GlobalData expects the sector to grow at a CAGR of 5.2% over the next five years, driven by “heightened private expenditure and enhanced investment activities.”
Reinsurers and life firms face the biggest impact of an accounting change which moves the industry away from relying on Gross Written Premiums as a way of reporting revenue.
Chairman Stephen Yiu says IA is committed to enhancing prudential frameworks, focusing on RBC and group-wide supervision to attract more business and investment to Hong Kong.
The insurer said it will collaborate with the community chest in channelling donations to specific charities, mainly tackling mental health and diabetes prevention.
Hard market and healthy investment income support outlook, with Moody's adding that limited nat cat events in next 12-18 months may lead to market softening.
