Accident and health, Hong Kong's largest non-life segment, posted its first underwriting profit in five years, though medical inflation remains a key headwind.
Strong top-line expansion in retail health, combined with operational cost efficiencies and lower claims ratios, supported the turnaround in underwriting profitability.
Onshore underwriting profit rose nearly elevenfold from a low year-earlier base, led by pecuniary loss business, while offshore premiums grew 18.9% but underwriting turned negative.
Policyholders of Cigna, Great Eastern, HSBC Life, Income Insurance, Singlife and Tokio Marine among those affected by the attack on the third-party administrator.
