Core Insights - The Hong Kong Insurance Authority reported a total gross premium of HKD 423.4 billion for the first half of 2025, with a significant increase in long-term business premiums [1] - Long-term effective business premiums reached HKD 365.0 billion, reflecting a year-on-year increase of 33.7% [1] - General business gross and net premiums were HKD 58.4 billion and HKD 39.9 billion, respectively, with total claims paid amounting to HKD 25.6 billion [1] Long-term Business - New policy premiums for long-term business (excluding retirement plans) amounted to HKD 173.7 billion, marking a 50% year-on-year increase [2] - Non-linked individual business contributed HKD 166.6 billion, up 49.7%, with HKD 149.9 billion from participating business and HKD 16.7 billion from other business [2] - Claims and benefits paid totaled HKD 1,919 billion, reflecting a 4.5% increase year-on-year [2] General Business - General business gross and net premiums were HKD 58.4 billion and HKD 39.9 billion, with total claims paid of HKD 25.6 billion [3] - Direct business gross and net premiums were HKD 30.7 billion and HKD 21.0 billion, with claims paid amounting to HKD 13.8 billion [3] - The main contributors to gross premiums were accident and health business, general liability (including employee compensation), and property damage business, contributing HKD 14.0 billion, HKD 6.8 billion, and HKD 3.5 billion, respectively [3]

Group 1: Overall Premiums and Business Performance - The total gross premium for Q1 2025 reached $220.3 billion, with a significant increase in long-term effective business premiums, totaling $189.1 billion, up 31.1% year-on-year [1] - The breakdown of long-term business premiums includes $169 billion from non-linked individual business (up 29.5%), $6.2 billion from linked business (up 23.4%), and $11.7 billion from retirement plans (up 73.2%) [1] - Claims and benefits paid to policyholders totaled $94.3 billion, reflecting a decrease of 7.4% [1] Group 2: General Business Performance - For direct general business, gross and net premiums were $17.1 billion and $11.3 billion, respectively, with total claims paid amounting to $6.7 billion [2] - The gross premiums for accident and health business, general liability (including employee compensation), and marine, aviation, and transport business were $8 billion, $3.3 billion, and $2.2 billion, respectively [2] - Overall underwriting profit reached $1.1 billion, primarily driven by general liability (including employee compensation), money loss business, and accident and health business [2] Group 3: Reinsurance Business - In the reinsurance sector, gross and net premiums were recorded at $14.1 billion and $9.3 billion, with total claims paid amounting to $5.5 billion [2] - The gross premiums mainly originated from property damage, accident and health, and general liability businesses [2] - The overall underwriting loss was $200 million, primarily due to general liability and automobile businesses [2]