... enhance the audience’s understanding of the topic and refers to certain requirements of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”) and the Guideline on Anti-Money Laundering and Counter-Terrorist Financing (“GL3”) published by the Insurance Authority (“IA”), it provides...

... enhance the audience’s understanding of the topic and refers to certain requirements of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”) and the Guideline on Anti-Money Laundering and Counter-Terrorist Financing (“GL3”) published by the Insurance Authority (“IA”), it provides...

... G business and its implication on the retirement planning of the insuring public, the IA considers it appropriate that a set of guidelines on reserve provisions for Class G business should be promulgated for compliance by authorized long term insurers. 1.3. The objective of this Guideline is to...

... intermediaries, and has regulatory powers in relation to licensing, inspection, investigation and disciplinary sanctions. The regulatory regime for insurance intermediaries is activity-based.  Under section 64G of the IO, a person must not carry on a regulated activity, or must not hold out that...

... GL9 GL9 GUIDELINE ON ACTUARIAL REVIEW OF INSURANCE LIABILITIES IN RESPECT OF EMPLOYEES’ COMPENSATION AND MOTOR INSURANCE BUSINESSES Insurance Authority Contents Page 1. Introduction………………………………………………. 1 2. Application of this Guideline…………………………….. 1 3. Parameters for the Actuarial Review...

... 1 Asian Insurance Forum 2020 “Spearheading Change for a Sustainable and Resilient Future” 8 December 2020 Welcome Remarks by Dr Moses Cheng Chairman of the Insurance Authority The Hon Chief Executive, Mr Dixon1, friends and colleagues, ladies and gentlemen, good morning! On behalf of the Hong Kong...

... payment of total gross claims was $30 billion (decreased by 4.5%). The overall underwriting profit recorded an increase from $2 billion to $4.2 billion. On direct business, the gross and net premiums were $47.1 billion (increased by 2.1%) and $33.2 billion (increased by 0.5%) respectively. The...

... comprehensive assessment on an insurance broker for ascertaining its compliance with all the above requirements would be conducted in one onsite inspection. Under this approach, the IA will not only be able to have a better understanding of the corporate culture and internal controls of an insurance broker as a...

... Insurance Ordinance (Cap. 41) ("the Ordinance") Submission of statutory, actuarial and financial returns 9 April 2020 By Email only To: Chief Executives of authorized insurers carrying on long term insurance business Dear Sirs, Insurance Ordinance (Cap. 41) (“the Ordinance”) Submission of...

... Insurance Ordinance (Cap. 41) ("the Ordinance") Submission of statutory, actuarial and financial returns 9 April 2020 By Email only To: Chief Executives of authorized insurers carrying on long term insurance business Dear Sirs, Insurance Ordinance (Cap. 41) (“the Ordinance”) Submission of...