Hong Kong and Macao discuss cross-market insurance issues

Discussions included topics such as the sale of life insurance products to MCVs.

The Hong Kong Insurance Authority (HKIA) and Monetary Authority of Macao (AMCM) recently congregated to discuss addressable issues and interest in conducting insurance business in both markets.

Peter Gregoire, Head of Market Conduct and General Counsel, along with Maria Tsui, Head of Enforcement, led a delegation from the HKIA in a recent meeting with counterparts at the AMCM.

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Discussions included topics such as the sale of life insurance products to Mainland China visitors (MCVs) and enforcement strategies to combat unlicensed cross-boundary selling.

Both parties agreed to maintain close dialogue and enhance collaboration to promote the healthy and sustainable development of their respective insurance markets.