In 2023, MSIG Insurance (Hong Kong) reached a significant milestone with a record-setting claims settlement ratio of 93.2%, marking the highest figure since 2020. This figure reflects a notable increase from the previous year’s ratio of 92.9%.
The company processed a total of HK$312,824,598 in claims throughout the year, demonstrating a robust performance in claims resolution. The MSIG Claims Report for 2023, now in its fifth edition, detailed impressive settlement ratios across various insurance classes in Hong Kong and Macau. The Employee’s Compensation insurance saw an exceptional settlement ratio of 99.63%, Domestic Helper insurance stood at 97.75%, and Marine insurance recorded a ratio of 97.14%.
Additionally, 2023 was notable for a reduction in complaints, with only 13 received over the past year— the lowest number in three years.
The autumn of 2023 brought severe weather conditions to Hong Kong, including a powerful typhoon and unprecedented rainfall, which caused considerable damage. In response, MSIG efficiently managed over 840 claims related to these extreme weather events. The company ensured clear communication and provided substantial support to those affected during this challenging period.
