According to the latest study released by Timetric, Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2018, the Hong Kong personal accident and health segment’s gross written premium grew at a review-period combined annual growth rate (CAGR) of 6.4 per cent. Health insurance accounted for 77.2 per cent of the personal accident and health insurance gross written premium value in 2013, followed by personal accident and travel insurance. The gross written premium of health insurance rose at a review-period CAGR of 6.4 per cent. The increase in healthcare expenditure, a rise in outbound tourist volume, favourable government initiatives and growing consumer awareness of the benefits of insurance products all supported this growth. Hong Kong’s positive economic outlook is also expected to drive the segment’s growth over the forecast period. According to the IMF, Hong Kong’s GDP at current prices is expected to increase at a forecast-period CAGR of 6.9 per cent in 2018. This growth is expected to result in a rise in average income levels, and increase demand for personal accident and health insurance. Specifically, the number of personal accident and health insurance policies sold in Hong Kong is expected to increase, at a forecast-period CAGR of 5.2 per cent in 2018.