...). Under section 21 of the AMLO, the IA may impose a pecuniary penalty either on its own or together with other disciplinary sanctions on an authorized insurer carrying on long term business, and a licensed individual insurance agent, a licensed insurance agency or a licensed insurance broker company...

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... account owner”) with information on how to submit an individual licence application through IIC. For the set up of “supervisor account” and “administration account” by the principal, please refer to the “User Guide of the IA Insurance Intermediaries Connect for Principals (Authorized Insurers, Licensed...

... stable stream of monthly income in retirement. Currently there are QDAPs in the market that accept applications with a minimum age of 18, this allows policyholders to accumulate funds on an instalment basis at a young age, so as to lay a sound financial foundation for their future retirement as early as...

... Enhance Customer Protection (“Updated Requirements”) With reference to our Circular (Ref: Mv135/14) dated 8 December 2014, a revised enclosure (mainly with topographical changes on pages 10 and 30) is enclosed herewith to replace the Updated Requirements. The full set of Updated Requirements is...

... 41O of Laws of Hong Kong) (“Group Capital Rules”) which the IA made under sections 95ZI and 129 of the Insurance Ordinance (Cap. 41). The Interpretation Notes set out the IA’s views as to how certain provisions of the Group Capital Rules operate for different group structures with a specific focus on...

... Guideline on Group Supervision (GL32) Our Ref: INS/TEC/6/96 17 May 2021 To: Chief Executives of Designated Insurance Holding Companies Dear Sirs, Guideline on Group Supervision (GL32) I enclose herewith a copy of the Guideline on Group Supervision (GL32) (“GL32”) issued on 14 May...

... Guideline on Group Supervision (GL32) Our Ref: INS/TEC/6/96 17 May 2021 To: Chief Executives of Designated Insurance Holding Companies Dear Sirs, Guideline on Group Supervision (GL32) I enclose herewith a copy of the Guideline on Group Supervision (GL32) (“GL32”) issued on 14 May...

... certificates concerned are purported to be issued by Mainland education institutions, the IA wishes to remind insurers to stringently comply with the vetting requirements for authentication of Mainland academic certificates set out in the circular issued by the IARB on 13 April 2017. In respect of the three...

... the whole or any part of this Guideline. A non- compliance with the provisions in this Guideline would not by itself render an authorized insurer or licensed insurance intermediary liable to judicial or other proceedings. A non-compliance may, however, reflect on the IA’s view of the continued fitness...