... direct supervision and regulation of insurance intermediaries on 23 September 2019, all insurance broker companies, their chief executives (now responsible officers (“ROs”)) and their technical representatives (“TRs”) registered with either the Hong Kong Confederation of Insurance Brokers (“CIB”) or the...

... Insurtech Corner on the IA website. 2. Promoting exchange and maintaining close dialogue with the industry In order to enhance the communication with insurers and businesses involved in the development of Insurtech, the IA established the Insurtech Facilitation Team to help...

... GL4 GUIDELINE ON “FIT AND PROPER” CRITERIA UNDER THE INSURANCE ORDINANCE (CAP. 41) Insurance Authority Contents Page 1. Introduction ………………………..………………….…. 1 2. Approval / No Objection / Notification Requirements for Appointments of Certain Positions …....……………….... 1 3. Factors for Determining...

... commencing on 23 September 2019. As part of the preparation, the IA is conducting the first market survey of Insurance Agencies engaging in long term business (“Long Term Insurance Agencies”) to collect their basic business and financial information. The survey consists of three sections. All Long Term...

... comprising $463.9 billion from Individual Life and Annuity (Non-Linked) business (increased by 1.5%), $27.7 billion from Individual Life and Annuity (Linked) business (increased by 0.1%), as well as $50.7 billion from Retirement Scheme business (increased by 50.3%). On the other hand, new office...

... Licensed Insurance Broker Companies) Rules (Cap. 41L) Savings and Transitional Arrangements The Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules (Cap. 41L) (“Broker Rules”) came into force on 23 September 2019. The Broker Rules set out the requirements applicable...

... holders in terms of claims and benefits was $307.1 billion1 (increased by 25.7%). On the other hand, new office premiums (excluding Retirement Scheme business) of long term business were $166.8 billion (increased by 25%), made up of $135.6 billion from Individual Life and Annuity (Non-Linked...

... Premiums With the Voluntary Health Insurance Scheme (“VHIS”) fully launched, i.e. offered to consumers, on 1 April 2019, individual hospital insurance consumers are now given the choice of buying indemnity hospital insurance plans certified by the Food and Health Bureau under the VHIS (“Certified Plans...