Blue Cross (Asia-Pacific) Insurance Limited has reported a significant 22.1% year-on-year increase in its preliminary gross written premiums for 2024. The company’s non-medical business saw even more impressive growth at 31.7%, surpassing the overall market performance.
Blue Cross’s non-medical business growth was driven by strong gains in sectors such as travel, personal accident, employees’ compensation, general liability, and motor vehicle insurance. This performance contrasts with the broader market, where non-medical premiums declined by 0.9%.
Among its non-medical offerings, travel and personal accident insurance led the way, showing a 36.7% premium increase. This was significantly higher than the market’s 20.1% growth in the same segment. Additionally, medical insurance also experienced a healthy 19.1% rise in premiums.
CEO Bonnie Tse emphasized that the company will continue to improve its products and services to better meet customer needs. Blue Cross aims to offer the right protection at the right time and at an affordable price.
Conclusion
Blue Cross’s impressive growth in 2024 demonstrates its ability to adapt to market demands, with strong performances in both medical and non-medical sectors. As the company continues to enhance its offerings, it remains well-positioned for future growth in the competitive insurance market.
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