HSBC Life hits HK$24.7b in new business premiums

Annualised new premiums accounted for 19.7% of the market total.

HSBC Life reported to write over $3.17b (HK$24.7b) new business premiums in the first six months of the year (H1 2024), securing 21.4% of the industry’s market share in Hong Kong.

According to provisional statistics from the Insurance Authority (HKIA), HSBC Life captured 21.4% of the market in New Business Premiums and 19.7% in Annualised New Premiums during the first half of the year (H1 2024).

“Hong Kong's status as an international financial centre, coupled with the strong fundamentals of its insurance sector, continues to show encouraging signs of growth and enables us to deliver innovative solutions to cater to the evolving needs of our customers. We are confident in continuing our growth trajectory in the coming quarters,” Daisy Tsang, CEO of HSBC Life Hong Kong and Macau, said in a statement.

($1.00 = HK$7.80)