... apply innovation and technologies in a way that could nurture synergies with product design and service improvement. Looking beyond our domestic market, the 14th Five-Year Plan (2021-2025) released two months ago placed emphasis on acceleration of establishing a “dual circulation” development pattern....

... • Products • Customer base • Volume/nature of transactions • AML compliance employee turnover • Expected client/revenue growth 8 Process of ML/TF Risk Assessment Identify Assess Understand Risk Profile reflecting risk appetite 9 9 How to make use of outcome of ML/TF Risk Assessment? AML/CFT system • Design...

... • Products • Customer base • Volume/nature of transactions • AML compliance employee turnover • Expected client/revenue growth 8 Process of ML/TF Risk Assessment Identify Assess Understand Risk Profile reflecting risk appetite 9 9 How to make use of outcome of ML/TF Risk Assessment? AML/CFT system • Design...

... same Enterprise Risk Management (“ERM”) processes and procedures as set out in the Guideline. It provides flexibility for an insurer to design the ERM framework to accord with its own specific circumstances. An insurer is however expected to be able to demonstrate to the IA’s satisfaction how the...

... value at the time of death. Who should consider it? Young people wi th l imi ted financial means; individuals who have high protection needs for a period of time or who are looking solely for protection and have other financial plans Individuals in a strong financial s i t ua t i on w ho wa n t b o t h...

... Guideline on Corporate Governance of Authorized Insurers (“GL10”) and the factors contained in section 7.10.3 of GL21. Specifically, authorized insurers should: 4 a) capture the circumstances and sophistication of customers in the product design phase3; b) make disclosure on risks associated with VA-related...

... vulnerable to floods, buildings and infrastructure facilities should be built with flood-resistant design, critical and valuable equipment should be placed on higher floors, and contingency and recovery plans should be in place to minimize the time of business interruption when flooding occurs. For the...

... insurance brokers should first know the clients, then source from the market and recommend the insurance products that suit the needs of clients, that Members should develop, design and use their own forms or instruments to conduct the procedures. Members who use individual insurer’s forms or instruments...

... policyholders, the Insurance Authority (IA) issued guidelines* to all authorized insurers underwriting long term business. Insurers are required to meet the standards and practices stipulated in the guidelines to ensure fair treatment of customers during product design and selling, such as suitability...

...”) – For relevant premiums to qualify for tax deductions, a deferred annuity product must comply with the criteria set out in the guideline (including product design and information disclosure) issued by the Insurance Authority. More details can be found on page 7. Tax deductible MPF voluntary...