Hong Kong's gross premiums rise 16.1% in first quarter

Due to a growing number of mainland customers, Hong Kong's total gross premiums amounted to 94.8 billion HK dollars (12.23 U.S. dollars) in the first quarter of 2015, representing an increase of 16.1 percent year on year.

In the first quarter, gross and net premiums of general insurance business recorded a growth of 3.1 percent to 12.9 billion HK dollars and 4.4 percent to 9.1 billion HK dollars, respectively.

On direct business, gross and net premiums jumped by 4.8 percent to 10.2 billion HK dollars and 5 percent to 7.5 billion HK dollars, respectively.

In respect of policies issued to mainland visitors, new office premiums amounted to 6.8 billion HK dollars, accounting for 18.7 percent of the total new office premiums for individual business during the period.