... requirements in GL26. Whilst GL26 does not have the force of law, in the sense that it is not subsidiary legislation and should not be interpreted in a way that would override any provision of law, a non-compliance with its requirements may reflect on the IA’s view of the continued fitness and properness of (i...

... Qualifying Deferred Annuity Policy Background In view of the ageing population, the Government has proposed a tax deduction for premiums for deferred annuity products to promote voluntary retirement savings. The Insurance Authority (IA) has been...

... protection to policy holders 8 Pillar 2 – Qualitative requirements Own Risk and Solvency Assessment (ORSA) • ORSA is central to insurers ERM framework: • Allows the Board and Senior management to anticipate the key risks and capital needs from a prospective view • Continuity analyses and Stress Scenarios...

... of the view that the existing cap limits the range of products that can be offered to clients. On the other hand, a majority of insurers which gave feedback to the consultation requested to keep the existing cap of four insurers unchanged due to their concerns over insurers’ liability for the acts of...

... of the view that the existing cap limits the range of products that can be offered to clients. On the other hand, a majority of insurers which gave feedback to the consultation requested to keep the existing cap of four insurers unchanged due to their concerns over insurers’ liability for the acts of...

... of the view that the existing cap limits the range of products that can be offered to clients. On the other hand, a majority of insurers which gave feedback to the consultation requested to keep the existing cap of four insurers unchanged due to their concerns over insurers’ liability for the acts of...

... of the view that the existing cap limits the range of products that can be offered to clients. On the other hand, a majority of insurers which gave feedback to the consultation requested to keep the existing cap of four insurers unchanged due to their concerns over insurers’ liability for the acts of...

... premiums of Individual Life and Annuity (Non-Linked) business decreased by 16.9% to $106.8 billion. On the other hand, those of Individual Life and Annuity (Linked) business increased by 160.2% to $9.1 billion. With a view to enhancing transparency and facilitating comprehensive and objective...

... point of sale of a participating policy, a potential policy holder will be provided with a document of benefit illustrations, which gives a view of the benefits projected into the future.   To help policy holders understand the past performance of non-guaranteed benefits declared by...

... Insurance Authority (“IA”) issued a circular on 21 February 2020 regarding Phase 1 of the temporary facilitative measures (“TFM”) to obviate the need to conduct face-to-face (“F2F”) meetings to minimize the risk of infection during the sales process of insurance policies. In view of the current pandemic...