Hong Kong Insurance Authority
The Hong Kong Insurance Authority (IA) is an insurance regulator established under the Insurance Ordinance (Cap. 41). The principal function of IA is to regulate and supervise the insurance industry for the promotion of the general stability of the insurance industry and for the protection of existing and potential policy holders.
See below for the Latest Hong Kong Insurance Authority News, Analysis, Profit Results, Share Price Information, and Commentary.
HKIA considers smoothing mechanism for insurance commissions structure
HKIA considers smoothing mechanism for insurance commissions structure
It also reported a 99.9% compliance rate with Continuing Professional Development (CPD) requirements.
2 days ago
HKIA sets 6% illustration rate cap on HKD policies
Caps apply only to internal rate of return used in benefit illustrations at the point of sale.
4 days ago
FuSure Reinsurance obtains Composite License from Hong Kong
The company is also exploring health, auto, pet, cybersecurity, and liability insurance.
HKIA supports budget initiatives for insurance sector
Yiu highlighted the extension of the Pilot Insurance-linked Securities Grant Scheme.
KoverNow gets greenlight from HKIA, launches app
It offers coverage for luxury goods and collectibles.
Hong Kong insurance premiums surge 12.2% in 9M 2024
The period already shows signs of a rebound from the 1.1% fall in 2023.
HKIA calls for cross-border collaboration amidst elderly protection gap
Clement Lau emphasised the role of the insurance sector in supporting the elderly.
2024 Policy Address: Hong Kong aims to boost marine insurance offerings
HKIA is also pursuing opportunities with the China Export & Credit Insurance Corp.
Singapore amends insurance bill post-Allianz deal
Key concern raised by the MCCY is the terms and structure of the deal.
New risk-based capital regime sets nuanced standards for HK insurers
A difference under HKRBC is the shift from the old Solvency I-based HKIO regime.
HKIA promotes captive insurance for overseas energy risks
MM Lee emphasised Hong Kong’s role as an int’l risk management hub.
HK plans streamlined process for overseas insurers amidst stellar performance
Chairman Yiu attributed the industry’s standing to the RBC regime.
Hong Kong’s insurance premiums climb 5.1% YoY in H1 2024
Both long-term and general business recorded YoY growths.
Court penalises agent for premium theft
A client paid $7,693 to the agent, which was later misappropriated.
Hong Kong insurance complaints drop 10.6% in 2023
H1 2024 also recorded an 11.9% reduction in complaints.
HKIA bans four, fake certificates in agent applications
Three of the individuals presented certificates from a non-existent university in China.
HKIA sets fees for insurance intermediary licences from September
It plans to use the fees for enhanced public education and training.
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