... (“IA”) has the responsibility of ensuring that an authorized insurer is able to meet its liabilities or fulfil the reasonable expectations of policy holders. Adequacy of the reserves set aside by an authorized insurer for payment of future claims is an important factor affecting the insurer’s ability...

... Preparatory Works To prepare for the new regime, we are drafting new rules, codes and guidelines and developing a new computer system and online portal.  We have also set up a Working Group on Direct Licensing Regime for Insurance Intermediaries and two...

... Business Ethics = A set of principles which determines what is the right behavior when conducting insurance business or carrying on regulated activity • Honesty and Integrity • Acting in the client’s best interests and treating clients fairly • Due care and diligence • Professional competence and...

... 3-year endowment policy with guaranteed return In this example, the policy holder is required to pay HK$1 million premium in a lump sum when buying the policy and will receive a total of HK$1.1 million in return upon policy maturity at the end of the third policy year. The profit or loss upon...

... products which provide surrender value not less than total premium paid at all times to be sold directly from an insurer or its Authorized Institution in the capacity as its agent to customers through digital distribution channel (e.g. webpage / mobile app) without recommendation. In such cases, the...

... a clearer picture on the underwriting performance in respect of each of these trades. In addition, a new set of annual statistical returns, further broken down into 10 trades, will be introduced to assist the industry in assessing the respective burning costs. The new format of annual returns will...

... a clearer picture on the underwriting performance in respect of each of these trades. In addition, a new set of annual statistical returns, further broken down into 10 trades, will be introduced to assist the industry in assessing the respective burning costs. The new format of annual returns will...

... a clearer picture on the underwriting performance in respect of each of these trades. In addition, a new set of annual statistical returns, further broken down into 10 trades, will be introduced to assist the industry in assessing the respective burning costs. The new format of annual returns will...

... a clearer picture on the underwriting performance in respect of each of these trades. In addition, a new set of annual statistical returns, further broken down into 10 trades, will be introduced to assist the industry in assessing the respective burning costs. The new format of annual returns will...