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 publish the 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 to take out long term insurance policies. It serves as a reference for institutions to review their internal controls and ensure adherence to the standards set forth in the related April 2022 circular.
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