MSIG Insurance (Hong Kong) Limited recorded a claims settlement ratio of 94.7% in 2025 – its fifth consecutive annual increase since 2020, when the figure stood at 91.1% – according to the insurer’s 2025 Claims Report, published July 28, 2026. The result arrives as complaint volumes across the Hong Kong insurance market climbed to their highest level since 2019, placing claims handling conduct under direct regulatory attention.
MSIG paid out HK$359 million in claims across Hong Kong and Macau during the year. By line of business, Employees’ Compensation Hong Kong led at 99.87%, followed by Helper at 97.57% and Travel at 96.27%. The six-year trajectory – 91.1% in 2020, 92.4% in 2021, 92.9% in 2022, 93.2% in 2023, 94.5% in 2024, and 94.7% in 2025 – represents a cumulative gain of 3.6 percentage points with no year recording a decline across the full reporting period.
Philip Kent, chief executive officer of MSIG Hong Kong, said: “In a year of rapid change, our teams have stayed close to our customers and continued to put forward products and services that have truly helped when it mattered most. That’s what a customer-first mindset is all about and the results are clear from this year’s claims report. From innovative travel protection to extraordinary claims servicing, we continue to invest in bringing unique-to-market product features to our customers as their trusted partner and are fully committed to further enhancing our service experience to deliver the assurance they need at every stage of their life journey.”
MSIG’s upward settlement trend runs counter to broader market conduct indicators. The Hong Kong Insurance Authority (IA) received 1,173 complaints in 2025, a 19.9% increase from 978 in 2024 – the highest volume since 2019 – according to its Conduct In Focus report. The IA closed 85% of complaints received in the first half of 2025 within six months, against its service pledge of at least 80%. Under the IA’s Guideline on the Corporate Governance of Authorised Insurers (GL10), insurers are expected to maintain effective governance frameworks and internal controls, including appropriate policies and procedures for handling customer complaints fairly and effectively. Legal commentary published in December 2025 highlighted that weaknesses in complaint handling processes may expose insurers to regulatory scrutiny and potential breaches of applicable requirements.
MSIG’s own complaint data shows a different trend. Its 2024 Claims Report recorded nine complaints during the year, down from 13 in 2023 and 50 in 2020. MSIG’s 2025 Claims Report does not disclose a full-year complaint count. The decline in reported complaints alongside the insurer’s improving claims settlement ratio provides an indication of its customer service performance, although the figures represent MSIG’s own disclosures and are not directly comparable with wider market conduct indicators.
Insurance professionals should note one structural constraint when using MSIG’s 94.7% for competitive benchmarking. The IA publishes gross claims paid and premium volumes by class, but does not produce a market-wide claims settlement ratio in the format used by individual insurers. A review of publicly accessible English-language reports from other Hong Kong general insurers found no equivalent claims settlement ratio published by peers. MSIG’s annual claims report – now in its seventh year – appears to be among the only voluntary public disclosure frameworks of this kind in the Hong Kong general insurance market.
MSIG’s Travel settlement ratio of 96.27% sits within a segment for which IA data provides partial context. In the first three quarters of 2024, travel business premiums in direct general insurance reached HK$1.5 billion within a total Accident & Health direct premium envelope of HK$18 billion, according to the IA’s Q3 2024 provisional statistics, published in January 2025. For full-year 2025, onshore Accident & Health direct business premiums – the class encompassing travel – reached HK$23.7 billion, a 10.8% year-on-year increase, per the IA’s April 2026 full-year release. The IA’s post-Risk-Based Capital (RBC) statistical reporting format no longer separately identifies travel insurance as a named sub-line within Accident & Health in its provisional releases. As a result, a precise 2025 market-level travel premium figure cannot be derived from publicly available IA statistics. In April 2025, MSIG launched a Door-to-Door Luggage Repair Service, processing 135 requests between April and December – representing 16% of all luggage damage claims in that period – alongside an Overseas Medical Teleconsultation service. In October 2025, MSIG updated its travel product suite to include a Cancellation of Journey for Any Reason provision.
Total gross premiums for Hong Kong’s general insurance business reached HK$108.5 billion in 2025, an 8% year-on-year increase, while total gross claims paid rose 4.5% to HK$55.4 billion. The overall operating profit for the segment was HK$11.4 billion, and total assets under general business reached HK$337.9 billion as of December 31, 2025, according to the IA’s provisional full-year statistics. The full 2025 Claims Report is available on MSIG Hong Kong’s website.
