... Annex 1 Key Observations from the First ORSA Reports The Insurance Authority (“IA”) issued the Guideline on Enterprise Risk Management (“GL21”) which took effect on 1 January 2020. This is the Pillar 2 requirement which is implemented ahead of the statutory capital requirement under the Risk-based...

... withdrawal made from the CR. 5 4.8. The maintenance of a CR recognizes the need to provide for the contingency of accumulation of risks in times of severe economic downturn. This practice is generally in line with those applicable to insurers writing mortgage guarantee business in the United States and...

... Solvency Assessment, so as to fulfill the Pillar 2 or qualitative requirements of the RBC Regime. We aim to conduct a consultation on the draft guideline later this year, with a view to starting implementing the ERM framework in early 2020. There will be direct linkage between the riskiness of investments...

... Solvency Assessment, so as to fulfill the Pillar 2 or qualitative requirements of the RBC Regime. We aim to conduct a consultation on the draft guideline later this year, with a view to starting implementing the ERM framework in early 2020. There will be direct linkage between the riskiness of investments...

... Solvency Assessment, so as to fulfill the Pillar 2 or qualitative requirements of the RBC Regime. We aim to conduct a consultation on the draft guideline later this year, with a view to starting implementing the ERM framework in early 2020. There will be direct linkage between the riskiness of investments...

... value at the time of death. Who should consider it? Young people wi th l imi ted financial means; individuals who have high protection needs for a period of time or who are looking solely for protection and have other financial plans Individuals in a strong financial s i t ua t i on w ho wa n t b o t h...

... actively engaged with representatives of the Hong Kong Federation of Insurers and the Actuarial Society of Hong Kong through Industry Focus Groups (IFGs) for Pillar 1 Life and General Insurance Businesses. The IFGs have discussed on technical issues and provided invaluable inputs in developing the relevant...

... framework will be founded on three pillars: a) Pillar 1: Pillar 1 will establish capital requirements which a holding company of an insurance group (designated insurance holding company) would be expected to ensure its insurance group meets. The capital requirements will consist of two levels comprising a...

... exempt from the licensing requirement. Q7: Is a staff member of the Claims Department required to be licensed to discharge duties such as maintenance of Claims Registers, claims data input, liaison with loss adjusters and seeking claims recovery from third parties or reinsurers? A7: Maintenance of Claims...

... exempt from the licensing requirement. Q7: Is a staff member of the Claims Department required to be licensed to discharge duties such as maintenance of Claims Registers, claims data input, liaison with loss adjusters and seeking claims recovery from third parties or reinsurers? A7: Maintenance of Claims...