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Hong Kong (HSI) Insurance Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies14
  • 7D1.5%
  • 3M12.3%
  • 1Y69.8%
  • YTD5.7%

In the last week, the Insurance industry is up 1.9%, with AIA Group up 2.5%. This takes the industry's 12 month performance to a gain of 70%. As for the next few years, earnings are forecast to decline by 6.8% per annum.

Industry Valuation and Performance

Has the Hong Kong Insurance Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026HK$3.3tHK$2.3tHK$374.1b9.6x8.9x1.4x
Mon, 19 Jan 2026HK$3.3tHK$2.3tHK$370.4b8.9x8.9x1.4x
Wed, 17 Dec 2025HK$3.1tHK$2.3tHK$366.3b8.4x8.5x1.4x
Fri, 14 Nov 2025HK$3.2tHK$2.3tHK$363.6b9.6x8.9x1.4x
Sun, 12 Oct 2025HK$2.9tHK$2.2tHK$289.1b8.4x10x1.3x
Tue, 09 Sep 2025HK$2.9tHK$2.2tHK$289.0b8.5x10x1.3x
Thu, 07 Aug 2025HK$2.9tHK$2.1tHK$291.7b10.4x9.9x1.4x
Sat, 05 Jul 2025HK$2.8tHK$2.1tHK$292.5b9.5x9.5x1.3x
Mon, 02 Jun 2025HK$2.5tHK$2.1tHK$290.8b7.9x8.8x1.2x
Wed, 30 Apr 2025HK$2.2tHK$2.0tHK$272.8b7.9x8.2x1.1x
Fri, 28 Mar 2025HK$2.4tHK$2.0tHK$257.7b8.6x9.2x1.2x
Sun, 23 Feb 2025HK$2.4tHK$2.5tHK$221.9b7.8x10.6x0.9x
Tue, 21 Jan 2025HK$2.3tHK$2.5tHK$220.8b7.3x10.2x0.9x
Thu, 19 Dec 2024HK$2.4tHK$2.5tHK$221.1b7.5x10.6x0.9x
Sat, 16 Nov 2024HK$2.5tHK$2.5tHK$222.9b7.5x11x1x
Mon, 14 Oct 2024HK$2.6tHK$2.5tHK$143.3b8.7x17.9x1x
Wed, 11 Sep 2024HK$2.0tHK$2.5tHK$143.1b7.4x14.3x0.8x
Fri, 09 Aug 2024HK$1.9tHK$2.4tHK$118.8b8.5x15.9x0.8x
Sun, 07 Jul 2024HK$1.9tHK$2.4tHK$117.9b7.7x15.7x0.8x
Tue, 04 Jun 2024HK$2.0tHK$2.4tHK$118.3b8.4x17.1x0.9x
Thu, 02 May 2024HK$2.0tHK$2.4tHK$118.3b8.2x16.6x0.8x
Sat, 30 Mar 2024HK$1.9tHK$2.4tHK$120.5b7.3x15.4x0.8x
Mon, 26 Feb 2024HK$2.1tHK$2.9tHK$92.4b7.8x22.8x0.7x
Wed, 24 Jan 2024HK$1.9tHK$2.9tHK$92.7b7.1x20x0.6x
Fri, 22 Dec 2023HK$2.7tHK$4.5tHK$178.8b7x14.9x0.6x
Sun, 19 Nov 2023HK$3.0tHK$4.5tHK$182.8b7.7x16.2x0.7x
Tue, 17 Oct 2023HK$3.2tHK$4.4tHK$191.9b8.6x16.6x0.7x
Thu, 14 Sep 2023HK$3.2tHK$4.5tHK$192.7b8.5x16.5x0.7x
Sat, 12 Aug 2023HK$3.3tHK$4.2tHK$208.3b9.2x15.8x0.8x
Mon, 10 Jul 2023HK$3.2tHK$4.2tHK$208.8b9.1x15.6x0.8x
Wed, 07 Jun 2023HK$3.5tHK$4.3tHK$212.2b9.5x16.3x0.8x
Fri, 05 May 2023HK$3.8tHK$4.4tHK$216.6b10.4x17.6x0.9x
Sun, 02 Apr 2023HK$3.3tHK$4.3tHK$200.4b9.8x16.5x0.8x
Tue, 28 Feb 2023HK$3.5tHK$4.3tHK$247.2b7.2x14x0.8x
Price to Earnings Ratio

14x


Total Market Cap: HK$3.5tTotal Earnings: HK$247.2bTotal Revenue: HK$4.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Insurance Industry Price to Earnings3Y Average 13.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Hong Kong Insurance industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 8.9x which is lower than its 3-year average PE of 13.6x.
  • The 3-year average PS ratio of 0.97x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 15% per year over the last three years.
  • Meanwhile revenues for these companies have declined 19% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Hong Kong Financials industry?

HK Market0.35%
Financials0.61%
Insurance1.54%
Life and Health Insurance1.75%
Property and Casualty Insurance1.35%
Insurance Brokers0%0
General Insurance-1.15%
Reinsurance-1.83%
Industry PE
  • Investors are most optimistic about the General Insurance industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 5.0%, which is higher than its past year's earnings growth of 2.3% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading close to its 3-year average of 5.6x.
Forecasted Growth
  • Analysts are most optimistic on the Reinsurance industry, expecting annual earnings growth of 5.6% over the next 5 years.
  • However this is lower than its past earnings growth rate of 18% per year.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings decline by 10% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
1299 AIA GroupHK$82.302.5%
+HK$21.0b		41.9%PE18.3x
2628 China Life InsuranceHK$33.561.5%
+HK$13.6b		120.8%PE4.9x
1339 People's Insurance Company (Group) of ChinaHK$6.752.9%
+HK$8.4b		67.1%PE5x
966 China Taiping Insurance HoldingsHK$24.261.1%
+HK$934.4m		98.9%PE10.7x
2661 QingSong HealthHK$81.752.3%
+HK$371.5m		n/aPE185.3x

Latest News

6060
HK$15.91
ZhongAn Online P & C Insurance
7D
-1.3%
1Y
6.1%

6060: Lower Discount Rate And Stable Margins Will Support Further Upside Potential

Analysts have slightly raised their price target for ZhongAn Online P & C Insurance to around HK$23.75 from about HK$23.75, reflecting minor adjustments to the discount rate, revenue growth expectations, profit margin and future P/E assumptions. What's in the News A board meeting is scheduled for March 19, 2026 to consider and approve the Group's final results for the year ended December 31, 2025.
1339
HK$6.75
People's Insurance Company (Group) of China
7D
2.9%
1Y
67.1%

1339: Fairly Valued Outlook Will Rely On Margin Resilience And Lower Discount Rate

Analysts have lifted their HK$ price target for People's Insurance Company (Group) of China to reflect a fair value revision from HK$4.97 to HK$7.04, supported by updated assumptions around the discount rate, revenue growth, profit margin, and future P/E. Valuation Changes Fair Value: HK$4.97 to HK$7.04, indicating a higher assessed valuation level in the latest update.
1299
HK$82.30
AIA Group
7D
2.5%
1Y
41.9%

1299: Higher Future P/E Multiple Will Support Upside Potential

Analysts have slightly raised their fair value estimate for AIA Group from HK$99.80 to HK$100.20, citing updated assumptions on the discount rate, revenue trends, profit margin, and a higher future P/E multiple. Valuation Changes Fair Value: HK$99.80 to HK$100.20, a very small upward adjustment in the modelled estimate.
2628
HK$33.56
China Life Insurance
7D
1.5%
1Y
120.8%

2628: Future Agreements And Stable Metrics Will Support Measured Shareholder Outcomes

Analysts have raised their fair value estimate for China Life Insurance from roughly ¥31.06 to about ¥32.70, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E levels. What's in the News China Life Insurance has scheduled a special or extraordinary shareholders meeting for December 30, 2025, at 09:30 China Standard Time at the Multi function Hall, 2/F, Block A, China Life Plaza, 16 Financial Street, Xicheng District, Beijing (Key Developments).
1471
HK$28.82
Zhongmiao Holdings (Qingdao)
7D
-9.1%
1Y
132.8%
2328
HK$16.51
PICC Property and Casualty
7D
-0.4%
1Y
24.9%

2328: Fair Outlook Will Rely On Reinsurance Frameworks And Dividend Support

Analysts have nudged their fair value estimate for PICC Property and Casualty to about ¥15.74 per share from roughly ¥15.72, reflecting updated views on discount rate assumptions, slightly higher projected revenue growth and profit margins, and a modestly lower future P/E multiple. What's in the News PICC Property and Casualty signed a one year Reinsurance Framework Agreement with PICC Reinsurance, effective from 1 January 2026 to 31 December 2026.
1508
HK$1.61
China Reinsurance (Group)
7D
-1.8%
1Y
73.1%

1508: Governance Overhaul And Tai Po Fire Support Will Pressure Shares

Analysts have raised their price target for China Reinsurance (Group), citing a higher assessed fair value, a lower discount rate of 8.05%, and updated assumptions for revenue growth, a profit margin of 11.23%, and a future P/E of 5.13x as key drivers of the change. What's in the News A board meeting is scheduled for January 30, 2026 to consider the nomination of Mr. Lyu Zhi as a non executive director candidate for the fifth session of the board, along with other matters (Board Meeting).
6963
HK$4.13
Sunshine Insurance Group
7D
-0.2%
1Y
42.9%
966
HK$24.26
China Taiping Insurance Holdings
7D
1.1%
1Y
98.9%

China Taiping Insurance Holdings Company Limited (HKG:966) Stock Rockets 28% But Many Are Still Ignoring The Company

Jan 27
China Taiping Insurance Holdings Company Limited (HKG:966) Stock Rockets 28% But Many Are Still Ignoring The Company
662
HK$4.87
Asia Financial Holdings
7D
-0.2%
1Y
24.9%
2621
HK$3.45
Shouhui Group
7D
-1.1%
1Y
n/a
2661
HK$81.75
QingSong Health
7D
2.3%
1Y
n/a
376
HK$3.16
Yunfeng Financial Group
7D
1.9%
1Y
167.8%

Yunfeng Financial Group Limited (HKG:376) Shares May Have Slumped 28% But Getting In Cheap Is Still Unlikely

Nov 02
Yunfeng Financial Group Limited (HKG:376) Shares May Have Slumped 28% But Getting In Cheap Is Still Unlikely
222
HK$3.39
Min Xin Holdings
7D
3.4%
1Y
56.2%
1828
HK$38.10
FWD Group Holdings
7D
0.3%
1Y
n/a