... effectiveness in administering the insurance laws of their respective jurisdictions have reached the following understanding: I. Definitions 2. For the purposes of this Memorandum of Understanding, the terms set out below have the assigned meanings unless the context requires otherwise: (a) “Authority” means...

... effectiveness in administering the insurance laws of their respective jurisdictions have reached the following understanding: I. Definitions 2. For the purposes of this Memorandum of Understanding, the terms set out below have the assigned meanings unless the context requires otherwise: (a) “Authority” means...

... arrangements and ability to comply with the Ordinance, are reproduced in the Annex. 3 3.4. Paragraphs 3.5, 3.6 and 3.7 below give general guidance to applicants as to the other grounds determining whether the IA will refuse an application under section 8(1)(b)(ii) of the Ordinance. The requirements set forth...

... timely, delivered on schedule and without undue slippage. c) Policies and procedures Various issues in the AML/CFT policies and procedures of some insurers were noted:- (1) Requisite Customer Due Diligence (“CDD”) requirements were not stipulated (e.g. no enhanced due diligence (“EDD”) measures were set...

... routinely or in response to a request, and lays down procedures governing its prompt release. The Code authorizes and requires IA staff, routinely or on request, to provide information unless there are specific reasons for not doing so. These reasons are set out in Part 2 and will normally be cited if a...

... reinsurers when they consider ceding business offshore. Hong Kong is also an ideal location for Mainland companies, and especially state-owned enterprises (“SoEs”), to set up captive insurers. Having a captive insurer in Hong Kong can help a Mainland group pool the risks among its subsidiaries and associates...

... reinsurers when they consider ceding business offshore. Hong Kong is also an ideal location for Mainland companies, and especially state-owned enterprises (“SoEs”), to set up captive insurers. Having a captive insurer in Hong Kong can help a Mainland group pool the risks among its subsidiaries and associates...

... reinsurers when they consider ceding business offshore. Hong Kong is also an ideal location for Mainland companies, and especially state-owned enterprises (“SoEs”), to set up captive insurers. Having a captive insurer in Hong Kong can help a Mainland group pool the risks among its subsidiaries and associates...

... also establish principal points of contact to ensure the smooth operation of arrangements set out in the MoU. Furthermore, the two authorities agree to hold meetings at regular intervals to discuss current or evolving supervisory issues, and to hold ad hoc meetings to deal with specific supervisory...

... also establish principal points of contact to ensure the smooth operation of arrangements set out in the MoU. Furthermore, the two authorities agree to hold meetings at regular intervals to discuss current or evolving supervisory issues, and to hold ad hoc meetings to deal with specific supervisory...