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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
"High-risk pool" to take heat off health insurers
- Edwards Wildman Palmer LLP
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- Hong Kong
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- August 11 2010
The Government of the Hong Kong Special Administrative Region (the Hong Kong Government) is considering subsidising a separate insurance pool to cover Hong Kong residents at high risk of medical complications (defined as those with medical costs expected to be more than 200 of those of healthy individuals) or those with pre-existing medical conditions (high-risk individuals) who sign up to a proposed voluntary medical scheme (the Scheme) that will be generally open to all Hong Kong residents
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
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"
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
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
Insurers win at Court of First Instance in Severe Acute Respiratory Syndrome claim dispute
- Edwards Wildman Palmer LLP
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- Hong Kong
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- May 12 2010
In World Harbourview Hotel Co. Ltd & Others v ACE Insurance & Others 2010 HKCFI 327, the High Court of the Hong Kong Special Administrative Region Court of First Instance considered a claim filed under insurance policies in respect of business interruption suffered as a result of the outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003
The effect of an arbitration agreement in an insurance policy
- Edwards Wildman Palmer LLP
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- Hong Kong
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- March 30 2010
The recent High Court judgment in Rondabosh International Ltd v China Ping An Insurance (Hong Kong) Co Ltd 2009 HKEC 2103 demonstrates the effect of an arbitration agreement in an insurance policy
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
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
Current Search
- Workarea - Insurance & Reinsurance
- Author - Victoria Anderson
- Jurisdiction - Hong Kong