... or potential policyholders, and to ensure continuity of their business operations. 2. Interpretation 2.1 In this Guideline, unless the context otherwise specifies: (a) “critical system” in relation to an authorized insurer, means a system, the failure of which will cause significant disruption to the...

... or potential policyholders, and to ensure continuity of their business operations. 2. Interpretation 2.1 In this Guideline, unless the context otherwise specifies: (a) “critical system” in relation to an authorized insurer, means a system, the failure of which will cause significant disruption to the...

... submitted by authorized insurers. The total gross premiums were $538 billion in 2022, a decrease of 7.5% over a year before. A summary of the Hong Kong insurance statistics for 2022 is at Annex, and further details can be obtained at the IA website. Ends   ...

... Appointment of Advisors for the Tahoe Life Insurance Company Limited 16 August 2023 The Insurance Authority (IA) today (16 August 2023) invoked powers under Section 35(2)(a) of the Insurance Ordinance (Cap. 41) to appoint Mr Peter Whalley and Mr...

... Insurance Authority welcomes appointment of new Executive Director 23 January 2024 The Insurance Authority (IA) today (23 January 2024) welcomed a decision made by the Government to appoint Mr Clement Lau as Executive Director, Policy and...

... Financial Action Task Force has recently issued a Guidance for Financial Institutions in Detecting Terrorist Financing. A copy of the Guidance is enclosed for your reference. The Guidance describes the general characteristics of terrorist financing and the risks that are posed to financial...

... Linked” Entities that are Members of the Supervised Groups under the Group-wide Supervision Regime We enclose herewith a Note on the Treatment of “Closely Linked” Entities that are Members of the Supervised Groups under the Group-wide Supervision Regime (“Note”) for your information. The purpose of this...

... Intermediaries1. A majority of respondents supported the proposal to enhance the minimum education requirements of licensed insurance intermediaries with a view to raising their quality of service and professionalism. In future, new licensees must attain a standard of Level 2 or above for five subjects...

... Insurance Authority warns against an unauthorized company with insurance-related name 13 April 2023 The Insurance Authority (IA) today (13 April 2023) wishes to alert members of the public in Hong Kong to a company called “Hongkong Baocheng...