Licence Application

Requirements for an Individual Insurance Agent Licence, a Technical Representative (Agent) Licence or a Technical Representative (Broker) Licence

• Appointment by Principal

• Compliance with the education requirements as specified in the Guideline on “Fit and Proper” Criteria for Licensed Insurance Intermediaries under the Insurance Ordinance (Cap. 41)
• Compliance with Insurance Intermediaries Qualifying Examination (“IIQE”) requirements unless exempt
• Satisfactory records on reputation or financial soundness

Requirements for a Licensed Insurance Agency

• Appointment by an authorized insurer
• Appointment of a Responsible Officer approved by the IA
• Compliance with the organizational competence requirements (e.g. corporate governance, internal controls and risk management) as specified in the Guideline on “Fit and Proper” Criteria for Licensed Insurance Intermediaries under the Insurance Ordinance (Cap. 41)

Requirements for a Licensed Insurance Broker Company

• Appointment of a Responsible Officer approved by the IA
• Maintenance of a client account with a bank in Hong Kong
• Compliance with the requirements set out in the Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules
• Compliance with the organizational competence requirements (e.g. corporate governance, internal controls and risk management) as specified in the Guideline on “Fit and Proper” Criteria for Licensed Insurance Intermediaries under the Insurance Ordinance (Cap. 41)

Application Procedures

Applicants can submit licence applications to the IA by paper submission (Forms for Insurance Intermediaries) or electronic submission via an online portal “Insurance Intermediaries Connect” (“IIC”) (currently available for individual licence application only).

A person intending to apply for an Insurance Broker Company Licence should approach the Licensing Team of Market Conduct Division of the IA to understand the relevant application procedures before submitting a formal application.