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Hong Kong Insurance Industry - Governance, Risk and Compliance

Publisher GlobalData
Published Jan 12, 2024
Length 139 Pages
SKU # GBDT18815778

Description

Hong Kong Insurance Industry - Governance, Risk and Compliance


Summary

GlobalData’s ‘Hong Kong Insurance Industry - Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Hong Kong.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Hong Kong, including -
  • An overview of the insurance regulatory framework in Hong Kong.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.
  • Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.
Key Highlights
  • The IA is the regulatory body supervising and regulating the insurance industry of Hong Kong.
  • 100% foreign direct investment (FDI) is permitted in the Hong Kong insurance industry.
  • Composite insurance is not permitted in Hong Kong.
  • Reinsurers are not subject to any authorization for operating in Hong Kong.
Scope
  • The report covers details of the insurance regulatory framework in Hong Kong.
  • The report contains details of the rules and regulations governing insurance products and insurance entities.
  • The report lists and analyzes key trends and developments pertaining to the country's insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and insurance companies.
Reasons to Buy
  • Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
  • Gain insights into the insurance regulatory framework in Hong Kong.
  • Track the latest regulatory changes, and expected changes impacting the Hong Kong insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.

Table of Contents

139 Pages
HONG KONG
Legislation Overview
Supervision and Control
Legislation
Compulsory Insurance
Non-Admitted Insurance Regulations
Company Registration and Operation
License
Foreign Direct Investment / Ownership
Minimum Capital Requirements
Solvency Margins
Reserve Requirements
Statutory Return Requirements
Fee Structure
Taxation
Tax on Insurance Premium
Corporate Income Tax
Corporate Capital Gains Tax
Value Added Tax
Legal System
Policy Practice
About GlobalData
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List of Tables
Table 1: Hong Kong – Minimum Cover for Aircraft Liability Per Accident Per Aircraft
Table 2: Hong Kong – Investment limits
Table 3: Hong Kong – Variable Fee for Insurance Companies
Table 4: Hong Kong – Premium Levy Rates and Levy Caps(Professional Risks)
Table 5: Hong Kong – Premium Levy Rates and Levy Caps(Liability)
Table 6: Hong Kong – Premium Levy Rates and Levy Caps(Healthcare)
Table 7: Hong Kong – Premium Levy Rates and Levy Caps(Engineering)
Table 8: Hong Kong – Premium Levy Rates and Levy Caps(Personal Accident)
Table 9: Hong Kong – Premium Levy Rates and Levy Caps(Business Interruption)
Table 10: Hong Kong – Premium Levy Rates and Levy Caps(Property)
Table 11: Hong Kong – Premium Levy Rates and Levy Caps(Group Life)
Table 12: Hong Kong – Premium Levy Rates and Levy Caps(Individual Life)
Table 13: Hong Kong – Premium Levy Rates and Levy Caps(Employers' Liability/workers compensation)
Table 14: Hong Kong – Premium Levy Rates and Levy Caps(Motor)
Table 15: Hong Kong – Premium Levy Rates and Levy Caps - Professional Risks
Table 16: Hong Kong – Premium Levy Rates and Levy Caps - Liability
Table 17: Hong Kong – Premium Levy Rates and Levy Caps - Healthcare
Table 18: Hong Kong – Premium Levy Rates and Levy Caps - Engineering
Table 19: Hong Kong – Premium Levy Rates and Levy Caps - Personal Accident
Table 20: Hong Kong – Premium Levy Rates and Levy Caps - Business Interruption
Table 21: Hong Kong – Premium Levy Rates and Levy Caps - Property
Table 22: Hong Kong – Premium Levy Rates and Levy Caps - Group Life
Table 23: Hong Kong – Premium Levy Rates and Levy Caps - Individual Life
Table 24: Hong Kong – Premium Levy Rates and Levy Caps - Employers' Liability/workers compensation
Table 25: Hong Kong – Premium Levy Rates and Levy Caps - Motor
Table 26: Hong Kong – Corporate Tax Rates for the Financial Year 2024
Table 27: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Energy - Oil Rig
Table 28: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Energy - Operational Energy
Table 29: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Clinical Trials
Table 30: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Transit
Table 31: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Aviation
Table 32: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Marine
Table 33: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Professional Risks
Table 34: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Employers' Liability/workers compensation
Table 35: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Liability
Table 36: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024(Motor)
Table 37: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Healthcare
Table 38: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Engineering
Table 39: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Personal Accident
Table 40: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024(Business Interruption)
Table 41: HongKong – Corporate Tax Rates for the Reinsurers and General Insurers 2024 - Property
Table 42: Hong Kong – Minimum Cover for Aircraft Liability Per Accident Per Aircraft

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