overseas) Company Limited: Key Employees
Table 11: Manulife (International) Limited: key facts
Table 12: Manulife (International) Limited: Key Employees
Table 13: Prudential Corporation Asia Ltd: key facts
Table 14: Prudential Corporation Asia Ltd: Key Employees
Table 15: Hong Kong size of population (million), 2018–22
Table 16: Hong Kong gdp (constant 2005 prices, $ billion), 2018–22
Table 17: Hong Kong gdp (current prices, $ billion), 2018–22
Table 18: Hong Kong inflation, 2018–22
Table 19: Hong Kong consumer price index (absolute), 2018–22
Table 20: Hong Kong exchange rate, 2016–20
List of Figures
Figure 1: Hong Kong life insurance market value: $ billion, 2017-22(e)
Figure 2: Hong Kong life insurance market category segmentation: $ billion, 2017-2022
Figure 3: Hong Kong life insurance market geography segmentation: % share, by value, 2022(e)
Figure 4: Hong Kong life insurance market value forecast: $ billion, 2022-27
Figure 5: Forces driving competition in the life insurance market in Hong Kong, 2022
Figure 6: Drivers of buyer power in the life insurance market in Hong Kong, 2022
Figure 7: Drivers of supplier power in the life insurance market in Hong Kong, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Hong Kong, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Hong Kong, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in Hong Kong, 2022
Figure 11: Hong Kong life insurance market share: % share, by value, 2022(e)
