Hong Kong Insurance Market Share, Global Insurance Industry Research - Ken Research

1
100 Foreign Direct Investment to Thrive Hong
Kong Insurance Industry Ken Research
2
Ken Research has announced recent report titled,
Governance, Risk and Compliance The Hong Kong
Insurance Industry which provides insights into
the governance, risk and compliance framework
pertaining to the insurance industry in Hong
Kong.
3
This report provides an overview of the insurance
regulatory framework in Hong Kong and the latest
key changes, and changes expected in the
country's insurance regulatory framework along
with key regulations and market practices related
to different types of insurance products in the
country. It gives a detailed analysis of the
insurance regulations for life, property, motor,
liability, personal accident and health, and
marine, aviation and transit insurance and
studies well the key parameters including
licensing requirements, permitted foreign direct
investment, minimum capital requirements,
solvency and reserve requirements, and investment
regulations.
4
It analyzes the rules and regulations pertaining
to the establishment and operation of insurance
businesses in the country and also provides the
details of taxation imposed on insurance products
and insurance companies. Hong Kong has had one
of the most developed insurance markets in the
region, with the per capita insurance premium
standing at high levels and also the country has
managed to attract many of the world's top
insurance companies. The regulatory body that
supervised and regulated the insurance industry
in Hong Kong had long been OCI though now, the
government of Hong Kong has forwarded a proposal
to establish the Independent Insurance Authority
(IIA), replacing the OCI as the country's
insurance regulator.
5
The leading insurers by overall gross premiums in
2014 had been AXA General Insurance Hong Kong,
Zurich Insurance Company Ltd, Bupa (Asia)
Limited, China Taiping Insurance (HK) Company
Limited, Bank of China Group Insurance Company
Limited, QBE-HKSI Limited, AIG Insurance Hong
Kong Limited, CNOOC Insurance Limited, Asia
Insurance Company Limited, and AXA China Region
Insurance Company Limited. Now the reinsurers
are not required to seek authorization to carry
out operational activities in Hong Kong and a
cherry on the top i.e. 100 foreign direct
investment is permitted in the insurance industry
that is allover expected to boost the industrys
performance. On the other hand, Composite
insurance is not permitted in the country due to
fears of extreme losses.
6

• Hong Kong had 161 authorized insurers as of
  end-June 2016, about half of which were
  incorporated overseas and among the
  overseas-incorporated insurers, Bermuda, the US
  and the UK had taken the lead. This number is
  definitely forecasted to ascend in the coming
  years with rising CAGR of the industry each year
  it proceeds.
• Key Factors Considered in the Report
• Global Insurance Industry Research
• Hong Kong Insurance Industry Research
• Hong Kong Non-Life Insurance Industry
• Hong Kong Life Insurance Market
• Hong Kong Life Insurance Market Research
• Life Insurance Sector Trends Hong Kong
• Hong Kong Insurance Industry Regulations
• Hong Kong Insurance Market Competition

7
For more coverage click on the link
below https//www.kenresearch.com/banking-financi
al-services-and-insurance/insurance/governance-ris
k-compliance-hong-kong-insurance/4928-93.html Rel
ated links https//www.kenresearch.com/banking-fi
nancial-services-and-insurance/insurance/governanc
e-risk-compliance-rwandan-insurance/4943-93.html
https//www.kenresearch.com/banking-financial-serv
ices-and-insurance/insurance/governance-risk-compl
iance-floridian-insurance/84898-93.html
8
Contact UsKen ResearchAnkur Gupta, Head
Marketing CommunicationsAnkur_at_kenresearch.com
91-9015378249