... respect of its mortgage guarantee business which is entered into before 1 January 2011: (i) An amount equals to 50% of the net earned premium income derived from mortgage guarantee business in each year of account shall be assigned to the CR; (ii) The amount assigned to the CR in respect of a year of...
https://www.ia.org.hk/english/legislative_framework/files/GL6.pdf -
Date: 2020-09-24
... Changes to the list, if any, will be conveyed to you through similar advisory in due course. A copy of the FATF press release of 20 December 2002 in respect of Nigeria and Ukraine is attached at Annex II for your reference. Should you have any enquiries, please contact Mr. William...
https://www.ia.org.hk/english/legislative_framework/circulars/antimoney_laundering/circular090103.html -
Date: 2017-06-23
... following three purposes – (i) defining “eligible investors” to whom ILS may be sold or offered for purchase; (ii) prescribing a minimum investment size for ILS; and (iii) prescribing the offences and the relevant penalties whereby (i) and (ii) are contravened. 16. We have elaborated on the policy intent...
https://www.ia.org.hk/english/infocenter/files/Consultation_Paper_on_Draft_Insurance_Special_Purpose_Business_Rules_ENG.pdf -
Date: 2020-09-04
... the form as policy endorsement, is not considered as a top‐up. Q 3. For refundable insurance policies under 1(a)(ii), does it have to be 100% or more “refundable” in order for the FNA requirement be exempted? A 3. Yes. For those refundable insurance policies which are not 100...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/3_HKFI_FAQ_Initiatives_on_FNA_v3_12_12_2016_20190823.pdf -
Date: 2019-12-20
... products or services; (ii) advising existing or potential policy holders on the terms of their insurance policies or their insurance needs, etc.; (iii) quoting insurance premiums for a particular type of insurance product offered by one or more authorized insurers; (iv) comparing the respective premiums...
https://www.ia.org.hk/english/legislative_framework/files/GL8.pdf -
Date: 2020-09-24
... administrative reporting requirements: i) A licensed insurance agent must notify the IA of any change of name, business or residential address, telephone number or electronic mail address, within 14 days of the date of the change. ii) At least 14 days before an authorized insurer appoints an agent to carry on...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Cir_Insurers_dd_18122020.pdf -
Date: 2020-12-21
.../considerations.) (2) Cooling-off Period: You have the right to cancel this ILAS policy and get back your original investments (subject to market value adjustment) within the cooling-off period, which is the period of 21 calendar days immediately following either the day of delivery of (i) the policy; or (ii) the...
https://www.ia.org.hk/english/legislative_framework/files/Appendix_1.docx -
Date: 2020-09-24
.../considerations.) (2) Cooling-off Period: You have the right to cancel this ILAS policy and get back your original investments (subject to market value adjustment) within the cooling-off period, which is the period of 21 calendar days immediately following either the day of delivery of (i) the policy; or (ii) the...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/GL26_Appendix_1_Eng.docx -
Date: 2020-06-24
... impact analysis of HKFRS 17? 2b ii) Is HKFRS 17 expected to result in a higher or lower value of insurance contract liabilities compared to HKFRS 4? 3) In what year does your company plan to perform parallel/dry runs for HKFRS 17? 4) When did/will your company adopt HKFRS 9? 1b) If your answer in 1a) is...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/2019_HKFRS_17_Readiness_Assessment_Survey.pdf -
Date: 2019-11-29