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.
2024 Policy Address: Hong Kong aims to boost marine insurance offerings
2024 Policy Address: Hong Kong aims to boost marine insurance offerings
HKIA is also pursuing opportunities with the China Export & Credit Insurance Corp.
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.
Hong Kong insurance complaints drop 10.6% in 2023
H1 2024 also recorded an 11.9% reduction in complaints.
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.
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.
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%.
Hong Kong imposes 14-year license ban on ex-Prudential agent
The agent scammed policyholders to transfer RMB2.35m into his bank account.
HKIA welcomes World Bank’s second Cat bond, worth $150m
It will offer coverage against storm risks in Jamaica.
HKIA alerts on fraudulent payment invoices
The HKIA not issue invoices for anything named "Insurance Authority Certificate" or "Capital Insurance Certificate."
Hong Kong and Macao discuss cross-market insurance issues
Discussions included topics such as the sale of life insurance products to MCVs.
HKIA takes action against ethical breach by agent
This is the 7th case the HKIA reprimanded an insurance practitioner.
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