Morgan McKinley Salary Guide 2026 flags steady wage growth this year for candidates.

Hong Kong candidates looking for a job in the insurance sector can expect a steady salary growth this year, averaging increases of 3% to 4% wage hikes, according to Morgan McKinley’s Salary Guide 2026 Hong Kong SAR report.

In 2025, the insurance sector’s talent hiring pool was active amidst as firms roll out more digital tools, including AI, the report said.

The report says insurers are changing the way they design products, sell them, and supervise distribution as digitalisation and AI become more common.

It points to the Insurance Authority stepping in with clearer expectations around the use of AI.

The guide says that whilst AI can improve efficiency and customer experience, it also increases exposure to data privacy, cybersecurity, and third-party risk.

It also says the Insurance Authority has tightened expectations on agency and intermediary models to reduce market conduct risk. As a result, hiring demand in insurance is shifting toward “1.5 line” and second-line control functions that cover oversight and governance rather than front-line sales activity.

Across legal, risk and compliance more broadly, it expects outcomes in a 0% to 5% range in 2026, depending on performance and the wider economy.

In a previous report, Hong Kong insurers will see a 36% year-on-year (YoY) surge in job applications this year, making it one of the strongest industries in hiring demand, according to the Global Salary Survey 2026 by recruitment firm Robert Walters.

The survey shows insurers are stepping up hiring, particularly in digital transformation, compliance, risk and governance, and operations. Insurance job vacancies rose 3% YoY in 2025, and 76% of insurance professionals said they feel positive about their job prospects.

The hiring momentum comes as the Hong Kong Insurance Authority reported that total gross premiums reached $55.0b (HK$423.4b) in the first half of 2025.