... FT Asia Insurance Summit 2018 Seeking Strategies for Growth Regulatory Keynote Speech on 11 October 2018 Distinguished guests, ladies and gentlemen, I am delighted to be here at the Financial Times Asia Insurance Summit with the theme of “Seeking Strategies for Growth”. This is a deep and...

... FT Asia Insurance Summit 2018 Seeking Strategies for Growth Regulatory Keynote Speech on 11 October 2018 Distinguished guests, ladies and gentlemen, I am delighted to be here at the Financial Times Asia Insurance Summit with the theme of “Seeking Strategies for Growth”. This is a deep and...

... insurance policies in Hong Kong A) Customers’ Affordability Affordability Assessment 1. Premium financing (hereinafter referred as “PF”) is in substance a loan with the life insurance policy (hereinafter referred as “policy”) being used as the collateral. Customers utilising PF facilities would need to make...

... Page 1 of 2 Dear Sir/Madam HKFRS 17 Insurance Contracts The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute of Certified Public Accountants (Institute) has completed its due process for issuing a Hong Kong standard (refer Appendix 1) and has approved HKFRS 17 Insurance...

... business activities to other parties as a means of reducing costs and achieving strategic aims. These activities may include customer-related services and back-office activities. 1.2. While outsourcing may bring cost and other benefits, such arrangement may increase an insurer’s dependence on other parties...

... Insurance Business We have been informed by the Insurance Authority that according to the information provided by the Financial Services Agency (“FSA”) of Japan, some of our members are selling life insurance products to Japanese nationals where some insurers do not have a branch office in Japan. Members...

... Authority, as well as to hear and determine a question or issue arising out of or in connection with a review by the IAT. The IAT’s chairperson, who is a former judge or a person qualified for appointing as a High Court judge, shall be appointed by the Chief Executive. An IAT comprises the...

... Completion Instructions Return on Insurance Activities Introduction 1. Part A1 to A4 of this return collects information on insurance activities conducted by Authorized Insurers that are subsidiaries of authorized institutions[footnoteRef:1](“AIs”) in Hong Kong. [1: 1. “Authorized institution...

... this Guidance Note on Annual Certification for Adequate Professional Indemnity Insurance. Background CIB Membership Regulation 5.2 requires our Members to maintain Professional Indemnity Insurance (“PII”) with a minimum limit of indemnity determined with reference to their insurance brokerage income...

... Authorized Insurers or Licensed Insurance Intermediaries (1) What is the Insurance Authority’s (“IA”) role in handling insurance-related complaints? The IA is a statutory body established under the Insurance Ordinance (Cap. 41...