... cent, the amount is to be rounded to the nearest cent. Fee Cap 8. The annual variable fee to be paid by each insurer carrying on general or long term business respectively is subject to a cap of $7 million. The cap for composite insurer will be applied per general business or long term business...

... respectively is subject to a cap of $7 million. The cap for composite insurer will be applied per general business or long term business respectively. 9. The annual authorization fee payable is the aggregate of fixed fee and variable fee payable. In other words, the annual authorization fee payable by insurers...

...) decreased from 10% in 2017 to 2.3% last year. The drop was mainly driven by the slowdown in the life insurance markets in China and South Korea, which together made up 40% of the total regional premium pool. Quoting from Capgemini, wealth of high net worth individuals in the Asia-Pacific region decreased by...

...) decreased from 10% in 2017 to 2.3% last year. The drop was mainly driven by the slowdown in the life insurance markets in China and South Korea, which together made up 40% of the total regional premium pool. Quoting from Capgemini, wealth of high net worth individuals in the Asia-Pacific region decreased by...

...) decreased from 10% in 2017 to 2.3% last year. The drop was mainly driven by the slowdown in the life insurance markets in China and South Korea, which together made up 40% of the total regional premium pool. Quoting from Capgemini, wealth of high net worth individuals in the Asia-Pacific region decreased by...

... average age of policy holders is 47.5, while the average annualised premiums per policy are around $71,000. Some 36,000 QDAPs worth $2.5 billion were issued in the first quarter of 2020, representing 7.3% of total new office premiums for individual business. New office premiums in respect of...

... subject to higher levels of responsibility under the new regime. The IA proposes to raise the minimum CPD hours requirement for individual licensees from 10 hours to 15 hours per annum, of which at least 3 hours must relate to ethics or regulations. Online or e-learning courses will be...

... Insurance Business as required under the Regulations for Insurance Brokers Engaged in Advising on Linked Long Term Insurance or Arranging or Negotiating policies of Linked Long Term Insurance. This Guidance Note is issued per the above-mentioned date. To allow sufficient time for Members to prepare the...

... policies reaching a high premium amount (e.g. in some cases, the premium amount threshold was set over HKD 6 million). In addition, the threshold specified by most insurers was on a per policy basis without consideration on a per person basis, i.e. requirement to be triggered in respect of all the...

... provide further guidance and support in processing the applications. Please rest assured that detailed instructions of the application process applicable to your agency will be set out in the invitation letter from the IA (per step 1 above). Next steps We have engaged with The Hong Kong Federation of...