Hong Kong insurance industry sees premiums rise 9%

Insurers in Hong Kong saw premiums increase more than 9% year-over-year to surpass HK$580bn ($75bn) in 2019, despite the damage caused by protests in the city-state in the second half of last year, data from the Hong Kong Insurance Authority revealed. Total revenue premiums of long term in-force business were HK$524.6bn in 2019, up by 9.7% year-on-year. This was made up of HK$457.1bn of individual life and annuity (non-linked) business (up by 15.3%), HK$27.7bn of individual life and annuity (linked) business (down by 20.5%), and HK$33.8bn of retirement scheme business (down by 19%). O...