Which insurance company has the highest market share?
State Farm
Top 10 Writers Of Private Passenger Auto Insurance By Direct Premiums Written, 2020
| Rank | Group/company | Market share (2) |
|---|---|---|
| 1 | State Farm | 16.2% |
| 2 | Berkshire Hathaway Inc. | 13.6 |
| 3 | Progressive Corp. | 13.3 |
| 4 | Allstate Corp. | 10.4 |
What is the market share of insurance?
The market share of private sector companies in the general and health insurance market increased from 47.97% in FY19 to 48.03% in FY20. In the life insurance segment, private players held a market share of 33.78% in premium underwritten services in FY20.
How many insurance companies are there in Hong Kong?
As at 30 September 2021, there were 165 authorized insurers in Hong Kong, of which 91 were pure general insurers, 54 were pure long term insurers, 19 were composite insurers and 1 was special purpose insurer.
How many insurance brokers are there in Hong Kong?
Q6 How many insurance brokers and agents are there in Hong Kong? As at 30 September 2021, there were 2,182 licensed insurance agencies, 88,328 licensed individual insurance agents and 26,223 licensed technical representatives (agent).
What is an insurance market?
insurance market. noun [ S ] INSURANCE, FINANCE. the business of buying and selling insurance, and the companies that are involved in it: They aim to stabilize the insurance market and increase competition so that insurance premiums can be lowered.
Who regulates insurance companies in Hong Kong?
The Insurance Authority
The Insurance Authority (IA), an independent statutory body, administers the Insurance Ordinance (Cap. 41) (IO) which provides the legal framework for the regulation of insurers and insurance intermediaries (agents and brokers) in Hong Kong.
How many banks are there in Hong Kong?
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies …
Who regulates insurance in Hong Kong?
The Insurance Authority (IA)
How many insurance agents are there in the world?
Of these, 1.5 million were employed with insurance companies, while the remaining 1.2 million were insurance agents or brokers, or they worked for other insurance-related enterprises.
What is the insurance market in Hong Kong?
Key Highlights The insurance market consists of the non-life and life insurance sectors. The value of the market is Read More the COVID-19 outbreak in the Hong Kong insurance industry.
What are the key performance indicators of the Hong Kong insurance industry?
… Hong Kong life insurance segment, and a comparison of the Hong Kong insurance industry with its regional counterparts. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total Read More.
What is Hong Kong life insurance segment?
Hong Kong life insurance segment, and a comparison of the Hong Kong insurance industry with its regional counterparts. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total Read More in Hong Kong.
Which is the best long term insurance company in Hong Kong 2018?
AIA Hong Kong has achieved No. 1 ranking in the first three quarters of 2018 in Annualised New Premiums, New Office Premiums and number of new policies, according to the provisional statistics on Hong Kong long term insurance business released by the Insurance Authority.