Hong Kong’s insurance industry is projected to outpace the banking sector in recruitment activity in 2026, signalling a meaningful shift within the territory’s financial services landscape. This assessment comes from Randstad’s 2026 Market Outlook & Salary Guide, which indicates that insurers are entering the new year with heightened hiring momentum driven by regional expansion initiatives and shifting customer expectations.
The report highlights that insurers are steadily broadening their operational footprint beyond long-established markets. Expansion efforts are underway in Dubai, Thailand and the Philippines, reflecting a growing interest in developing a wider regional presence. This outward drive coincides with the increasing maturity of the domestic markets in Hong Kong and Mainland China, encouraging insurance companies to diversify geographically and explore emerging opportunities across Asia and the Middle East. Such strategic moves are viewed as essential for sustaining long-term growth in an evolving competitive environment.
Despite significant advances in digitalisation, the insurance sector continues to face persistent staffing shortages, particularly within life insurance claims departments. These positions remain challenging to fill due to the sensitive and discretionary nature of claims decisions, alongside the rising volume and complexity of cases. Although automation has streamlined many administrative tasks, the nuanced human judgement required for accurate claims assessment remains irreplaceable, underscoring the continued importance of skilled professionals in these roles.
The industry has also seen a clear shift away from relying solely on permanent back-office staff. Insurers are increasingly adopting contract-based and flexible employment models across claims processing, customer service and policy administration. According to Randstad, this hybrid hiring structure allows organisations to respond swiftly to fluctuating workloads and the growing complexity of customer needs. Contract employees are being used more frequently to support claims and underwriting teams, ensuring operational continuity during high-demand periods.
Looking forward, the report suggests that Hong Kong’s financial employment market will favour organisations capable of balancing operational discipline with sustained innovation. Companies that demonstrate strong fiscal governance while continuing to invest in human capital are expected to maintain a competitive advantage as the global financial environment becomes more dynamic. This strategic balance is likely to differentiate leading employers from the rest of the market.
For job seekers, the report outlines varied salary expectations based on experience and specialisation. Entry-level officers in administration, customer service and claims roles can expect a starting monthly salary of around $2,340 (HK$18,000). Mid-career professionals typically earn between $6,500 (HK$50,000) and $11,700 (HK$90,000), depending on position and experience. Meanwhile, high-demand specialist roles—including actuarial, underwriting, product development and transformation—offer substantially higher salaries ranging from $15,600 (HK$120,000) to $39,000 (HK$300,000).
The report identifies the Chief Actuary as the highest-paid position within the insurance industry, with salaries ranging between $23,400 (HK$180,000) and $39,000 (HK$300,000). This pay level reflects the critical role actuarial expertise plays in guiding strategic decision-making and safeguarding financial stability across insurance operations.