Albany, NY -- (SBWire) -- 12/02/2014 --Synopsis
The report provides in-depth market analysis, information and insights into Hong Kong personal accident and health insurance segment, including:
The Hong Kong personal accident and health insurance segment's growth prospects by insurance category
Key trends and drivers for the personal accident and health insurance segment
The various distribution channels in the Hong Kong personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in Hong Kong
Detailed regulatory policies of Hong Kong insurance industry
Analysis of various consumer segments in Hong Kong personal accident and health insurance
Key developments in the Hong Kong personal accident and health insurance segment
New products launched by Hong Kong personal accident and health insurers
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Executive summary
The Hong Kong personal accident and health segment's gross written premium grew at a review-period CAGR of 6.4%. Health insurance accounted for 77.2% of the personal accident and health insurance gross written premium value in 2013, followed by personal accident and travel insurance. The gross written premium of health insurance rose at a review-period CAGR of 6.4%. The increase in healthcare expenditure, a rise in outbound tourist volume, favorable government initiatives and growing consumer awareness of the benefits of insurance products all supported this growth. Hong Kong's positive economic outlook is also expected to drive the segment's growth over the forecast period. According to the IMF Hong Kong's GDP at current prices is expected to increase at a forecast-period CAGR of 6.9%in 2018. This growth is expected to result in a rise in average income levels, and increase demand for personal accident and health insurance. Specifically, the number of personal accident and health insurance policies sold in Hong Kong is expected to increase, at a forecast-period CAGR of 5.2% in 2018.
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Hong Kong:
It provides historical values for the Hong Kong personal accident and health insurance segment for the report's 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
It offers a detailed analysis of the key categories in the Hong Kong personal accident and health insurance segment, along with market forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for personal accident and health insurance products in Hong Kong.
It profiles the top personal accident and health insurance companies in Hong Kong and outlines the key regulations affecting them.
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Reasons to buy
Make strategic business decisions using in-depth historic and forecast market data related to the Hong Kong personal accident and health insurance segment and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the Hong Kong personal accident and health insurance segment.
Assess the competitive dynamics in the personal accident and health insurance segment.
Identify the growth opportunities and market dynamics in key product categories.
Gain insights into key regulations governing the Hong Kong insurance industry and their impact on companies and the industry's future.
Key highlights
The gross written premium of the Hong Kong personal accident and health segment grew at a review-period CAGR of 6.4%.
Health insurance was the segment's largest category during the review period, accounting for a gross written premium share of 77.2% in 2013.
This increase was driven by a rise in healthcare expenditure, an increase in the volume of outbound tourists, favorable government initiatives and growing consumer awareness of the benefits of insurance.
Health insurance is expected to retain the largest share of the Hong Kong personal accident and health segment's gross written premium over the forecast period
E-commerce is expected to record a CAGR of 8.2% over the forecast period, as personal accident and health insurers increasingly use online distribution channels
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