... records and outstanding cases to the IA so as to achieve a seamless transition. We have set up a Working Group on Direct Licensing Regime for Insurance Intermediaries (Working Group) to succeed the Working Group on Transition convened by the Financial Services and the Treasury Bureau. The main functions...

... Support the International Financial Reporting Standards Foundation’s proposal to establish a new Sustainability Standards Board for developing and maintaining a global, uniform set of sustainability reporting standards. We will also support complementary efforts by other standard-setting...

... records and outstanding cases to the IA so as to achieve a seamless transition. We have set up a Working Group on Direct Licensing Regime for Insurance Intermediaries (Working Group) to succeed the Working Group on Transition convened by the Financial Services and the Treasury Bureau. The main functions...

... Therefore, the assets freeze, travel ban and arms embargo set out in paragraph 1 of Security Council resolution 2368 (2017) no longer apply to the name set out below. A. Individual associated with ISIL (Da’esh) and Al-Qaida QDi.109 Name: 1: ZULKIFLI 2: ABDUL HIR 3: na 4: na Title: na Designation: na DOB: a...

...  that  insurers  and  intermediaries  should ensure  that  the  recommended  policy  is  suitable  for  the  circumstances  (e.g.  needs,  affordability, etc) of the customer.      In  case  of  affordability  mismatch  (e.g.  the  customer  has  indicated  a  target  premium  term  of  10  years  but...

...  affordability  mismatch  (e.g.  the  customer  has  indicated  a  target  premium  term  of  10  years  but  is  recommended  a  product  with  whole‐of‐life  payment  term),  insurers  should  not  accept  the  application  even with  customer  declaration (including ILAS and non‐ILAS).              (as at 12...

... PCR should be set at a confidence level calculated using 99.5% value-at-risk (“VaR”) over a one-year period. 3 8. There is general agreement with the total balance sheet approach for the measurement of risks, as well as the establishment of the two explicit solvency control levels. 9. In respect of...

... 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...

... respect of group risk (section 6.5) and the ORSA (section 9) shall apply to all authorized insurers (save for those exceptions set out in section 2.1 above). 2.3 An authorized insurer may rely on the ERM framework or policies of the group to which it belongs provided that the ERM framework or policies of...