... Insurance Fixed Fee (HK$) (a) Variable Fee (Capped) (HK$) (b) Total (HK$) (a) + (b) General Business 300,000 7,000,000 7,300,000 Long Term Business 300,000 7,000,000 7,300,000 Composite 600,000 14,000,000 14,600,000 Captive Insurer 30,000 7,000,000 7,030,000 1 According to section 20(1A) of Cap. 41, any...

... April 2017 Page 1 Note on Annual Authorization Fee INSURANCE AUTHORITY Note on Annual Authorization Fee INTRODUCTION Section 13 of the Insurance Ordinance (Cap. 41) provides that every authorized insurer must pay the prescribed fees to the Insurance Authority (the “Authority”) not later than the...

... Appendix 1 1 Prescribed Scenarios for the stress and scenario testing to be used by authorized insurers carrying on long term insurance business for the purpose of Own Risk Solvency Assessment Report I. Introduction I.1. The Guideline on Enterprise Risk Management (“GL21”) takes effect from 1...

... Appendix 1 1 Prescribed Scenarios for the stress and scenario testing to be used by authorized insurers carrying on long term insurance business for the purpose of Own Risk Solvency Assessment Report I. Introduction I.1. The Guideline on Enterprise Risk Management (“GL21”) takes effect from 1...

... intermediaries which were also the lending banks, it was observed that some did not take into account the total interest payments for the entire tenure of the PF facility in the affordability assessments, despite having access to the details of the PF facility. 1 This is a requirement under Paragraph 6.11 of...

... following table indicates areas of particular importance: Chapter Relative Weight 1 46% 2 34% 3 10% 4 10% Total 100% 1/1 1 INSURANCE PRODUCTS In this Chapter, we shall look at the major classes of business in General Insurance. Whilst it will not be necessary for you to have a very detailed understanding of...

... authorized insurance brokers carrying on or advising on long term business, and licensed individual insurance agents, licensed insurance agencies and licensed insurance broker companies ) carrying on regulated activities in respect of long term business) Insurance Authority Contents Page 1. Introduction...