Regulatory Alerts2024-06-27
Added · Updated
Findings from IA-HKMA Joint Inspection Exercise on Premium Financing
The Insurance Authority and the Hong Kong Monetary Authority issued this circular to disseminate findings from their joint inspection exercise on premium financing practices. The document outlines regulatory expectations and compliance requirements for authorized institutions regarding the use of premium financing for long-term insurance policies. It serves as a guidance reference to ensure institutions maintain robust controls and adhere to relevant regulatory standards in this area.
CIR
Current
Issue Date:
27 Jun 2024
20240627-1-EN.pdf (230.1 KB)
Topic:
Miscellaneous - SFC/IA/MPFA
Wealth Management & MPF - Insurance products
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
Annex
Current
27 Jun 2024
Annex - Findings from IA-HKMA joint inspection exercise on premium financing
CIR
Current
01 Apr 2022
Use of Premium Financing to take out Long Term Insurance Policies
CIR
Current
01 Apr 2022
Use of Premium Financing to take out Long Term Insurance Policies
Enclosure 1: IA circular of 1 Apr 2022
Annex
Current
27 Jun 2024
Annex - Findings from IA-HKMA joint inspection exercise on premium financing
CIR
Current
01 Apr 2022
Use of Premium Financing to take out Long Term Insurance Policies
CIR
Current
01 Apr 2022
Use of Premium Financing to take out Long Term Insurance Policies
Enclosure 1: IA circular of 1 Apr 2022
Version History
Superseded Document
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