... “Know Your Client” procedures. 2. The assessment of the clients’ needs should refer to their financial circumstances, total protection needs and requirements as disclosed and duly recorded in the forms or instruments of the Members in conducting the “Know Your Client” procedures. 3. If the clients are...

... 1 Market Overview - General Insurance Market Performance of General Insurance Business in 20181 Total gross written premiums (“GWP”) recorded growth of 10.0% to HK$53,101 million in 2018, which was its strongest growth in the past five years. The overall retention rate in 2018 dropped to 65.4...

... quarters of 2017. Total gross premiums of the Hong Kong insurance industry in the first three quarters of 2017 amounted to $363.2 billion, representing an increase of 11% over the corresponding period in 2016. Long term business The total amount of revenue premiums of...

... registration or deregistration, termination of appointment, terms and conditions of agency agreement, remuneration arrangement, etc.) Representation of Information 23% Claims 16% Conduct 17% Business or Operations 19% Services 11% Insurance Intermediary against Insurer 9% Others 5% (a) Total: 933 (f) (e) (d...

... arrangement, etc.) 38 Others 45 Total: 648 Explanatory Note:  Under the current self-regulatory system for insurance intermediaries, some complaints against insurance intermediaries might have been lodged directly with the three Self-Regulatory Organizations (i.e. Insurance Agents Registration Board, The...

... arrangement, etc.) 59 Others 4 Total: 548 Explanatory Note:  Under the current self-regulatory system for insurance intermediaries, some complaints against insurance intermediaries might have been lodged directly with the three Self-Regulatory Organizations (i.e. Insurance Agents Registration Board, The Hong...

... arrangement, etc.) 76 Others 12 Total: 1,111 Explanatory Note:  Under the current self-regulatory system for insurance intermediaries, some complaints against insurance intermediaries might have been lodged directly with the three Self-Regulatory Organizations (i.e. Insurance Agents Registration Board, The...

... registration or deregistration, termination of appointment, terms and conditions of agency agreement, remuneration arrangement, etc.) Representation of Information 24% Claims 13% Conduct 16% Business or Operations 26% Services 17% Insurance Intermediary against Insurer 3% Others 1% (a) Total: 1,080 (f) (e) (d...

... stream of income, giving them greater certainty and control in planning for their retirement life.” The IA has promulgated a new guideline elucidating the standard features of QDAP that include minimum total premium of $180,000, minimum payment period of five years, minimum annuity period...

... insurance market reported growth in total gross written premiums (“GWP”) of 4.5% to HK$64,387 million in 2022 against the backdrop of the fifth wave of COVID-19 and subdued economic recovery.  Overall underwriting profit increased to HK$4,338 million in 2022 compared to HK$1,720 million in...