The Insurance Authority (IA) revealed that for the first quarter of 2020, the total gross premiums of the Hong Kong insurance industry grew by 10.9% year on year to HK$165 billion.
According to the regulator, total revenue premiums of in-force long-term business were HK$146.7 billion, up 11% year on year. This was mainly comprised of HK$124.4 billion of individual life and annuity (non-linked) business, HK$6.4 billion of individual life and annuity (linked) business, and HK$13.9 billion of retirement scheme business, the last of which increased by 72.7% year on year.
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