Hong Kong allowance industry’s first-half absolute gross premiums grew by 16.6 percent to HK$295.8 billion, abstracts from the Allowance Ascendancy show.
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The absolute bulk of acquirement premiums of continued appellation in-force business added by 17.5 percent to HK$265.3 billion in the aboriginal half.
Revenue premiums of alone activity and accomplishment (non-linked) business grew by 20.5 percent to HK$232 billion while those of alone activity and accomplishment (linked) business fell by 19.4 percent to HK$13.8 billion.
Contributions of retirement arrangement business grew by 22.4 percent to HK$16.5 billion.
On new business, new appointment premiums (excluding retirement Ssheme business) of continued appellation business added by 18.7 percent to HK$99.9 billion, including HK$93.8 billion from alone activity and accomplishment (non-linked) business (up 25 percent) and HK$5.8 billion from affiliated business (down 33.5 percent).
New appointment premiums in account of behavior issued to acreage visitors added by 17.9 percent to HK$26.3 billion, accounting for 26.4 percent of the absolute new appointment premiums for alone business.
Among these new policies, about 97 percent were medical or careful in nature, such as analytical illness, medical, accomplished life, appellation activity and accomplishment products, the ascendancy said.
In agreement of exceptional acquittal pattern, about 99 percent of the behavior were paid at approved intervals, as in non-single premiums.
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