... under the Ordinance. Under section 4A of the Ordinance, the principal function of the IA is to regulate and supervise the insurance industry for the promotion of the general stability of the insurance industry and for the protection of existing and potential policy holders. A relevant consideration in...

..., client’s age at policy inception and ability to afford the product including ability to pay regular premiums throughout a policy payment term; 12.3 different financial needs, priorities and circumstances or requirements, at least in terms of insurance (or protection), saving, or investment. 13. Members...

... insurance options that are available to meet their specific needs and financial circumstances. Examples include: - clients wanting both insurance protection and “saving up for the future” should be presented with the option of procuring an endowment policy; and - clients wanting both insurance protection...

... term business. 4. Regarding client distribution, insurance agencies mostly (81%) served local (i.e. Hong Kong resident) individual policy holders. The remaining 19% of clients were split almost equally between non-local (i.e. Mainland and overseas residents) individual policy holders (9%) and corporate...

... term business. 4. Regarding client distribution, insurance agencies mostly (81%) served local (i.e. Hong Kong resident) individual policy holders. The remaining 19% of clients were split almost equally between non-local (i.e. Mainland and overseas residents) individual policy holders (9%) and corporate...

... HKFRS 17 is also enclosed for your reference. Should you have any enquiries on the above, please feel free to contact our Mr Erwin Chak at 3899 9977 or Mr Bill Li at 3899 9517. Yours faithfully, Tony Chan Associate Director Policy and Development Division Insurance Authority c.c. Chairman, The Hong Kong...