Men's Weekly

.

Business Telegraph

.

Blue Cross Surpasses Market Average with Over 20% Growth in 2024

  • Written by Telegraph Magazine

HONG KONG SAR - Media OutReach Newswire - 7 May 2025 - Blue Cross (Asia-Pacific) Insurance Limited ("Blue Cross") reported outstanding performance in the 2024 provisional statistics for Hong Kong general insurance business released by the Insurance Authority:

    • Blue Cross achieved a 22.1% year-on-year growth in gross written premiums, significantly outpacing the market average of 6.3%1. Blue Cross's overall market share has also increased.
    • Non-medical business experienced strong growth, with premiums surging by over 30% (31.7%), mainly driven by performance in travel and personal accident, employees' compensation, general liability and motor vehicle insurance businesses. The overall market's non-medical business slightly declined by 0.9%2.
    • In particular, travel and personal accident business performed the best, with a premium growth of nearly 40% (36.7%), far exceeding the overall market's growth of about 20% (20.1%)3.
    • Medical business also maintained its growth momentum, recording a premium growth of nearly 20% (19.1%).

    Ms. Bonnie Tse, Chief Executive Officer of Blue Cross, said, "Thanks to the staunch support of our customers and the collective efforts of our business partners, frontline and back-office teams, Blue Cross delivered wonderful results in 2024 with multiple business lines outperforming the market, cementing our strong position in the general insurance industry. Moving forward, we remain confident in our growth trajectory. Staying true to our customer-centric philosophy, we will continue to enhance our products and services catered to the needs and pain points of customers, ensuring the right protection at the right time for the right budget."

    Notes:
    1. Source: Insurance Authority's Provisional Statistics on General Business (direct business) from January to December 2024, excluding Mortgage Guarantee.
    2. Source: Insurance Authority's Provisional Statistics on General Business (direct business) from January to December 2024, excluding Medical and Mortgage Guarantee.
    3. Source: Insurance Authority's Provisional Statistics on General Business (direct business) from January to December 2024, non-medical part under Class of Business "Accident & Health".
    Disclaimers:
    • This press release is for distribution in Hong Kong Special Administrative Region only. The distribution of this press release is not and shall not be construed as an offer to sell or a solicitation to buy or a provision of any insurance product outside Hong Kong Special Administrative Region.
    • Blue Cross (Asia-Pacific) Insurance Limited is a subsidiary of AIA Group Limited. It is not affiliated with or related in any way to Blue Cross and Blue Shield Association or any of its affiliates or licensees.



    Hashtag: #BlueCross

    The issuer is solely responsible for the content of this announcement.

    Blue Cross (Asia-Pacific) Insurance Limited

    Blue Cross (Asia-Pacific) Insurance Limited ("Blue Cross") is a subsidiary of AIA Group Limited. With over 50 years of operational experience in the insurance industry, Blue Cross provides a comprehensive range of products and services including medical, travel and general insurance, which cater to the needs of both individual and corporate customers. Blue Cross distributes its products through various channels, including AIA agency force, online platform, direct sales, BEA network, insurance agents and brokers, as well as travel agencies.

    In 2024, Blue Cross is assigned financial strength rating of A+ (stable outlook) and issuer credit rating of A+ (stable outlook) by S&P Global Ratings.

Entrepreneurs & Leaders

How to Blend Indoor and Outdoor Spaces Seamlessly

Creating a natural flow between your indoor and outdoor spaces can make your home feel larger, brighter, and more inviti...

Embracing Change in Business: Turning Challenge into Opportunity with the Help of a Business Mentor

In today’s fast-paced, unpredictable and ever-changing business world, change in business is not just inevitable – it’...

Why Hiring a Digital Marketing Agency in Sydney Is a Smart Move for Growing Brands

In the competitive world of online marketing, standing out in a crowded digital space is no easy task. Businesses acro...

Boss Air Suspension and Superior Engineering: Advanced Suspension Technologies

The evolution of 4WD suspension reaches new heights with systems from Boss Air Suspension and Superior Engineering. Th...

What to Look for When Replacing Outdated Hose Fittings in Your Production Line

Over time, even the most robust equipment starts to show wear, and one of the most overlooked yet vital components in th...

Why Promotional Products Still Matter in a Digital World in Australia

In an age dominated by digital marketing, tangible branded merchandise still holds significant power. Promotional prod...

Wang Chuanfu Attends BYD Harmony’s 100th Overseas Store Opening

                                                                 Dignitaries inaugurate the new storeOn July 12, 2025, M...

A Step-by-Step Guide on How to Open Company in Poland

Poland continues to be a highly attractive destination for global entrepreneurs seeking new opportunities within the E...

What Sets a Top Commercial Plasterer Contractor Apart in Melbourne’s Competitive Market

Melbourne’s commercial construction scene moves fast. Whether it is a retail space on Chapel Street, a high-rise offic...