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HK records rise in new business premiums from mainland

Hong Kong's Insurance Authority has recorded an increase in new business premiums from mainland visitors in the first three quarters of this year to HKD1bn. However, total gross premiums for the first three quarters dropped 5.1% yearly to HKD432.7bn. For existing long-term business, total premiums fell 6.3% year-on-year to HKD381.4bn. For long-term business, new office premiums shrank 8.4% to HKD112.2bn. In contrast, the gross premiums of general business increased 5.3% to HKD51.4bn and net premiums climbed 2.8% to HKD33.7bn. The overall underwriting of general business surged 1.83 times yearly to HKD3.4bn.

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