... 30 September 2020 Our Ref: INS/TEC/10/48 By Email To: Chief Executives of all authorized insurers Dear Sirs, iAM Smart Pilot Sandbox Programme - Phase 2 Further to our previous circular in August regarding the iAM Smart Pilot Sandbox Programme (the “Pilot Sandbox”) by Cyberport, we would like to...

... cited emerge from our observations in our complaints handling and supervision work and also take account of the Insurance Core Principles (“ICP”) promulgated by the International Association of Insurance Supervisors. ICP 19.10, which requires insurers to handle claims in a timely, fair and...

...: • The self retention4 by the insurance company regarding general insurance exposure to damage as a result of a single catastrophic event. • An amount which is the product of the share of the reinsurers in the general insurance exposure for natural disasters, by the factors established in Table Number 10...

...: • The self retention4 by the insurance company regarding general insurance exposure to damage as a result of a single catastrophic event. • An amount which is the product of the share of the reinsurers in the general insurance exposure for natural disasters, by the factors established in Table Number 10...

... made by the 15 jurisdictions it had identified in June 2000 as NCCTs in the fight against money laundering and decided to remove four of these jurisdictions in recognition of their efforts to address deficiencies through the enactment of legal reforms. These jurisdictions are the Bahamas, the Cayman...

... million to $241 million is a welcome development. On reinsurance inward business, the gross and net premiums were $15.9 billion (increased by 20%) and $9.6 billion (increased by 17.8%) respectively, driven by Property Damage business due to rates hardening and new coverages. Underwriting profit...

... Limited 6. Asia Capital Reinsurance Group Pte. Ltd. 7. Atradius Credit Insurance N.V. 8. AXA 9. BEA Life Limited 10. BlackRock, Inc 11. Blue Cross (Asia-Pacific) Insurance Limited 12. BOC Group Life Assurance Company Limited 13. C.F. Yam 14. Chevalier Insurance Company Limited 15. China Ping An Insurance...

... three “specified relatives”) and the taxpayer is the policyholder of these policies, then the annual deduction ceiling would be $32,000 (i.e. $8,000 x 4) for the qualifying premiums paid. (c) Administration of the VHIS The VHIS is administered by the Voluntary Health Insurance Scheme Office (“VHIS...

... the aggregate net reinsurance recoverable due from all such related reinsurers to 10% of the ceding insurer’s Net Assets Amount; and (b) for an authorized insurer referred to in paragraph 2.1(c) above, notwithstanding whether that insurer is also subject to the impact assessment made under (a), the IA...

... be at least 10 years and reaches its maturity. The second one is “lifetime” or “whole life”, in which the annuity payment will be distributed as a stream of lifelong income without a fixed duration until the insured passes away. However, it should be noted that even with the...