... have completed the third Quantitative Impact Study and are addressing some technical adjustments on Pillar 1 put forward by stakeholders including ASHK to pave way for industry consultation. On Pillar 2, the Guideline on Enterprise Risk Management has taken effect and the first set of Own Risk and...

... that the most potent change being rolled out by the IA is the RBC regime, which aims at dovetailing our solvency standards with contemporary international practices. After undergoing some years of development and completing three times of QIS, I am glad that the technical considerations under Pillar 1...

... Report. 6 Annex 2 - Examples of risks not included in Pillar 1 The following is a list of examples of the insurance risks that are not covered in the Pillar 1 RBC Requirements. Insurance risks • Event hitting multiple lines of business (e.g. property and inland transit) • Event hitting multiple risks from...

... -180,000 -180,000 PCR Solvency Ratio -20% -10% 8% 7% General business insurers are expected to add commentary as outlined in Section V. 4 Valuation date of the ORSA Report. 6 Annex 2 - Examples of risks not included in Pillar 1 The following is a list of examples of the insurance risks that are not...

... -180,000 -180,000 PCR Solvency Ratio -20% -10% 8% 7% General business insurers are expected to add commentary as outlined in Section V. 4 Valuation date of the ORSA Report. 6 Annex 2 - Examples of risks not included in Pillar 1 The following is a list of examples of the insurance risks that are not...

... for the insurance industry in Hong Kong. The result would form the basis for the IA to finalize the set of rules on Pillar 1 capital requirement after which a consultation process is expected to be carried out in 2020. Your participation is therefore essential in the finalization of the RBC regime...

... CONSIDERATIONS ................................................................................. 15   CHAPTER 4 PILLAR 1: QUANTITATIVE ASPECT – CAPITAL ADEQUACY ...... 18   CHAPTER 5 PILLAR 2: QUALITATIVE ASPECTS ................................................... 50   CHAPTER 6 PILLAR 3: DISCLOSURE AND...

... income $180,000 $20,000 Annual income $240,000 $30,000 Annual income $360,000 $60,000 Annual income $720,000 $60,000 Annual income $720,000 Tax savings The following table provides an example of the potential annual tax savings for individuals with di�erent incomes and tax brackets. Assuming the taxpayer...

... practices and decisions. 1.3 The risk-based capital regime (“RBC regime”) for Hong Kong’s insurance industry comprises three key components, commonly known as the “Three Pillars”. Pillar 1 covers the regulatory capital rules and requirements; Pillar 2 covers corporate governance and ERM; and Pillar 3 covers...

... practices and decisions. 1.3 The risk-based capital regime (“RBC regime”) for Hong Kong’s insurance industry comprises three key components, commonly known as the “Three Pillars”. Pillar 1 covers the regulatory capital rules and requirements; Pillar 2 covers corporate governance and ERM; and Pillar 3 covers...