Delhi, India (PressExposure) May 16, 2009 -- According to our new research report âHong Kong Insurance Market to 2013", with rising demand for accident & health, motor and liability insurance, general insurance premiums are projected to grow at a CAGR of close to 13% during 2009-2013.
Our research has found that accident & health insurance will continue to be an important contributor to general insurance business in Hong Kong. By premium, it accounts for over one -quarter of general insurance business in the country and is expected to grow at a CAGR of nearly 16% during 2009-2013. People in Hong Kong have started buying medical insurance protection as a supplement to public medical service. Although Hong Kong has one of the best public medical services in the world, an aging population, rising medical costs and funding issue for public healthcare have created huge demand for private medical protection.
Moreover, there has been no negative impact of economic crisis on the property insurance business in the country as people are more concerned about the safety of their personal assets. Property damage insurance premium accounted for over 21% of general insurance premium in 2008. We estimate that the market will grow at a CAGR of over 7% between 2009 and 2013.
âHong Kong Insurance Market to 2013" is a comprehensive research report that comprises of quality research and in-depth analysis of the insurance market in Hong Kong. It studies the emerging market trends, recent developments and their impact on the market. The report also helps clients to analyze the leading-edge opportunities, prospective customer base, key players, future outlook and all the other factors which are critical for the success of a new entrant in the insurance industry.
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