摩根士丹利发表报告，指出香港保险业监管局(HKIA)公布2025年第一季保费数据。季度保费创历史新高，市场竞争加剧，尤其是宏利(00945.HK) 等公司通过经纪渠道加强业务。友邦(01299.HK) 及保诚(02378.HK) 虽录得较稳健增长，但市场占有率有所下降。
尽管2024年基数已高，2025年第一季，香港年度化保费等值(APE)达512亿港元，按年增长25%，仍创历史新高(次高为2024年第一季的409亿港元)。香港保监局未披露离岸或内地访客数据，因正在进行全面检讨，但鉴于内地访港旅客数量强劲，预计本地与离岸业务贡献比例或维持相近水平。
展望2025年第二季，预计年度化APE增长将持续强劲，市场竞争可能维持激烈，因演示利率(illustration rate)已于6月底前下调至6.5%。(ad/u)(港股报价延迟最少十五分钟。沽空资料截至 2025-07-25 16:25。)
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