The Hong Kong insurance sector is set to buck the trend of a sluggish economy in 2025. According to a Randstad report, existing employees can anticipate salary hikes of 3% to 4%, while those switching jobs might negotiate up to 15% increases. Steady hiring activity is projected, with headcount replacement a priority and new openings in distribution and operations on the horizon.
Agency distribution is fueling growth, leading to a hunt for middle to senior managers with insurance acumen, especially for MCV clients. Roles in agency training are also sought after. Partnership distribution teams, spurred by new bancassurance alliances, are growing and require talent in project management and digital skills. Competition for HNW customer-serving talent is intensifying.
Stricter IA regulations are redefining hiring, with a focus on compliance experts. Digital transformation is a key driver, creating demand for project managers and data analysts. Despite 34% of employers planning to expand and 54% to maintain headcounts, a lack of skilled talent (62% citing it) and tight budgets pose recruitment hurdles. However, 30% of companies will boost salary budgets to attract in-demand candidates, signaling a cautious yet strategic approach in the face of economic uncertainties.
Related topics
