Hong Kong’s long-term insurance sector recorded 109,813 new direct long-term policies in 2025, according to provisional statistics released by the Insurance Authority. The figures reflect continued activity across both protection and savings-oriented insurance products during the reporting period.
New direct long-term business generated substantial inflows, with single premiums amounting to US$21.1 billion (HK$162.0 billion) and annualised premiums reaching US$22.0 billion (HK$168.9 billion). These figures highlight the scale of new business written in the market over the year.
In terms of coverage, the total number of lives insured under new business stood at 1.1 million. The aggregate sums assured or annuities payable per annum for new policies reached US$96.5 billion (HK$742.1 billion), indicating the overall level of financial protection and retirement income commitments underwritten during the period.
Participating business remained the dominant segment by annualised premiums, contributing US$19.5 billion (HK$149.7 billion). Within this category, whole life insurance products represented the largest share, accounting for US$16.5 billion (HK$126.6 billion) in annualised premiums and US$15.7 billion (HK$121.0 billion) in single premiums. Endowment products contributed a further US$1.0 billion (HK$7.9 billion) in annualised premiums. Immediate and deferred annuity products recorded US$1.5 billion (HK$11.2 billion) in annualised premiums, reflecting ongoing demand for retirement-related financial planning solutions.
By the end of December 2025, Hong Kong’s direct long-term in-force business stood at 16.1 million policies, covering 1.4 million lives. The total sums assured or annuities payable per annum for in-force policies reached US$1.4 trillion (HK$11.1 trillion), underscoring the scale of accumulated long-term insurance obligations within the market.
Premium inflows for in-force business during the period also remained significant. Direct long-term premiums receivable totalled US$21.3 billion (HK$164.2 billion) in single premiums and US$20.6 billion (HK$158.4 billion) in non-single premiums, reflecting continued policyholder contributions across existing contracts.
Key figures (2025)
| Indicator | Value (USD) | Value (HKD) |
|---|---|---|
| New policies issued | 109,813 | — |
| Lives covered (new business) | 1.1 million | — |
| Single premiums (new business) | 21.1 billion | 162.0 billion |
| Annualised premiums (new business) | 22.0 billion | 168.9 billion |
| Sums assured / annuities (new business) | 96.5 billion | 742.1 billion |
| Participating business (annualised premiums) | 19.5 billion | 149.7 billion |
| In-force policies | 16.1 million | — |
| Lives covered (in-force) | 1.4 million | — |
| In-force sums assured / annuities | 1.4 trillion | 11.1 trillion |
| In-force single premiums | 21.3 billion | 164.2 billion |
| In-force non-single premiums | 20.6 billion | 158.4 billion |