... Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules (Cap. 41L) Savings and Transitional Arrangements 23 November 2021 By Email To: Responsible Officers of all Licensed Insurance Broker Companies Dear Sirs, Insurance (Financial and Other Requirements for...

... the Pillar 1 (quantitative assessment) and Pillar 3 (disclosure) requirements and related matters under the Risk-based Capital regime and empowers the Insurance Authority (“IA”) to prescribe detailed requirements by way of subsidiary legislation.  Among other things, it also adjusts...

... comprising $446.6 billion from Individual Life and Annuity (Non-Linked) business (decreased by 3.7%), $44.6 billion from Individual Life and Annuity (Linked) business (increased by 61%), as well as $43.9 billion from Retirement Scheme business (decreased by 13.4%). Total amount of payment made to policy...

... non-F2F distribution methods Despite the fact that insurance market of Hong Kong is relatively mature and developed, there exists a noticeable structural imbalance in the life market towards insurance products with significant savings or investment elements and a glaring protection gap. The IA sees merit...

... Management (“Guideline”) in May 2018 and received comments from the insurance industry and professional bodies. We have carefully studied all comments received and revised the draft Guideline for further consultation (see Annex). The revised draft Guideline, proposed to be effective on 1 January 2020, has...

... insurance industry in 2017 amounted to $489.6 billion, representing an increase of 9.1% over 2016. Long term business The total amount of revenue premiums of long term in-force business was $441.5 billion in 2017, increased by 9.5% over 2016. Revenue premiums of Individual Life and...