... 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...

... Ordinance (Cap. 622), or one formed and registered under the former Companies Ordinance, including a non-Hong Kong company to which Part 16 of the Companies Ordinance (Cap. 622) applies. Authorization requirements and procedures are set out in the Authorization Guideline (GL1) and Guideline on...

... erage size of pro- tection gap 5.7 times of annual income * weighted average per economically active adult 02 Life insurance in Hong Kong is well developed. Premiums from life insurance reached HKD 511 billion in 2019, making Hong Kong the 11th larg- est life insurance market (in terms of total premium...

... erage size of pro- tection gap 5.7 times of annual income * weighted average per economically active adult 02 Life insurance in Hong Kong is well developed. Premiums from life insurance reached HKD 511 billion in 2019, making Hong Kong the 11th larg- est life insurance market (in terms of total premium...

... Scheme) promulgated in the 2021-22 Budget. The Grant Scheme provides an incentive for insurance companies and organisations to issue insurance-linked securities (ILS) in Hong Kong, while efforts are being made in parallel to map out a new regulatory scheme for Special Purpose Insurers set up in...

...;. All fees and levies that the IA collects are set out in the IA website. If members of the public receive any suspicious payment requests claiming to be made by the IA, they should verify the documents by contacting the IA via its general enquiry hotline at 3899-9983 (select language, then...

... writing to inform you that a set of Frequently Asked Questions (“FAQs”) on the Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules (“Rules”) has been issued today and is available on our website www.ia.org.hk. The FAQs aim to provide clarifications on the...

... capture business opportunities, and more importantly, extend the capacity of the insurance industry; thus enhancing its sustainable development.” The bill also seeks to expand the scope of insurable risks of captive insurers set up in Hong Kong, helping the industry capitalise on business...

... capture business opportunities, and more importantly, extend the capacity of the insurance industry; thus enhancing its sustainable development.” The bill also seeks to expand the scope of insurable risks of captive insurers set up in Hong Kong, helping the industry capitalise on business...

... Kong Federation of Insurers. 3A n n u a l R e p o r t 2 0 1 9 - 2 0 Chairman’s message ProMoTinG coMPeTiTiveness hong kong is a mature market, boasting top insurance density and penetration rates. Consolidating it as a premier base for regional headquarters set up by major i n t e r n a t i o n a l g r...