The insurance industry in Hong Kong is showing strong resilience in the face of a sluggish economic environment. While there is a strong emphasis on replacing headcount, we also anticipate the creation of new roles in distribution and operations.
While some areas within the legal industry will likely remain cautiously optimistic for 2025, others like data privacy, employment and general commerce reported growth in the tail end of 2024, coming as a relief after restructuring of talent and key skills needed from the past few years.
Download the 2025 Job Market and Salary Guide report to find out more about the key trends influencing the job market, in-demand specialised and soft skills as well as the latest salary benchmarks to attract the right talent for insurance.
jobs growth in distribution channels in insurance
Front office roles within agency and partnership distributions are particularly dynamic, as companies are likely to increase headcount to drive sales.
active hiring in agency distribution targets mainland chinese market
In the agency distribution, one of the insurance distribution channels, companies are actively hiring middle to senior managers with relevant business development experience in the insurance field. Serving Mainland Chinese Visitor (MCV) clients is a focus of recruitment efforts, as businesses grow their workforce and give preference to job applicants who are from mainland China and own market share or have prior experience managing these customers.
Additionally, there is a growing demand for assistant and junior managers in agency training roles. Employers are taking a more flexible approach to hiring and are open to accepting candidates who may not have a lot of insurance expertise but who have strong networks in mainland China, a solid foundation understanding of insurance products, and a willingness to learn.
robust hiring in partnership distribution
Although partnership distribution teams are smaller than their agency counterparts, hiring activity is expected to remain robust in 2025. This growth is driven by the rise of new bancassurance partnerships and the ongoing expansion in the ecosystem, in which insurance companies play a pivotal role.
As insurance companies collaborate with banks and other financial institutions, they seek talent with expertise in project management, digital marketing, and customer relationship management to tailor products and services effectively for their clients.
Several large conglomerates are fostering an ecosystem that encourages partnerships, thereby driving job creation in the insurance sector. In response to a growing number of wellness-conscious consumers, many insurance companies are establishing new subsidiaries or entering exclusive partnerships with healthcare providers and wellness companies to offer customised options.
Partnership distribution serves as a crucial channel for attracting high-net-worth (HNW) customers. Consequently, insurers are increasingly open to hiring front office talent from private banking and wealth management sectors, intensifying competition for top-tier talent within the HNW space.
new IA regulations tighten insurance distribution
The Insurance Authority (IA) has implemented stricter regulations on insurance distribution that align with the frameworks established by the Hong Kong Monetary Authority (HKMA). These new guidelines require licensing and the implementation of stringent due diligence processes for referral models, which are designed to enhance integrity within the insurance sector.
As a result, we see new governance roles being created within the first line of defence in insurance to ensure compliance with these guidelines. This has also led to heightened activity levels in compliance (the second line) for both and general insurance sectors.
As the IA implements more licensing and regulatory frameworks, companies will increasingly prioritise compliance and risk management professionals familiar with insurance and IA regulations. In 2025, insurers in Hong Kong may become less inclined to hire talent from other financial sectors, focusing instead on candidates from the insurance industry.
technological advances updates job scopes in underwriting and claims
In 2025, we expect to see more insurers step up to explore digitisation, artificial intelligence, and technology integration within their operations to automate claims and underwriting processes. In-demand skills employers look for to support digital transformation are project management, transformation initiatives, and data analytics.
While such changes can raise concerns among employees, claims and underwriting professionals may be more inclined to embrace these developments as they present opportunities for upskilling and career progression.
download randstad hong kong’s 2025 job market and salary trends report
Employees can expect an organic salary increase of between 3% and 4%, depending on their performance. Talent looking to change their employer could negotiate up to a 15% increment to their salary.
Our 2025 Job Market and Salary Trends report cuts through the complexity to deliver actionable insights and expert analysis for insurance firms. In our annual report, you can find salary benchmarks to 70 jobs in insurance, ranging from actuary to underwriting; business transformation to risk management.
The report examines key talent expectations as well as current industry trends and salary benchmarks in the following industries:
- Accounting and finance
- Banking and financial services
- Business support
- Construction, property and engineering
- Human resources
- Insurance
- Legal
- Life sciences and healthcare
- Luxury and retail
- Supply chain and logistics
- Sales and marketing
- Technology
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