39 0 Milliman Article


Oct 2020

Read the latest edition of AIR and MEIR as an Interactive e-book

Milliman Fulfillment Ratio Index for reporting year 2019: Actual versus illustrated non-guaranteed benefits in Hong Kong

Brought to you by Milliman

Last year, Milliman developed a Hong Kong fulfillment ratio index to understand the gap between illustrated non-guaranteed benefits at point of sale and actual non-guaranteed benefits declared by life insurance companies in Hong Kong.


In particular, the Milliman Fulfillment Ratio Index has been developed using:

  • Disclosed fulfillment ratios published annually by Hong Kong life insurers
  • Top 10 life insurance companies in Hong Kong based on in-force premiums
  • Six material on-shelf and shelved participating products sold by these companies, including different types of participating product policy years as published by these companies
  • This bulletin sets out the Index for reporting year 2019, our key observations on key drivers of changes and the potential outlook post COVID-19.


You can download a copy of the bulletin here.


For more details, please contact: ·


Disclaimer:This article presents information of a general nature and is intended solely for educational purposes. It is not intended as advice for any specific situation and may not be relied upon for any purpose. You should always consult qualified professionals familiar with your circumstances before adopting any strategy or taking any action. Milliman does not guarantee the veracity, reliability, or completeness of this bulletin and has no responsibility for damages alleged to have been caused by it.

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