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Results: 1-10 of 97

Professional indemnity cover - a cautionary tale

  • Kennedys
  • -
  • Hong Kong
  • -
  • May 9 2008

Professional indemnity insurance (PII) is very much part of professional business life

SFC clarifies licensing requirements for the promotion, offer or sale of investment-linked assurance schemes

  • Norton Rose LLP
  • -
  • Hong Kong
  • -
  • September 11 2009

The SFC has announced that it will not license insurers, corporate insurance brokers and individuals who are insurance agents or insurance brokers (insurance intermediaries) for promoting, offering or advising on investment-linked assurance schemes (ILAS) as ILAS are not regarded as securities

Court sanctions transfer of business of Transamerica Occidental Life Insurance Company

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • October 20 2008

On 24 September 2008, the High Court of Hong Kong sanctioned the transfer of the long-term business of Transamerica Occidental Life Insurance Company ("TOLIC") carried on from Hong Kong to Transamerica Life Insurance Company ("TLIC") which had established a Hong Kong branch for the purpose

Premium growth in Hong Kong insurance industry

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • October 21 2008

The Hong Kong insurance industry recorded growth in total gross premiums during 2007 of over 26 percent, newly released figures reveal

HKFI presents a protection fund proposal

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • June 17 2009

The Government of Hong Kong has long planned to establish a safety net for Hong Kong policy holders in the event of an insurance company collapse

Doing business in Hong Kong - ongoing regulatory requirements

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • March 3 2009

In addition to the requirements for an insurer to be authorised to carry on insurance (whether general business or long term business and whether as a direct insurer, composite insurer, reinsurer or captive insurer) in or from Hong Kong (as described in our companion guidance note on the 'Authorisation of insurers in Hong Kong') there are a number of continuing regulatory requirements that the insurer will need to satisfy on authorisation and thereafter

Insurance premiums and registered agents increase but underwriting profits suffer

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • March 17 2009

Premiums on direct and reinsurance inward business in Hong Kong grew by over 11 in the first nine months of 2008, according to the latest figures available from the Office of the Commissioner of Insurance (OCI

New appointment of Commissioner of Insurance

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • 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

SFC clarifies the licensing requirements for the promotion, offering or sale of ILAS to the public

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • October 16 2009

The Hong Kong Securities and Futures Commission ("SFC") recently issued a circular clarifying that insurers, corporate insurance brokers and individual insurance intermediaries are not required or permitted to be licensed by the SFC under the provisions of the Securities and Futures Ordinance ("SFO") (Chapter 571 of the Laws of Hong Kong) to engage in promoting, offering or selling investment linked assurance schemes ("ILAS") to the Hong Kong public (the "Circular"

Insurance market performance in 2008 and 2009 to date

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • 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

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