The Hong Kong insurance industry recorded growth in total gross premiums during 2007 of over 26 percent, newly released figures reveal.

With growth led by increases in accident, health and property damage business, premiums collected totalled HK$197 billion (US$25 billion), so that they now make up over 12 percent of Hong Kong’s GDP.

Pecuniary loss business also recorded high premium growth, while compulsory classes including motor vehicle and employees’ compensation saw marked falls.

For more information, please click here to see the Press Release on Hong Kong Insurance Business Statistics 2007.