... Insurers Carrying on Long Term Business The Insurance Authority (“IA”) is responsible for overseeing the compliance of, amongst others, authorized insurers carrying on long term business (“insurers”) with the relevant requirements under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance...

... Overview Implications 12 Social Implications • Low interest rate and excess liquidity • Decent economic and salary growth • Desire to preserve wealth • Aggressive investment appetite • Bank deposits unable to hedge against inflation Market implications • Poor awareness of risks exposure • Focus on...

... Overview Implications 12 Social Implications • Low interest rate and excess liquidity • Decent economic and salary growth • Desire to preserve wealth • Aggressive investment appetite • Bank deposits unable to hedge against inflation Market implications • Poor awareness of risks exposure • Focus on...

... Overview Implications 12 Social Implications • Low interest rate and excess liquidity • Decent economic and salary growth • Desire to preserve wealth • Aggressive investment appetite • Bank deposits unable to hedge against inflation Market implications • Poor awareness of risks exposure • Focus on...

... (RBC) Regime Further to our letter dated 6 August 2018 regarding the launch of QIS 2 for the development of the RBC regime, the Insurance Authority (“IA”) has finalized the remaining package of template and technical specifications on matching adjustment for insurers carrying on long term business (“MA...

... billion of Retirement Scheme business (increased by 72.7%). On the other hand, new office premiums (excluding Retirement Scheme business) of long term business were $35.1 billion (decreased by 27.5%), made up of $32.5 billion related to Individual Life and Annuity (Non-Linked) business...

... Report”) published by the Financial Action Task Force (“FATF”) and Asia/Pacific Group on Money Laundering (“APG”) on 4 September 2019. The ME Report provides an assessment in regard to the compliance and effectiveness of Hong Kong’s anti-money laundering and counter-terrorist financing (‘AML/CTF”) regime...

... Regulatory Reminders Mystery Shopping Programme on Selling Practices of Qualifying Deferred Annuity Policies in Hong Kong December 2023   In 2022, a joint Mystery Shopping Programme (“MSP”) was conducted by the IA, the MPFA and the Hong Kong...

... general insurance, you will find actual cases of general insurance claims, which are there mainly to facilitate your understanding of the subject and to make your learning more interesting. The decisions you will find in those cases were based on their particular facts, including the actual wording used...

... industry rules, including the Guideline on the Use of Internet for Insurance Activities (GL 8) and Guideline on Cybersecurity (GL 20), issued by the Insurance Authority (IA) to protect existing and potential policyholders. If an insurer wants to provide sales via video conference, it is required...