Hong Kong’s long-term insurance industry issued 109,813 new direct long-term policies in 2025, according to provisional data published by the Insurance Authority. The figures provide an overview of market activity across new business written during the year, including both protection and savings-linked insurance products.
New direct long-term business generated significant premium inflows over the reporting period. Single premiums reached US$21.1 billion (HK$162.0 billion), while annualised premiums stood at US$22.0 billion (HK$168.9 billion). These totals reflect combined contributions from a range of long-term insurance products issued during the year.
The scale of coverage also expanded materially. New policies covered a total of 1.1 million lives, while the corresponding sums assured or annuities payable per annum amounted to US$96.5 billion (HK$742.1 billion). This figure represents the aggregate financial protection and retirement income commitments associated with newly issued contracts.
In terms of product composition, participating business remained the largest segment by annualised premiums, contributing US$19.5 billion (HK$149.7 billion). Within this category, whole life insurance products accounted for the largest share of activity, with US$16.5 billion (HK$126.6 billion) in annualised premiums and US$15.7 billion (HK$121.0 billion) in single premiums.
Other participating product lines recorded more moderate volumes. Endowment products generated US$1.0 billion (HK$7.9 billion) in annualised premiums, while immediate and deferred annuities accounted for US$1.5 billion (HK$11.2 billion). These segments collectively reflect the continued role of long-term savings and retirement-focused insurance offerings within the market structure.
By the end of December 2025, the stock of in-force direct long-term business reached 16.1 million policies. These policies covered 1.4 million lives in total, reflecting the accumulated scale of Hong Kong’s long-term insurance penetration.
The total sums assured or annuities payable per annum for in-force business stood at US$1.4 trillion (HK$11.1 trillion). This indicates the substantial level of ongoing obligations held by insurers across existing contracts.
Premium flows from in-force business also remained considerable. Direct long-term premiums receivable totalled US$21.3 billion (HK$164.2 billion) in single premiums and US$20.6 billion (HK$158.4 billion) in non-single premiums, reflecting continued premium contributions from policyholders under existing arrangements.
Key statistics for 2025
| Indicator | US Dollar Value | Hong Kong Dollar Value |
|---|---|---|
| New policies issued | 109,813 | — |
| Lives covered (new business) | 1.1 million | — |
| Single premiums (new business) | 21.1 billion | 162.0 billion |
| Annualised premiums (new business) | 22.0 billion | 168.9 billion |
| Sums assured / annuities (new business) | 96.5 billion | 742.1 billion |
| Participating business (annualised premiums) | 19.5 billion | 149.7 billion |
| In-force policies | 16.1 million | — |
| Lives covered (in-force) | 1.4 million | — |
| In-force sums assured / annuities | 1.4 trillion | 11.1 trillion |
| In-force single premiums | 21.3 billion | 164.2 billion |
| In-force non-single premiums | 20.6 billion | 158.4 billion |