4 November 2026
The Insurance Authority (IA) launched a public consultation today (4 November 2026) on proposed amendments to the Insurance (Authorization and Annual Fees) Regulation (Cap. 41C) and the Insurance (Levy) Order (Cap. 41J) made under section 128 and section 134 of the Insurance Ordinance (Cap. 41) respectively.
These amendments seek to adjust the cap imposed on variable component of the annual fees payable by authorized long term insurers from $7 million to $28 million and the related rate from 0.0039% to 0.0042% of insurance liabilities, and the cap imposed on premium levy payable by holders of long term policies from $100 to $500 or $1,000 with the related rate maintained at 0.1%.
“The review is carried out in accordance with original design of our funding mechanism to ensure that the IA can effectively discharge its statutory functions on a sustainable basis, while limiting the impact on policy holders and international competitiveness of the insurance industry,” an IA spokesperson said.
The consultation paper can be accessed from the IA website, and we encourage members of the public to submit their comments on or before 3 December 2026.
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