Hong Kong: Insurance sector records 13.9% increase in 2013 gross premiumsReprints
Hong Kong's insurance sector recorded a 13.9% year-on-year increase in total gross premiums to $290.7 billion Hong Kong ($37.5 billion) in 2013, the Office of the Commissioner of Insurance said.
Gross and net premiums of general insurance business grew 7.1% and 8%, respectively, Asia Insurance Review reported.
The underwriting profit of property damage business rose to HKD 562 million ($72.4 million) from HKD 429 million ($55.3 million).
Net premiums of reinsurance inward business increased from HKD 5.7 billion ($735.3 million) to HKD 6.2 billion ($799.8 million).