Hong Kong insurance sector to sustain growth

S&P rates the sector as stable for 2004-2005.

Hong Kong's insurance industry is poised for a sustained period of relative stability, according to international rating agency, Standard Poor's. Despite the perennial threat of earnings pressure, low interest rates and volatile investment markets, SP expects the sector to achieve satisfactory growth through to 2005. According to its findings, the ratings agency predicts that the drivers that will characterize the sector's growth are related to the low insurance penetration numbers on the life side and improved pricing and reserving within the non-life sector.

The report entitled 'Hong Kong Insurance Outlook 2004-2005' emphasizes that the SAR's insurance sector has weathered the potentially shattering blow characterized by intense competition, volatile investment...

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