Financial Institution in Hong Kong ndash; Insurance IndustryUnder ...课件.ppt

Financial Institution in Hong Kong – Insurance IndustryUnder Certain Regulations and Competition, how insurance companies compete with each other’s? 精品文档 Group Members List Li Wai Hang ( 033091 Galaxy ) Hung Oi Lun ( 033121 Ellen ) Yeun Wing Chi ( 033124 Chi ) Lee Yan Yan ( 033131 Kim ) Mak Ka Yi ( 033136 Joey ) Lai Po Shan ( 033146 QinVi ) Chiu Lok Yee ( 033199 Emily ) 精品文档 Agenda The development of insurance industry in HK Trend of insurance industries in Hong Kong Cases Noteworthy Points Conclusion MC 精品文档 The development of insurance industry in HK Established over 100 years Second large insurance market in Asia In the late 90’s, it has direct US$4.1billion investment in overseas There were 178 authorized insurers Gross premiums of grew to HK$121.9 billion in 2004, represent 9.6% of the GDP 精品文档 China Factor WTO Open the huge market to foreign insurers Expend their operations in the region including HK CEPA Global assets of over US$ 5 billion More than 30 years of experience Representative office established in the Mainland for 2 consecutive years Rise in maximum limit of capital 精品文档 MPF Transparency MPF Provide a huge amount of fund to insurers. Support the growth of them Transparency Linkage between Banking sector is closer The product is more complex Agent move from one firm to another 精品文档 Trend of insurance industries in Hong Kong 精品文档 Recovery in Economy The growth of the GDP and Per capital GDP 精品文档 Recovery in Economy (Con’t) Individual Life business is still the most dominant line of business ? the insurance industries will be benefited by the economic recovery continuously 精品文档 Recovery in Economy (Con’t) 精品文档 Higher sensitive to health The Accident and Health business recorded a premium growth of 1.6% The gross premiums increased from 4,336.5 millions in 2003 to 4,403.9 millions in 2004 The underwriting profit also increased from 267.8 millions in 2003 to 329.9 millions in 2004 精