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Hong Kong (HSI) Insurance Industry Analysis

UpdatedAug 23, 2026
DataAggregated Company Financials
Companies14
  • 7D5.0%
  • 3M-4.5%
  • 1Y-2.1%
  • YTD-9.3%

In the last week, the Insurance industry is up 5.0%, with AIA Group up 6.7%. During this same period, the Baige Online Digital Technology underperformed, falling 11%. The industry has been flat over the past 12 months despite the gain this week. Earnings are forecast to grow by 3.7% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 23 Aug 2026HK$2.8tHK$2.4tHK$378.0b6.5x7.4x1.2x
Tue, 21 Jul 2026HK$2.9tHK$2.4tHK$362.2b6.3x7.9x1.2x
Thu, 18 Jun 2026HK$2.8tHK$2.4tHK$362.5b6.5x7.7x1.2x
Sat, 16 May 2026HK$2.9tHK$2.4tHK$360.3b6.5x8.1x1.2x
Mon, 13 Apr 2026HK$3.0tHK$2.4tHK$374.7b6.6x8x1.3x
Wed, 11 Mar 2026HK$3.2tHK$2.3tHK$376.0b8.8x8.4x1.4x
Fri, 06 Feb 2026HK$3.4tHK$2.3tHK$372.3b9.7x9.1x1.5x
Sun, 04 Jan 2026HK$3.2tHK$2.3tHK$369.0b8.6x8.7x1.4x
Tue, 02 Dec 2025HK$3.1tHK$2.3tHK$365.4b8.4x8.4x1.4x
Thu, 30 Oct 2025HK$3.1tHK$2.2tHK$289.8b8.9x10.7x1.4x
Sat, 27 Sep 2025HK$2.8tHK$2.2tHK$288.3b8x9.7x1.3x
Mon, 25 Aug 2025HK$3.0tHK$2.1tHK$286.0b11.7x10.6x1.4x
Wed, 23 Jul 2025HK$2.8tHK$2.1tHK$292.0b9.8x9.5x1.3x
Fri, 20 Jun 2025HK$2.6tHK$2.1tHK$291.5b8x9x1.2x
Sun, 18 May 2025HK$2.5tHK$2.1tHK$287.2b8x8.9x1.2x
Tue, 15 Apr 2025HK$2.2tHK$2.0tHK$272.3b7.6x8.1x1.1x
Thu, 13 Mar 2025HK$2.4tHK$2.5tHK$222.2b8.5x10.7x0.9x
Sat, 08 Feb 2025HK$2.3tHK$2.5tHK$221.6b7.7x10.4x0.9x
Mon, 06 Jan 2025HK$2.3tHK$2.5tHK$220.5b7.2x10.3x0.9x
Wed, 04 Dec 2024HK$2.4tHK$2.5tHK$221.5b7.6x11x1x
Fri, 01 Nov 2024HK$2.5tHK$2.5tHK$156.9b8.7x15.9x1x
Sun, 29 Sep 2024HK$2.5tHK$2.5tHK$144.1b8.3x17.1x1x
Tue, 27 Aug 2024HK$2.0tHK$2.4tHK$127.8b8.4x15.8x0.8x
Thu, 25 Jul 2024HK$1.9tHK$2.4tHK$117.8b8.3x16.1x0.8x
Sat, 22 Jun 2024HK$2.0tHK$2.4tHK$117.8b8.4x16.6x0.8x
Mon, 20 May 2024HK$2.2tHK$2.4tHK$118.3b8.8x18.3x0.9x
Wed, 17 Apr 2024HK$1.8tHK$2.4tHK$124.3b8.2x14.2x0.7x
Fri, 15 Mar 2024HK$2.0tHK$2.9tHK$92.5b7.1x21.6x0.7x
Sun, 11 Feb 2024HK$2.0tHK$2.9tHK$92.8b7x21.7x0.7x
Tue, 09 Jan 2024HK$2.6tHK$4.5tHK$178.4b7.2x14.6x0.6x
Thu, 07 Dec 2023HK$2.7tHK$4.5tHK$178.4b7.2x15.1x0.6x
Sat, 04 Nov 2023HK$3.0tHK$4.4tHK$181.1b7.9x16.6x0.7x
Mon, 02 Oct 2023HK$3.1tHK$4.4tHK$192.1b8.3x16.3x0.7x
Wed, 30 Aug 2023HK$3.2tHK$4.4tHK$202.2b8.2x15.8x0.7x
Price to Earnings Ratio

15.8x


Total Market Cap: HK$3.2tTotal Earnings: HK$202.2bTotal Revenue: HK$4.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Insurance Industry Price to Earnings3Y Average 12.2x202420252026
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 7.4x which is lower than its 3-year average PE of 12.2x.
  • The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Insurance industry have grown 23% 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 Market3.64%
Financials4.81%
Insurance4.99%
Reinsurance6.25%
Life and Health Insurance5.14%
Property and Casualty Insurance4.65%
Insurance Brokers0%0
General Insurance-0.47%
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 13.0%, which is lower than the prior year's growth of 72.6% per year.
  • Investors are most pessimistic about the Reinsurance industry, which is trading close to its 3-year average of 4.7x.
Forecasted Growth
  • Analysts are most optimistic on the General Insurance industry, expecting annual earnings growth of 13% over the next 5 years.
  • However this is lower than its past earnings growth rate of 73% per year.
  • In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 2.6% 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$75.156.7%
+HK$47.7b		3.2%PE12.4x
2628 China Life InsuranceHK$28.064.7%
+HK$35.6b		13.2%PE4.7x
2328 PICC Property and CasualtyHK$16.095.1%
+HK$17.3b		-12.8%PE7.6x
1339 People's Insurance Company (Group) of ChinaHK$5.284.2%
+HK$9.5b		-22.8%PE4.7x
1508 China Reinsurance (Group)HK$1.286.3%
+HK$3.2b		-28.4%PE4.8x

Latest News

1299
HK$75.15
AIA Group
7D
6.7%
1Y
3.2%
2628
HK$28.06
China Life Insurance
7D
4.7%
1Y
13.2%
2328
HK$16.09
PICC Property and Casualty
7D
5.1%
1Y
-12.8%
6963
HK$3.40
Sunshine Insurance Group
7D
1.2%
1Y
-24.2%
2672
HK$63.45
Baige Online Digital Technology
7D
-11.4%
1Y
n/a
1508
HK$1.28
China Reinsurance (Group)
7D
6.3%
1Y
-28.4%
Narrative Update • Aug 14

1508: Dividend Payouts And Board Changes Will Guide Balanced Future Returns

Analysts have trimmed their price target on China Reinsurance (Group) to HK$1.30 from HK$1.41, reflecting updated views on slightly higher expected revenue, a lower profit margin outlook, a modestly adjusted fair value estimate and a marginally lower future P/E assumption. What’s in the News for China Reinsurance (Group) China Reinsurance (Group) plans a board meeting on May 29, 2026 to consider the nomination of Zhang Xueyong as an independent non executive director candidate for the fifth session of the board.
662
HK$4.67
Asia Financial Holdings
7D
-1.6%
1Y
3.5%
1471
HK$8.89
Zhongmiao Holdings (Qingdao)
7D
-0.2%
1Y
-32.7%
222
HK$2.78
Min Xin Holdings
7D
-7.9%
1Y
-12.0%
966
HK$20.52
China Taiping Insurance Holdings
7D
1.2%
1Y
9.1%
6060
HK$10.52
ZhongAn Online P & C Insurance
7D
-0.2%
1Y
-48.3%
1828
HK$28.00
FWD Group Holdings
7D
-3.1%
1Y
-26.5%
1339
HK$5.28
People's Insurance Company (Group) of China
7D
4.2%
1Y
-22.8%
Narrative Update • Jul 06

1339: Higher Margins And Earnings Multiple Reset Will Support Future Re Rating

Analysts have trimmed their price target on People's Insurance Company (Group) of China to HK$8.92 from HK$9.87, reflecting a slightly higher discount rate, more moderate revenue growth assumptions, an improved profit margin outlook, and a lower future P/E multiple. What's in the News People's Insurance Company (Group) of China has scheduled a board meeting for April 29, 2026, to review and approve the unaudited first quarterly results for the period ended March 31, 2026.
376
HK$1.80
Yunfeng Financial Group
7D
11.5%
1Y
-41.7%