Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2017


#179242

242pages

Timetric

$ 1950

In Stock


Synopsis

The report provides in depth market analysis, information and insights into Hong Kong's personal accident and health insurance segment, including:

  • Hong Kong's personal accident and health insurance segment’s growth prospects by insurance categories
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in Hong Kong's personal accident and health insurance segment
  • Detailed competitive landscape in the personal accident and health insurance segment in Hong Kong
  • Detailed regulatory framework of Hong Kong's insurance industry
  • A description of the personal accident and health reinsurance segment in Hong Kong
  • Porter's Five Forces Analysis of the personal accident and health insurance segment
  • Benchmarking section on Hong Kong's personal accident and health insurance segment in comparison to other countries in the South-East Asian region

Executive summary

The Hong Kong personal accident and health insurance segment recorded growth during the review period, with the segment’s written premium value increasing at a CAGR of 6.9%. This growth was driven by an increase in healthcare expenditure, a rise in the volume of outbound tourists, favorable government initiatives and growing consumer awareness of the benefits of insurance products. Furthermore, Hong Kong’s positive economic outlook is expected to drive the growth of the segment over the forecast period. 

According to the IMF, Hong Kong’s GDP at current price is expected to increase at a CAGR of 8.1% over the forecast period, to reach a projected value of HKD3.0 trillion (US$387.2 billion) in 2017. This growth is expected to result in an increase in average income levels and, consequently, improved demand for personal accident and health insurance products. Specifically, the number of personal accident and health insurance policies sold in the country is expected to increase from 4.2 million in 2012 to 5.2 million in 2017, at a projected forecast-period CAGR of 4.5%.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Hong Kong:

  • It provides historical values for Hong Kong's personal accident and health insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
  • It offers a detailed analysis of the key sub-segments in Hong Kong's personal accident and health insurance segment, along with market forecasts until 2017
  • It covers an exhaustive list of parameters including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
  • It analyses the various distribution channels for personal accident and health insurance products in Hong Kong
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Hong Kong for the personal accident and health insurance segment
  • It provides a detailed analysis of the reinsurance segment in Hong Kong and its growth prospects
  • It profiles the top personal accident and health insurance companies in Hong Kong and outlines the key regulations affecting them

Reasons to buy

  • Make strategic business decisions using in depth historic and forecast market data related to Hong Kong's personal accident and health insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within Hong Kong's personal accident and health insurance segment
  • Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing Hong Kong's insurance segment and its impact on companies and the market's future

Key highlights

  • Health insurance was the largest category in the segment during the review period, representative of a 77.6% share of the total written premiums in 2012
  • This growth of the personal accident and health insurance segment was driven by an increase in healthcare expenditure, a rise in the volume of outbound tourists, favorable government initiatives and growing consumer awareness of the benefits of insurance products
  • Direct marketing was the most popular distribution channel in the personal accident and health segment, and accounted for 29.1% of the segment’s written premiums in 2012, up from 23.8% in 2008
  • The personal accident and health segment is highly competitive and concentrated, with the top 10 companies accounting for a combined segment share of 76.9% in 2011