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New appointment of Commissioner of Insurance
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 16 2009
On 14 September 2009, Ms. Annie Choi assumed the post of Commissioner of Insurance, succeeding Mr. Clement Cheung who became Postmaster General on the same day
Insurance market performance in 2008 and 2009 to date
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 16 2009
According to the Provisional Statistics on Hong Kong Insurance Business for 2008 recently published by the Hong Kong Insurance Authority (IA), gross premiums for general insurance business increased by 11.3 to HK$27 billion and net premiums were up 12.3 to HK$19.2 billion, compared with 2007
Rising demand for yuan policies
- Edwards Wildman Palmer LLP
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- Hong Kong
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- March 12 2010
Chan Kin-por, legislator representing the insurance sector in Hong Kong's Legislative Council, recently told the South China Morning Post that many customers and insurance agents have urged him to seek a regulatory change to help the launch of yuan-denominated policies as many people believe that the yuan will appreciate in value over the next few decades and yuan life insurance policies may bring policyholders 20 to 50 growth in terms of investment returns and valuation gains
Hong Kong Life Insurance Council elected a new chairman
- Edwards Wildman Palmer LLP
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- Hong Kong
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- January 29 2010
The Hong Kong Federation of Insurers (HKFI) announced on 6 January 2010 that Mr Alex W Y Chu, Chief Executive of HSBC Life (International) Limited, has been unanimously elected Chairman of the Life Insurance Council to fill the vacancy arising from the death of Mr K.Y. To
Tightened requirements on the sale of ILAS products
- Edwards Wildman Palmer LLP
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- Hong Kong
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- February 1 2010
In September 2009, the Hong Kong Life Insurance Council (HKLIC) introduced a set of new requirements in relation to the sale of Investment-linked Assurance Scheme (ILAS) products
Hong Kong: launch of yuan-denominated policies in Hong Kong
- Edwards Wildman Palmer LLP
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- Hong Kong
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- June 21 2010
In order to tap investor expectations of a rising yuan (RMB), insurers are preparing to launch yuan-denominated policies as a new product offering for insurers in the Hong Kong market
General (non-life) insurance industry's Q1 gross premiums grow 16.2
- Edwards Wildman Palmer LLP
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- Hong Kong
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- June 22 2010
The Office of the Commissioner of Insurance in Hong Kong has announced that in Q1 of 2010, gross premiums for general (non-life) insurance business grew 16.2 to HK$9.2 billion and net premiums grew 14.4 to HK$6.5 billion compared to Q1 of 2009
Pilot scheme to permit insurers to tap China's mainland interbank bond market
- Edwards Wildman Palmer LLP
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- China, Hong Kong, Macau
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- August 26 2010
The People's Bank of China (PBC) announced on 17 August 2010 a pilot scheme to permit Hong Kong and Macau insurers, banks and certain other financial institutions, with the approval of the PBC, to invest in the Chinese mainland's 48.8 trillion renminbi (US$7.2 trillion) interbank bond market
Government proposes to establish independent insurance authority
- Edwards Wildman Palmer LLP
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- Hong Kong
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- July 28 2010
On 12 July 2010 the Secretary for Financial Services and the Treasury, Professor K C Chan, released a consultation paper entitled "Proposed Establishment of an Independent Insurance Authority"
Hong Kong: yuan liberalisation boosts insurers
- Edwards Wildman Palmer LLP
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- China, Hong Kong
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- July 29 2010
On 20 July 2010, the Hong Kong Special Administrative Region and Beijing signed an historic agreement allowing Hong Kong to become the first yuan clearing centre outside mainland China
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- Firm Name - Edwards Wildman Palmer LLP
- Author - Jeanne Kohler
- Workarea - Insurance & Reinsurance
- Jurisdiction - Hong Kong
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