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Supervision > Regulation of Insurers and Lloyd’s > Requirements on Lloyd’s

Regulatory Requirements on Lloyd’s

Lloyd’s is subject to similar regulatory requirements applicable to other authorized insurers. During any period when a member of Lloyd’s is carrying on insurance business in Hong Kong, Lloyd’s, a member of Lloyd’s and the members of Lloyd’s taken together shall comply with the requirements under the special provisions relating to Lloyd’s as contained in Part VII of the Insurance Ordinance (Cap. 41) (“IO”). The requirements include:

  • solvency margin requirement;
  • fitness and properness of authorized representative of Lloyd’s;
  • reporting requirements;
  • maintenance of local assets in Hong Kong; and
  • regulation on insurance intermediaries.

Lloyd’s is also subject to the interventionary powers and certain regulatory powers of the Insurance Authority under the IO.