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Transfer of long-term business and the court's role
- Edwards Wildman Palmer LLP
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- Hong Kong
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- April 18 2013
This case concerned a petition presented jointly by AXA (Hong Kong) Life Insurance Company Limited (AXA (HK)) and AXA China Region Insurance Company
Challenging years ahead for the insurance industry
- Edwards Wildman Palmer LLP
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- Hong Kong
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- February 19 2013
Hong Kong has one of the most developed and competitive insurance markets in Asia. Commentators observe that Hong Kong is over-serviced by insurance
Regulatory changes on disclosure of insurance brokerage commission to be implemented on 15 April 2013
- Edwards Wildman Palmer LLP
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- Hong Kong
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- November 13 2012
In January 2012, we wrote about the landmark decision by the High Court in Jeremy Paul Egerton Hobbins v Royal Skandia Life Assurance Ltd & Anor., HCCL 15 of 2010
Insurance authority issued guidance note on outsourcing (GN14)
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 31 2012
In view of the increasing popularity of outsourcing customer-related and back-office business activities by financial service institutions to other parties as a means of reducing costs and achieving strategic aims, the Hong Kong Insurance Authority recently issued a Guidance Note on Outsourcing (GN14
Public consultation on key legislative amendments to the Insurance Companies Ordinance
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 26 2012
The Government launched on 26 October 2012 a three-month public consultation on key legislative amendments to the Insurance Companies Ordinance (Cap.32) (ICO) for the establishment of an independent Insurance Authority (IIA
Insurance Authority issued guideline on anti-money laundering and counter-terrorist financing
- Edwards Wildman Palmer LLP
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- Hong Kong
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- October 16 2012
The Hong Kong Insurance Authority recently issued a Guideline on Anti-Money Laundering and Counter-Terrorist Financing and a Guideline on Exercising Power to Impose Pecuniary Penalty
Disclosure of insurance brokerage commission
- Edwards Wildman Palmer LLP
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- Hong Kong
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- September 7 2012
In a landmark case earlier this year, the Hong Kong Court of First Instance decided that commissions received by an insurance broker from an insurer do not constitute illegal secret profits provided that they do not exceed what is normally paid in the insurance market
Landmark decision on disclosure of Insurance Brokerage Commission
- Edwards Wildman Palmer LLP
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- Hong Kong
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- January 30 2012
Over the years, there has been much debate that the practice of the insurance market in allowing an insurance broker (acting as the agent of the assured) to receive commission from the insurer may contravene the equitable principle that an agent cannot make a profit from his office without disclosing the profit to his principal (the assured
Hong Kong insurance brokers are allowed to set up in Guangdong province
- Edwards Wildman Palmer LLP
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- China, Hong Kong
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- January 27 2012
On 13 December 2011, the eighth supplement (Supplement VIII) to the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and Mainland China was signed, marking the latest enhancement of economic and trade cooperation between Hong Kong and the Mainland
Hong Kong: SFC warns surveillance on the KFS and revised offering documents
- Edwards Wildman Palmer LLP
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- Hong Kong
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- December 2 2011
On 25 June 2010, the Hong Kong Securities and Futures Commission ("SFC") promulgated the SFC Handbook for Unit Trusts and Mutual Funds, Investment-Linked Assurance Schemes and Unlisted Structured Investment Products under which all SFC-authorised funds and investment-linked assurance schemes are required to provide investors with a Product Key Facts Statement and an offering document that satisfy a number of disclosure requirements as set out in the SFC Handbook
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- Firm Name - Edwards Wildman Palmer LLP
- Workarea - Insurance & Reinsurance
- Jurisdiction - Hong Kong
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