《大行》大摩:首季本港保費續強勁增長 競爭加劇
摩根士丹利發表報告,指出香港保險業監管局(HKIA)公佈2025年第一季保費數據。季度保費創歷史新高,市場競爭加劇,尤其是宏利(00945.HK)等公司通過經紀渠道加強業務。友邦(01299.HK)及保誠(02378.HK)雖錄得較穩健增長,但市場佔有率有所下降。
儘管2024年基數已高,2025年第一季,香港年度化保費等值(APE)達512億港元,按年增長25%,仍創歷史新高(次高爲2024年第一季的409億港元)。香港保監局未披露離岸或內地訪客數據,因正在進行全面檢討,但監於內地訪港旅客數量強勁,預計本地與離岸業務貢獻比例或維持相近水平。
展望2025年第二季,預計年度化APE增長將持續強勁,市場競爭可能維持激烈,因演示利率(illustration rate)已於6月底前下調至6.5%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.