Target Insurance (Holdings) Limited announced that, based on the unaudited management accounts of the Group for the year ended 31 December 2019, it is anticipated that the Group will record a significant increase in loss before tax by approximately 54% to approximately HKD 193.2 million for the year ended 31 December 2019 as compared with loss before tax of HKD 125.8 million for the last corresponding year. The loss was due to the substantial increase in net insurance claims and loss adjustment expenses of approximately HKD 116.7 million.