... better risk management and policyholders’ protection. 10 Pillar 1 – Quantitative Requirements • IA launched the first Quantitative Impact Study (“QIS 1”) and distributed the technical specifications and templates to the industry on 28 July 2017. • QIS 1 submissions by 1 December 2017 Data analysis will...

... disciplinary actions against the DIHC. The Group-wide Supervision (“GWS”) framework The GWS framework is anchored on three pillars: Pillar 1 Pillar 1 establishes capital requirements which a DIHC in relation to its supervised group would be...

... iAM Smart Modernize Infrastructure Cybersecurity, Personal Data Privacy, Ethics, Regtech/Suptech Address Regulatory Concerns Insurance Authority Corporate Strategy 9 Policy Holders’ Protection Market Development Product Innovation Policy Holders’ Protection: Risk-based Capital Regime 10 Pillar 1...

... appointment as a new Non-Executive Director (NED) of the IA and the seven incumbent NEDs on their reappointments: Mr Samuel Chan Ka-yan, Professor Chan Wai-sum, Ms Chitty Cheung Fung-ting, Mr Kenneth Kwok Tsun-wa, Mr Ma Ho-fai, Mr James Wong Chien-kuo and Mr Stephen Yiu Kin-wah. Established in...

... level principles of the conceptual framework, there are mixed views on some of the technical aspects. The following paragraphs highlight the major comments received and our responses. Detailed comments on the proposals and our responses are at Annex B. Major Comments Received and Our Responses Pillar 1...

... Guideline has been revised to focus, in relation to group risk, on requirements at the solo level. (See paragraphs 2.3, 6.5.1 to 6.5.5, Annex A and Annex B) 3. Introduction of “Pillar 2 Capital amount” The industry would like to seek further guidance and expectation on “internal economic capital” and...

..., the level of risk to which an insurer is exposed will be taken into account when determining its capital requirement. Q5 What are the three Pillars under the RBC framework ? A5 An RBC framework covers three major areas, known as the Three Pillars. Pillar 1 consists of the quantitative requirements...

... the insurance agent of two other authorized insurers (a life insurer and a general insurer belonging to the same group of companies). Again the applications were accepted by the IARB. In April 2018, one of the former agent’s new insurer principals engaged an external vendor to verify...

... 9a) is "No - use the existing system", did you perform a test run in HKFRS 17 basis? 9c i) If your answer in 9a) is "Yes - buy a new system" or "Yes - modify the existing system by vendor & internal staff" or "Yes - modify the existing system by vendor", what is your current status with the vendor...

... The four IFGs are IFG on Pillar 1 (Life Insurance), IFG on Pillar 1 (General Insurance), IFG on Pillar 2 and IFG on Groups. 2 The data to be collected during QIS 1 is important to enable us to perform data analysis and calibration for the risk charges and capital requirement at a later stage. Your...