Hong Kong Insurance Tenders

The Hong Kong insurance market is one of the most developed and sophisticated in Asia. It is characterized by a high degree of competition, a wide range of products and services, and a strong regulatory framework. The total gross premiums of the Hong Kong insurance industry reached $538.0 billion in 2022.

The Hong Kong government is a major purchaser of insurance products and services. In 2022, the government spent $5.8 billion on insurance, accounting for 2.2% of its total procurement expenditure. The government procures insurance for a wide range of risks, including property, liability, health, and life insurance.

The main insurance products and services procured by the Hong Kong government include:
Property insurance: This covers the government's buildings and other assets against damage or loss.
Liability insurance: This protects the government against claims of legal liability arising from its activities.
Health insurance: This provides coverage for the government's employees and their dependents.
Life insurance: This provides death benefits and other benefits to the government's employees and their dependents.

The top authorities for Hong Kong insurance procurement are:
The Government Logistics Department (GLD) is responsible for the procurement of insurance for the government's non-departmental public bodies.
The Hospital Authority (HA) is responsible for the procurement of insurance for its hospitals and other healthcare facilities.
The Education Bureau (EDB) is responsible for the procurement of insurance for its schools and other educational institutions.

The top winners of Hong Kong insurance procurement in 2022 were:
AIA Insurance Company Limited (AIA)
China Life Insurance Company Limited (China Life)
Manulife International Holdings Limited (Manulife)
Prudential Corporation Asia Limited (Prudential)
Zurich Insurance Company Limited (Zurich)

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