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.
Hong Kong insurance complaints drop 10.6% in 2023
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.
HKIA and SFC probe Tahoe Life's investment dealings
HKIA appointed last week joint and several managers to take control of the insurer.
Insurance authority intervenes amidst Tahoe Life financial woes
Despite appointing advisors in 2023, the insurer failed to provide deliverables.
HKFI launches check scheme for insurance agents
The scheme aims to prevent problematic agents from moving between firms.
HK's new legislation welcomed by insurance industry
The legislation advocates for international insurers to re-domicile in Hong Kong.
Hong Kong begins risk-based capital regime for insurers
This follows the enactment of the Insurance (Amendment) Ordinance 2023.
HKIA finds firms adhere to new premium financing rule
However, the inspection also identified several areas needing improvement.
HKIA slams broker with fines for poor handling
It also fined a licensed technical representative $910.
HKIA warns against unlicensed insurance sales to MCVs
New office premiums for life insurance bought by MCVs reached HK15.6b.
HKIA updates capital rules
The updated guidelines are effective 1 July.
HK warns against fake free insurance ads
The circulating ad even featured a government Dep’t logo.
HK insurers’ Q1 premiums mounts $22b in premiums
On a year-on-year basis, it climbed 12.2%.
HKIA bans two agents for false credentials
The cases occurred before the HKIA took over the regulation of insurance intermediaries in 2019.
HKIA reinforces sanctity of license to operate
Violations can result in a fine and imprisonment for up to two years.
HKIA appoints new directors for 2024-2027 term
Lee and Lui have been a member of the HKIA for six to seven years.
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