Axa Asia Pacific Holdings has disputed official statistics suggesting it is losing market share in Hong Kong. Group CEO Les Owen says Axa is growing market share in target products in Hong Kong and the data released there by the local insurance regulator should be viewed with caution.

The figures show Axa’s China region division has grown life insurance premiums by 8.6% to $867 million against industry-wide growth of 15.9%. The company takes about half its earnings in Hong Kong.