Insurance Authority press releases on disciplinary action, conduct and regulatory updates for insurers and intermediaries.
Translation is not available yet. Showing the Traditional Chinese version.
保監局根據《打擊洗錢條例》對友邦保險（國際）有限公司香港分行採取紀律行動，要求繳付港幣2,300萬元罰款，並提交獨立外部顧問報告確認糾正措施持續有效。查察涵蓋2016年3月至2022年10月的業務，發現打擊洗錢系統和演算法存在技術問題，部分被視為政治人物的客戶未被識別，但最終沒有不應成為保單持有人的人士成功投保。
Why read this: 罰款金額、查察涵蓋的業務年期與違反的具體條文都列明，讀者可據此核對今次處罰的尺度。
Translation is not available yet. Showing the Traditional Chinese version.
保監局歡迎百慕達金融管理局就泰禾人壽採取的協作監管行動，百慕達當局於2024年7月27日公布已獲最高法院命令委任四名聯合臨時清盤人，配合保監局7月26日委任經理接管泰禾人壽在港事務及資產。委任目的是分隔泰禾人壽的資產而非將其清盤，雙方共同確認其最新財務狀況及償付能力，並尋求可行的修復方案。
Why read this: 交代香港與百慕達兩地監管的分工，並列明獲委任人士的所屬機構，方便核對接管與臨時清盤的具體安排。
Translation is not available yet. Showing the Traditional Chinese version.
保監局今天根據《保險業條例》（第41章）第35（2）（b）條委任德勤團隊為共同及各別經理，全面接管泰禾人壽保險有限公司的事務及資產。保監局指其未提交2022及2023年度經審核財務報表，亦未兌現引入新策略投資者的承諾。所有泰禾人壽保單不受影響，經理會維持業務正常運作，保單持有人可致電2238 7006查詢。
Why read this: 公布列明了接管的法律依據、經理人選與查詢途徑，保單持有人可據此核對自身保單是否受影響及聯絡方式。
The Insurance Authority announced on 26 July 2024 that it had appointed joint and several managers to take over the affairs and property of Thai Ho Life in full, while the Securities and Futures Commission and the Insurance Authority simultaneously joined forces to tackle suspected breaches in its investment portfolio. The Insurance Authority sought assistance from the Securities and Futures Commission in May 2020, and following an inspection the Securities and Futures Commission found that assets held by Thai Ho Life had been transferred into financial instruments connected with its mainland associated companies. In June 2021, the two took joint action against a licensed fund management company, the first such action since the signing of the Memorandum of Understanding in September 2020.
Why read this: The announcement sets out the timeline from seeking assistance in 2020 to joint action in 2021, allowing verification of when the two regulators began collaborating and when the Memorandum of Understanding was signed.
The Insurance Authority urged the public to beware of several Facebook accounts named "Congratulation Winner" and three fraudulent websites, which impersonate the official website of authorised insurance intermediary The Hongkong and Shanghai Banking Corporation Limited in an attempt to obtain sensitive personal information. HSBC has confirmed that it has no connection with the accounts and websites, and the case has been referred to the Hong Kong Police Force for investigation. Those who have provided information through the links should call (852) 2233-3000 to contact HSBC and report the case to the police.
Why read this: The announcement lists the names of suspicious Facebook accounts and three fraudulent URLs, and explains which telephone number members of the public who have provided personal details should contact and report to the police.
The Insurance Authority urged the public to beware of fake websites and email domains claiming to be associated with it, saying it had recently received public enquiries about suspicious emails from senders claiming to be Insurance Authority staff using the address support@ia-org[.]com. The Insurance Authority's official email domain is @ia.org.hk and its official website is www.ia.org.hk, which are unrelated to the fraudulent address and website www[.]ia-org[.]com. Anyone who has provided personal information to the relevant website or email, or suspects they have been deceived, should immediately report the case to the Hong Kong Police.
Why read this: The announcement lists official domains alongside specific suspicious emails and URLs, allowing readers to check whether emails they have received are fraudulent.
Translation is not available yet. Showing the Traditional Chinese version.
保監局禁止保誠一名前保險代理十四年內申請牌照，因他向四名保單持有人收取共人民幣2,346,237元保費卻未全數轉交，令十張保單失效。事後尚有人民幣1,602,013元未歸還，保誠正聯絡其餘五名保單持有人提供協助或賠償。
Why read this: 個案列出被挪用的保費金額、失效保單數目與處分年期，讀者可據此核對挪用規模與懲處力度。
Translation is not available yet. Showing the Traditional Chinese version.
保監局與廉政公署首次採取聯合行動，打擊向內地客戶無牌銷售保單的貪污及違規行為。4月10日及11日兩局人員到四個處所執行搜查令，拘捕一名經紀及一名轉介人。涉案公司被指把部分保單逾九成佣金支付予無牌轉介人，並在投保申請表虛報內地客戶的年薪及資產。
Why read this: 行動披露涉案經紀把部分保單逾九成佣金支付予無牌轉介人，並列出第64G條一經定罪最高監禁兩年及罰款100萬元。
The Insurance Authority, together with the Hong Kong Monetary Authority, the Mandatory Provident Fund Schemes Authority and the Securities and Futures Commission, announced the launch of the Charter on Protecting Consumers from Fraud 2.0. Participating institutions undertake not to send instant electronic messages containing hyperlinks to customers to request personal information, to include anti-fraud messages in communications, and to strengthen frontline staff training. 230 institutions have expressed support, of which 73 are authorised insurers or licensed insurance broker companies.
Why read this: The Charter sets out specific commitments by participating institutions, and announces that 230 institutions have already pledged support, of which 73 are in the insurance sector, allowing readers to gauge the scale of insurance-sector participation.
Translation is not available yet. Showing the Traditional Chinese version.
保監局公布2023年香港保險業臨時統計數字，期內毛保費總額達$5,497億，較2022年下跌1.1%。長期業務（不包括退休計劃）新造保單保費$1,810億，上升34.2%；內地訪客新造業務全年保費$590億，佔個人業務總額32.6%，第四季進一步減少18.9%至$121億。一般保險毛保費$673億，上升4.1%，整體承保利潤由$42億跌至$8億。
Why read this: 列出毛保費總額、長期與一般業務的按年變化及內地訪客佔比，讀者可據此核對全年保險業表現。
The Insurance Authority has launched a six-week public consultation on the draft Insurance (Valuation and Capital) Rules (Cap. 41R) and the draft Insurance (Submission of Returns, Reports and Information) Rules (Cap. 41S), to facilitate the implementation of the risk-based capital regime. Views must be emailed to [email protected] or posted to the Insurance Authority's office on or before 16 January 2024. The Insurance (Amendment) Bill 2023 was passed by the Legislative Council in July this year.
Why read this: The consultation paper sets out the specific scope of two sets of draft rules and the deadline for submitting views, allowing readers to judge whether they need to respond before the cut-off.
Translation is not available yet. Showing the Traditional Chinese version.
保監局公布颱風蘇拉及黑色暴雨兩宗極端天氣事件的索償總額達HK$19億，數據來自全港104間獲授權一般業務保險公司。財產損壞及汽車為最受影響的兩項業務，分別佔索償總額86%及9%；當中HK$3.61億涉及颱風蘇拉、HK$15.4億涉及黑色暴雨，截至2023年9月30日。
Why read this: 稿件列出兩宗事件的索償總額及各項業務佔比，並註明颱風蘇拉與黑色暴雨各自的金額，讀者可據此核對保險賠付的實際規模。
Translation is not available yet. Showing the Traditional Chinese version.
保監局公布2023年首三季香港保險業臨時統計數字，毛保費總額達$4,286億，較去年同期下跌1%。長期業務新造保單保費為$1,465億，上升30.6%；內地訪客新造業務保費首三季達$468億，佔個人業務總額32%。一般保險毛保費$538億，上升4.7%，整體承保利潤由$34億降至$15億。
Why read this: 可核對首三季毛保費與內地訪客保費佔比，並對比長期與一般業務的升跌方向。
Translation is not available yet. Showing the Traditional Chinese version.
保監局根據《保險業條例》（第41章）第35(2)(a)條，委任羅兵咸永道有限公司的韋艾理先生及Peter Greaves先生出任泰禾人壽顧問，在資產和財產管理、投資策略及向保單持有人派發分紅等範疇提供支援。保監局表示措施是加強內部管控和企業管治的進一步措施，公司日常運作及有效保單的條款和細則不會改變。
Why read this: 公布列明委任的法例依據、顧問所屬公司與負責範疇，並說明有效保單條款不會改變。
Translation is not available yet. Showing the Traditional Chinese version.
保監局歡迎立法會於2023年7月6日通過《2023年保險業（修訂）條例草案》，為香港保險業實施風險為本資本制度提供法律框架。保監局將展開草擬詳細要求的籌備工作，其後就附屬法例進行公眾諮詢，目標在2024年實施風險為本資本制度。
Why read this: 新聞稿列出了後續公眾諮詢安排和2024年實施目標，讀者可據此掌握風險為本資本制度的時間表。
The Insurance Authority welcomes the formal implementation of the Guangdong-Hong Kong cross-boundary motor insurance "mutual recognition" policy. From July 1, Hong Kong private car owners entering Guangdong Province through the "Hong Kong vehicles travelling north" scheme who purchase a Hong Kong policy complying with the Motor Vehicles Insurance (Third Party Risks) Ordinance (Cap. 272) may have their coverage extended to the mainland compulsory traffic accident liability insurance, without the need to purchase separate policies in both places. Currently, 16 Hong Kong insurers are ready to launch "mutual recognition" products.
Why read this: The announcement specifies the effective date, the change in coverage under a single policy, and the number of insurers ready, allowing the actual arrangements to be verified.
The Insurance Authority alerts the public to the unauthorised "Hong Kong Prudential Insurance Company Limited", whose insurance-related registered name has not been approved by the Insurance Authority. It is neither an authorised insurer nor a licensed intermediary and cannot carry on insurance business in Hong Kong. Prudential General Insurance Company Limited and Prudential Insurance Company Limited have confirmed they have no association with it. Those who have provided personal information to it or transacted with it should consider reporting the matter to the police.
Why read this: The press release names the unauthorised company and states that contravening section 120 of the Insurance Ordinance carries a fine of HK$200,000 and imprisonment for 2 years, allowing readers to verify against the register.
The Insurance (Amendment) Bill 2023 was gazetted on 6 April 2023, providing the legal framework for implementing a risk-based capital regime for Hong Kong's insurance industry, which the Insurance Authority welcomed. The regime requires insurers to maintain capital levels commensurate with the risks they assume, comprising three pillars: quantitative assessment, corporate governance and risk management, and disclosure requirements. The Bill provides the legal basis for the first and third pillars.
Why read this: The Bill still requires scrutiny by the Legislative Council after gazettal. The article sets out the division of roles among the three pillars and notes that the second pillar is already covered by guidelines effective since 2020, allowing readers to understand the progression of capital requirements for insurers.
The Insurance Authority published provisional statistics for Hong Kong's insurance industry in 2022, with total gross premiums of $556 billion, down 7.7% from the same period last year. Long-term business premium income was $491.4 billion (down 9.1%), while gross premiums for general insurance were $64.6 billion (up 4.5%); new business premiums from mainland visitors were $2.1 billion, up 200.3%.
Why read this: Besides the 7.7% fall in overall gross premiums, new business premiums from mainland visitors rebounded 200.3%, with the rise and fall offering a comparison of the insurance industry's performance last year.
The Insurance Authority alerted the public to fraudsters impersonating insurance intermediaries of Sun Life Hong Kong to send WhatsApp loan messages, and luring them into downloading malware or logging into the scam website http://sun-lifegroup.com. Sun Life confirmed it was not involved in the incident and has referred the matter to the Hong Kong Police Force for investigation; anyone who has provided information or made transactions should call 2103-8928 and report to the police.
Why read this: The Insurance Authority lists the impersonated companies, scam websites and customer service hotlines, allowing affected members of the public to check them one by one and report to police in accordance with the guidelines.