The key objectives of public disclosure requirements on insurers are to align with international regulatory benchmarks and enhance market discipline and transparency by providing meaningful and useful information to the general public.
Insurance (Public Disclosure) Rules (Cap. 41W), which set out the public disclosure requirements, have come into operation on 22 May 2026.
Public disclosure requirements are applicable to all authorised insurers for disclosing audited financial statements and disclosure statements, except for the following:
Lloyd's is required to disclose its audited financial statements only.
In accordance with the Insurance (Public Disclosure) Rules, insurers must provide information annually in a disclosure statement. HK insurers and designated insurers1 disclose information on company level, while non-HK insurers (other than designated insurers) disclose information on Hong Kong branch level. Disclosure statement is prepared based on regulatory valuation and capital framework under the Insurance Ordinance (as compared with audited financial statements prepared under generally accepted accounting principles/financial reporting standards).
1 If, in the opinion of the IA, a non-HK insurer carries on a majority of its insurance business in or from Hong Kong, the IA may, by a written notice served on the insurer, designate the insurer as a designated insurer.
A disclosure statement should follow Disclosure Statement Template2 and it generally includes the following:
| Section | Information to be disclosed |
|---|---|
|
Company Profile |
Name, nature of business, place of business operations, and corporate structure of the insurer |
|
Corporate Governance Framework |
Details of the insurer's governance framework |
|
Financial Position |
Balance sheet under Risk-based Capital (“RBC”) regime, with components of long term business, participating business (being part of long term business), and/or general insurance business |
|
Investments |
Valuation assumptions and methods relating to the investments held by the insurer |
|
Insurance Liabilities |
Insurance liabilities for long term business and/or general business by lines of business, along with the description of relevant valuation assumptions and methods |
|
Financial Performance |
|
|
Capital Adequacy |
Prescribed capital amount (“PCA”) and its risk components, capital base and its capital components, and the ratio of capital base to PCA |
|
Risk Management |
Risk appetite, risk governance framework, and risk management of insurance and investment risks |
Under the Insurance (Public Disclosure) Rules, applicable insurers are required to disclose to the public their audited financial statements and disclosure statements within 8 months after the end of each financial year starting from the financial year commencing on or after 1 January 2025. After 30 June 2027, the disclosure must be made within 6 months after the end of each financial year.
Examples of the disclosure timeframe for different financial year end dates are illustrated below:
| Financial year ending | Disclosure to be made by |
|---|---|
| 31 December 2025 | 31 August 2026 |
| 30 June 2027 | 29 February 2028 |
| 31 December 2027 | 30 June 2028 |
Separately, the IA required insurers vide circular dated 8 August 2025 to disclose the quantitative part of the disclosure statements for the first financial year of implementing RBC Regime (i.e. the 2024 financial year). The disclosure of information for the 2024 financial year included financial position, insurance liabilities, and capital adequacy.
Insurers are required to keep the relevant statements on their internet websites. The public may alternatively request a physical or electronic copy directly from insurers, who must promptly make them available, without undue delay.