Hong Kong to review medical insurance, Greater Bay Area options amid costlier healthcare

Quick Summary:

Medical insurance in Hong Kong is a loss-making business even though sales have been growing over the past few years, regulator says.

Insurance companies collected HK$10.2 billion (US$1.3 billion) in gross premiums on medical policies in the first half of 2024, according to the Insurance Authority, incurring an underwriting loss of HK$357 million.The premiums rose 7.5 per cent in 2023 to HK$16.2 billion, while underwriting loss swelled 144 per cent to HK$856 million.

This proportion is projected to rise to 36 per cent in 2047, he added, heaping pressure on the city’s healthcare system.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong Kong

Topics: Review Healthcare Million Years Insurance City’s Medical Authority Cent Friday Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-17 @ 07:30:12 (6 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 233 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 26206153

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