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, ICAC target suspected unlicensed insurance sales to mainland China
The first joint operation led to the arrest of a broker and a referrer.
HKIA, ICAC target suspected unlicensed insurance sales to mainland China
The first joint operation led to the arrest of a broker and a referrer.
Unethical conduct results in harsh HKIA ban
The agent was found pocketing a policyholder’s deposits, causing a policy relapse.
HSBC Life tops Hong Kong’s insurance industry in 2023
HSBC Life’s business premium amongst the biggest market share contributors.
Hong Kong’s insurance premiums dip in 2023
Its long-term business witnessed a contraction, whilst its general segment registered growth.
HKIA’s annual report shows push for global centre status
The report outlined the authority’s initiatives in the past year, including passing the Insurance (Amendment) Bill 2023.
HKIA warns of risks in premiums financing, “double-edged sword”
The authority urges insurers to seek professional advice before premium financing.
HKIA applauds Article 23 consultation for legal enhancement
This initiative hopes to improve the legal regime of the industry in Hong Kong.
HKIA announces new executive director
Two executive directors will be appointed soon to oversee long-term and general business.
HKIA rules face 2024 overhaul, await legislative approval
There are four draft rules covered in the second round of consultation.
Two extreme typhoons push claims incurred to HK$1.9b – HKIA
Property damage and motor businesses were the two most affected lines of business.
HKIA seeks public input on subsidiary legislation for risk-based capital regime
This consultation comes after the implementation of the Risk-based Capital (RBC) regime.
HKIA imposes five-year ban on ex-insurance agent
The former agent mishandled and misappropriated premium payments from two policyholders.
Hong Kong imposes six-month ban on Chan Ka Hey for fabrication
To deceive the insurer and his employing bank, Hey fabricated a new DDA form with a cut-out of the client’s signature, without consent.
Hong Kong Insurance Authority reappoints CEO
His reappointment is effective 15 August 2023 to 14 August 2026.
Gross premiums of HK general insurance soar 4.5% in FY2022
The industry earned $64.6b.
HK Insurance Authority launches new QDAP selection tool
Users can choose and compare any available QDAP policies using the search tool.
Hong Kong rolls out roadmap to boost insurance sector
The roadmap seeks to enlarge insurance firms’ access to other markets amongst others.
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Commentary
Ginza-style commercial building in neighbourhood areas attracts local consumption