Allianz Warns Hong Kong to Lead Global Insolvency Surge in 2025

Hong Kong insolvency surge 2025 risks are expected to intensify, with the city forecast to post the world’s largest year-on-year increase in business failures, rising 44%, according to an Allianz Trade outlook.

The report said elevated insolvency levels remain widespread, with its headline indicator showing global insolvencies up 6% year to date in the third quarter of 2025.

Around two-thirds of countries, representing about 70% of global GDP, are expected to see failures rise or at least stabilise by year-end.

Beyond Hong Kong, Turkey and Greece are forecast to record 40% increases, followed by Italy at 35% and Switzerland at 28%.

Allianz said the Hong Kong insolvency surge 2025 forms part of a broader global uptrend likely to extend into 2026 for a fifth consecutive year, though slowing to about 3%, led by North America and Asia-Pacific.