保駕護航：推動可持續發展及創新，鞏固香港作為全球重要保險樞紐的地位

Investment Rating - The report emphasizes the importance of Hong Kong as a leading global insurance hub and suggests a positive outlook for the industry, highlighting the need for sustainable development and innovation to maintain this status [6][10]. Core Insights - Hong Kong's insurance market is characterized by strong growth potential, robust profitability, and a favorable regulatory environment, making it an attractive location for international insurance companies [6][10]. - Despite challenges from the pandemic and interest rate fluctuations, the insurance sector in Hong Kong has shown resilience, with a notable recovery in 2022 [6][10]. - The report identifies key areas for development, including diversification across markets and business lines, increasing long-term asset supply, and exploring new growth areas to strengthen Hong Kong's position as a risk management center [7][10][20]. Summary by Sections Strengthening Hong Kong's Position as a Leading Global Insurance Hub - Hong Kong hosts 158 licensed insurance companies, including six of the world's top ten insurers, and the insurance sector contributes 3.5% to the local GDP in 2023 [10][12]. - The total gross premium in 2023 reached HKD 542.1 billion, ranking 15th globally [12]. Exploring Development Opportunities Amid Industry Challenges - The insurance industry in Hong Kong is heavily concentrated in life insurance and the mainland visitor market, which poses risks during market fluctuations [16][20]. - The demand for life insurance products, particularly from mainland visitors, is expected to continue growing post-pandemic [20]. Increasing Long-Term Asset Supply - In 2023, the effective premium for personal life insurance reached HKD 426.5 billion, accounting for 89.8% of the total effective long-term business premiums [25]. - There is a call for more diversified long-term bond issuance to support the insurance sector's investment strategies [26]. Exploring New Growth Areas - The report highlights the potential of insurance-linked securities and reinsurance as key areas for market diversification and growth [27][34]. - The development of insurance-linked securities is seen as a way to provide alternative capital sources and enhance risk management capabilities [28][31]. Policy Recommendations - Recommendations include creating a comprehensive roadmap for digital transformation, enhancing local stakeholders' capabilities in sustainable development reporting, and issuing more long-term bonds to optimize investment strategies [8][20].