Hong Kong (HSI) Insurance Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 08 Jul 2026	HK$2.8t	HK$2.4t	HK$361.2b	6.3x	7.6x	1.2x
Fri, 05 Jun 2026	HK$2.7t	HK$2.4t	HK$361.8b	6.1x	7.3x	1.1x
Sun, 03 May 2026	HK$2.9t	HK$2.4t	HK$359.6b	6.2x	8x	1.2x
Tue, 31 Mar 2026	HK$2.9t	HK$2.3t	HK$372.8b	6.4x	7.7x	1.2x
Thu, 26 Feb 2026	HK$3.3t	HK$2.3t	HK$376.0b	9.5x	8.8x	1.4x
Sat, 24 Jan 2026	HK$3.2t	HK$2.3t	HK$370.7b	9.2x	8.7x	1.4x
Mon, 22 Dec 2025	HK$3.2t	HK$2.3t	HK$366.4b	8.6x	8.8x	1.4x
Wed, 19 Nov 2025	HK$3.1t	HK$2.3t	HK$363.6b	9.1x	8.4x	1.4x
Fri, 17 Oct 2025	HK$3.0t	HK$2.2t	HK$289.0b	8.8x	10.3x	1.4x
Sun, 14 Sep 2025	HK$2.9t	HK$2.2t	HK$288.8b	8.8x	10.2x	1.4x
Tue, 12 Aug 2025	HK$2.9t	HK$2.1t	HK$291.8b	10.4x	9.8x	1.4x
Thu, 10 Jul 2025	HK$2.7t	HK$2.1t	HK$291.9b	9.3x	9.3x	1.3x
Sat, 07 Jun 2025	HK$2.6t	HK$2.1t	HK$291.5b	7.9x	9x	1.3x
Mon, 05 May 2025	HK$2.3t	HK$2.0t	HK$283.0b	8.3x	8.2x	1.1x
Wed, 02 Apr 2025	HK$2.4t	HK$2.0t	HK$274.4b	7.9x	8.6x	1.2x
Fri, 28 Feb 2025	HK$2.4t	HK$2.5t	HK$221.6b	8.2x	10.9x	1x
Sun, 26 Jan 2025	HK$2.3t	HK$2.5t	HK$222.6b	7.4x	10.5x	0.9x
Tue, 24 Dec 2024	HK$2.3t	HK$2.5t	HK$220.8b	7.3x	10.6x	0.9x
Thu, 21 Nov 2024	HK$2.5t	HK$2.5t	HK$222.5b	7.7x	11.1x	1x
Sat, 19 Oct 2024	HK$2.6t	HK$2.5t	HK$142.8b	8.8x	17.9x	1x
Mon, 16 Sep 2024	HK$2.1t	HK$2.5t	HK$143.5b	7.6x	14.4x	0.8x
Wed, 14 Aug 2024	HK$1.9t	HK$2.4t	HK$118.8b	8.5x	16x	0.8x
Fri, 12 Jul 2024	HK$1.9t	HK$2.4t	HK$117.9b	7.7x	16.2x	0.8x
Sun, 09 Jun 2024	HK$2.0t	HK$2.4t	HK$118.1b	8.5x	16.9x	0.8x
Tue, 07 May 2024	HK$2.0t	HK$2.4t	HK$118.6b	8x	17.3x	0.9x
Thu, 04 Apr 2024	HK$1.9t	HK$2.4t	HK$124.3b	8.4x	15.2x	0.8x
Sat, 02 Mar 2024	HK$2.0t	HK$2.9t	HK$92.5b	7.5x	22x	0.7x
Mon, 29 Jan 2024	HK$2.0t	HK$2.9t	HK$92.9b	7.2x	21.5x	0.7x
Wed, 27 Dec 2023	HK$2.7t	HK$4.5t	HK$179.0b	6.9x	15x	0.6x
Fri, 24 Nov 2023	HK$3.0t	HK$4.5t	HK$184.5b	7.9x	16.2x	0.7x
Sun, 22 Oct 2023	HK$3.0t	HK$4.4t	HK$191.6b	8.1x	15.7x	0.7x
Tue, 19 Sep 2023	HK$3.2t	HK$4.4t	HK$191.9b	8.6x	16.4x	0.7x
Thu, 17 Aug 2023	HK$3.2t	HK$4.2t	HK$206.8b	8.8x	15.4x	0.8x
Sat, 15 Jul 2023	HK$3.3t	HK$4.2t	HK$211.0b	9.1x	15.9x	0.8x

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 7.6x which is lower than its 3-year average PE of 12.6x.

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 20% per year over the last three years.
Meanwhile revenues for these companies have declined 18% 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 Market	1.04%
Financials	0.40%
Insurance	4.38%
General Insurance	6.15%
Property and Casualty Insurance	4.86%
Life and Health Insurance	4.31%
Insurance Brokers	0%	0
Reinsurance	0%	0

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 13.5%, 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 below its 3-year average of 5.0x.

Forecasted Growth

Analysts are most optimistic on the General Insurance industry, expecting annual earnings growth of 14% over the next 5 years.
However this is lower than its past earnings growth rate of 73% per year.

In contrast, the Property and Casualty Insurance industry is expected to see its earnings grow by 5.9% per year over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation
2628 China Life Insurance	HK$29.06	9.0% +HK$67.8b	60.9%	PE4.9x
1299 AIA Group	HK$73.70	3.1% +HK$23.3b	7.6%	PE15.6x
1339 People's Insurance Company (Group) of China	HK$5.07	8.1% +HK$16.8b	-10.1%	PE4.6x
2328 PICC Property and Casualty	HK$14.88	3.9% +HK$12.5b	0.7%	PE7.1x
6963 Sunshine Insurance Group	HK$3.68	8.2% +HK$3.2b	16.5%	PE5.8x

Company

Last Price

Valuation

2628 China Life Insurance

HK$29.06

9.0%
+HK$67.8b

60.9%

PE4.9x

1299 AIA Group

HK$73.70

3.1%
+HK$23.3b

7.6%

PE15.6x

1339 People's Insurance Company (Group) of China

HK$5.07

8.1%
+HK$16.8b

-10.1%

PE4.6x

2328 PICC Property and Casualty

HK$14.88

3.9%
+HK$12.5b

0.7%

PE7.1x

6963 Sunshine Insurance Group

HK$3.68

8.2%
+HK$3.2b

16.5%

PE5.8x

Announcement • May 30

Zhongmiao Holdings (Qingdao) Co., Ltd. Announces Management Changes

Zhongmiao Holdings (Qingdao) Co., Ltd. announced at annual general meeting held on May 28, 2026, reference is made to the Circular. Mr. Zhang Zhiquan ("Mr. Zhang") had informed the Board that he would not seek election as a candidate for the second session of the Board and would retire as an executive Director after the conclusion of the AGM, due to his personal work adjustments. Following the conclusion of the AGM, Mr. Zhang has retired from office as an executive Director. Ms. Ng Sin Kiu ("Ms. Ng") had informed the Board that she would not seek election as a candidate for the second session of the Board and would retire as an independent non- executive Director, a member of the audit committee (the "Audit Committee") and a member of the nomination committee of the Company (the "Nomination Committee") after the conclusion of the AGM, due to her personal work adjustments. Following the conclusion of the AGM, Ms. Ng had retired from office as an independent non-executive Director. The Board announced that following the conclusion of the AGM, (i) Mr. Sui Shichao ("Mr. Sui") has been appointed as an executive Director; and (ii) Mr. Wu Jiayao ("Mr. Wu") has been appointed as an independent non-executive Director. Following (i) the retirement of Ms. Ng as an independent non-executive Director, a member of the Audit Committee and a member of the Nomination Committee; and (ii) the appointment of Mr. Wu as an independent non-executive Director, the Board further announces that Mr. Wu has been appointed as a member of the Audit Committee and a member of the Nomination Committee with effect from the conclusion of the AGM. The Board announced that the proposed amendments to the Articles of Association and the abolishment of the Supervisory Committee were approved by the Shareholders at the AGM. Accordingly, Mr. Zhu Rongwei, Ms. Wang Jiesi and Ms. Wang Yangyang, being the supervisors of the Company (Supervisors) has tendered their resignations to the Company. The Company will no longer have any supervisor or the Supervisory Committee and the relevant corporate governance systems of the Supervisory Committee such as the Procedural Rules of the Supervisory Committee of Zhongmiao Holdings (Qingdao) Co., Ltd. will be repealed simultaneously. Each of the Supervisors has confirmed that he/she has no disagreement with the Board and Supervisory Committee, and that there is no other matter in relation to his/her resignation that needs to be brought to the attention of the Shareholders.

Hong Kong (HSI) Insurance Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

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