... supervise an insurance group, is empowered to designate an insurance holding company belonging to that insurance group as a designated insurance holding company (“DIHC”). After designation, the IA will have the following direct regulatory powers over the DIHC &ndash...

... (decreased by 28.8%) and $2.5 billion from Linked business (decreased by 6.2%). One year after the launch of Qualifying Deferred Annuity Policy (QDAP) in April 2019, around 133,000 such policies have been sold as at the end of March 2020, contributing total premiums amounting to $9.4 billion. The...

... involved in relation to premium financing. Insurance intermediaries are required to fully explain to the customers the contents of IFS-PF as soon as they become aware of the customers’ intention in the use of premium financing after making sufficient enquiries. The customers concerned are required to...

... to Canada to visit his grandmother for two months. When he returned to Hong Kong after the long vacation, he discovered that his flat had been burgled when he was away, and several luxury watches and handbags had been stolen. Mr. Chan had purchased home insurance, so he made a claim to the insurer...

... from profit of $191 million to loss of $252 million, while profit for the latter plummeted by 46.5% to $424 million upon resurgence of claims after full resumption of economic activities. On reinsurance inward business, the gross and net premiums were $10 billion (increased by 10.8%) and $4.6...

... Macroprudential Monitoring Working Group of the International Association of Insurance Supervisors (IAIS) taking place earlier this week. “We are pleased that the visitors could have an opportunity to experience the vibrancy and vitality of Hong Kong as an international financial centre after recovering...