Provisional statistics released by the Insurance Authority (IA) for the 2025 calendar year indicate a period of robust activity within Hong Kong’s long-term insurance sector. The data underscores the territory’s enduring status as a primary international centre for risk management and capital preservation. Throughout the twelve-month period, the market successfully registered 109,813 new direct long-term policies, a figure that reflects the sustained appetite for structured financial protection amongst a diverse range of policyholders.
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Analysis of New Business Performance
The new direct long-term business environment in 2025 was defined by a notable equilibrium between capital-intensive single premium investments and recurring annualised commitments. According to the official regulatory figures, the capital inflow for single premiums reached $21.1 billion (HK$162.0 billion). In parallel, annualised premiums for the same period were recorded at $22.0 billion (HK$168.9 billion).
These combined new business acquisitions extended coverage to approximately 1.1 million lives. Furthermore, the total value for sums assured or annuities per annum for this new business segment was valued at $96.5 billion (HK$742.1 billion). These figures demonstrate the significant scale of new capital entering the market and the breadth of the protection gap being addressed by authorised insurers.
Segmentation by Product Category
A detailed review of product categories reveals that participating business remains the cornerstone of the Hong Kong insurance industry. Participating policies—which permit policyholders to share in the profits of the insurer through dividends or bonuses—accounted for the largest share of the market by annualised premiums, contributing $19.5 billion (HK$149.7 billion).
Within this participating segment, the preference for long-term wealth transfer and protection was evident:
Whole Life Products: These instruments dominated the category, representing $16.5 billion (HK$126.6 billion) in annualised premiums and $15.7 billion (HK$121.0 billion) in single premiums.
Endowment Products: This sector recorded $1.0 billion (HK$7.9 billion) in annualised premiums.
Annuity Products: Both immediate and deferred annuities saw combined figures of $1.5 billion (HK$11.2 billion), illustrating a consistent trend towards retirement-focused financial planning.
In-Force Business and Total Market Valuation
As of 31 December 2025, the total volume of direct long-term in-force business—referring to the total pool of active policies maintained within the system—stood at 16.1 million policies. Whilst these active policies collectively covered 1.4 million lives, the financial scale of these obligations is substantial.
The total sums assured or annuities per annum for the entirety of the in-force business reached a valuation of $1.4 trillion (HK$11.1 trillion). This figure highlights the massive scale of the long-term liabilities and capital protection managed by the jurisdiction’s insurance providers. Regarding the total premiums receivable for in-force business during 2025, the Insurance Authority reported:
Single Premiums: $21.3 billion (HK$164.2 billion).
Non-Single (Recurring) Premiums: $20.6 billion (HK$158.4 billion).
The Regulatory and Economic Environment
The Insurance Authority, operating under the Insurance Ordinance (Cap. 41), serves as the independent regulator responsible for the oversight of the industry. Its primary objectives include the promotion of market stability and the protection of policyholders through rigorous supervision. The publication of these provisional 2025 figures is consistent with the IA’s commitment to market transparency and the provision of verifiable data for industry stakeholders.
The continued concentration of capital in whole life and participating products reinforces Hong Kong’s strategic position within the Asian financial ecosystem. The market caters not only to the local population but also to a significant international clientele seeking sophisticated insurance solutions and a stable regulatory framework. These 2025 statistics represent the collective efforts of authorised insurers and licensed insurance intermediaries, demonstrating a resilient demand for long-term financial security and professional wealth management services.