Research and Markets: Hong Kong Personal Accident and Health Insurance Market to 2017

Business Wire

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/6t93sx/personal_accident) has announced the addition of the "Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2017" report to their offering.

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%.

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

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Regional Market Dynamics

4 Personal Accident and Health Insurance Segment-Regional Benchmarking

5 Hong Kong Insurance Industry Attractiveness

6 Personal Accident and Health Insurance Segment Outlook

7 Analysis by Distribution Channels

8 Porter's Five Forces Analysis - Hong Kong Personal Accident and Health Insurance

9 Reinsurance Growth Dynamics and Challenges

10 Governance, Risk and Compliance

11 Competitive Landscape and Strategic Insights

12 Business Environment and Country Risk

For more information visit http://www.researchandmarkets.com/research/6t93sx/personal_accident

Contact:
Research and Markets
Laura Wood, Senior Manager.
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Health Insurance

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