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    Viktoria Morris
    May 12

    Startup profitability statistics in HK

    in General Discussions

    More Hong Kongers are starting to act upon their future, instead of just worrying about it. This has been evident in Hong Kong’s Insurance Authority’s annual report with the Individual Life business remaining to be the dominant line in the business, making up HK$458.5b or around 87.9% of total long-term business. The report also saw a modest rise in total office premiums for in-force long-term business by 2% to HK$521.4b in 2020.


    What probably slowed down the long-term business is the 20.9% decrease in office premiums for new individual life business to HK$119.6b in 2020, including HK$106.8b from Individual Life (NonLinked) business and HK$12.7b from Linked business, which recorded a decrease of 23.4% and an increase of 8.8%, respectively. The total number of new policies decreased by 20.8% to 1 million in 2020. Office premiums for the new Individual Annuity business decreased by 36.3% to HK$13.3b.


    Meanwhile, the general insurance market performed admirably despite the considerable challenges in the past two years. Total gross written premiums recorded a growth rate of 8% to HK$59.8b in 2020. Overall underwriting profit hit HK$2.3b, a major increase from HK$869m in 2019.

    3 comments
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    3 Comments
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    Geff Rush
    Jul 04

    Nice app. I have experience in use mvp development services Its not easy process of its develop and implementing. The number of MVP development steps and their duration will vary depending on the complexity and novelty of software and a type of a minimum viable product. An MVP (Minimum Viable Product) is an important step in the software development process that allows you to preview and test the product to make necessary adjustments before actually releasing the final version with all features.

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    F
    Freya Kawaki
    Jul 04

    sounds great. You can start own business too. Website development offers numerous advantages – increased mobile traffic, faster mobile development at lower costs, improved search engine optimization, good branding, improved online and offline browsing experience. Small businesses also have great opportunities to grow them in less time using the website development technology wisely.

    Like

    D
    Damian Harrison
    May 12

    These opportunities are actually very relevant for those who are planning to start a digital business. I know several European IT businessmen who started the process to register a company, read my review here. I did not talk to them about specific numbers, but I understood that things are going well))

    Like
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