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Explanation on application and transfer of Hong Kong insurance brokerage license

Financial card care question

详细介绍香港保险业及经纪公司综合分析香港保险经纪公司是持牌的保险中介法团,Represent the interests of customers in bidding and inquiry for customers in the market、购买性价比的产品组合。Hong Kong Insurance Authority("Insurance Regulatory Bureau")Since June 2017, it has officially replaced the Insurance Regulatory Office to take over the supervision of Hong Kong insurance companies.,Currently through supervisory self-regulatory bodies("Self-regulatory body")Regulation of insurance intermediaries。

The three self-regulatory organizations are the Insurance Agents Registration Committee established by the Hong Kong Federation of Insurance Companies.、Hong Kong Insurance Consultants Association and Hong Kong Professional Insurance Brokers Association;Within 2 years of the implementation of the Insurance Ordinance,The Insurance Regulatory Authority plans to take over the supervision of insurance intermediaries from three self-regulatory agencies,and implement a statutory licensing system。

Application conditions

  1. Must be a company incorporated in Hong Kong or an overseas company registered with the Hong Kong Companies Registry。

Have a physical office address、Company account。

  1. Sufficient equity:Insurance brokerage companies are required to maintain a low net asset value and low paid-up share capital of less than HK$100,000 at all times。
  2. Compliance CEO:1name,Must be a full-time director or full-time employee of the company’s business in Hong Kong。Professional Civil Compensation Insurance - Adequate Payment Reserves:Policy financing is not less than HKD 3 million,The maximum amount is HK$75 million。

The premium is generally about HK$10,000/year. Information about Hong Kong insurance brokerage companies,First of all, the functions of Hong Kong insurance brokers and mainland insurance brokers are actually similar.,都是站在客户的角度合理选择保险产品帮客户达到利益大化达到大的保障。Therefore, an insurance brokerage company generally has many contracts with insurance companies.,This refers to relatively mature insurance brokerage companies.。

Of course, if you are just starting out in this industry,I’m not too clear about this market either.,It is relatively difficult for such an insurance brokerage company to,Generally, there are not too many insurance contracts.,This is just for word of mouth.。And for such people, we generally recommend that they apply for a new insurance brokerage license or acquire a Qingshui brand.,This is relatively low cost。

Intention to sell the transferred Hong Kong insurance broker Clearwater license (without any insurance company contract) :Clear quotation:Xx00,000 Hong Kong dollars (price can be negotiated) Company situation:Qingshui brand licensed by CIB,Three major insurance contracts at hand。The company was established in 201X,No business,Liquid capital:10W。

Hong Kong insurance broker license takes into account the general financial resources of the insurance broker,and net worth as a source of funds for professional indemnity insurance deductibles,Recommendations from the Hong Kong Regulatory Authority,Insurance brokerage company according to rules,Introduction of cap on the amount of deductible required to be carried out under professional indemnity insurance,and at the end of the financial year immediately preceding the effective date of the professional indemnity policy,50% of net assets。Thank you for your attention original


About Hong Kong Xintong

Hong Kong Xintong focuses onHong Kong Securities and Futures Commission licenseHong Kong Insurance Broker LicenseHong Kong MSO Licenseandmoneylenders licenseApply for service,Assist customers to applyUS MSB license、NFA、RIA、Canadian MSB license、Mainstream overseas financial licenses such as Australia and Mexico,Support enterprises to achieve compliance expansion of cross-border financial business。Also availableCayman Islands Offshore Company Registration、Offshore fund establishment and global compliance operations and other services,Help enterprises expand their presence in international markets。Provide one-stop compliance solutions for enterprises。To learn more,Please contactHong Kong Information Communications Consultant

Editing of articles in this issue:

Picture of Xu Wanting

Xu Wanting

Xu Wanting has been engaged in insurance and financial services compliance work in Hong Kong for many years,Responsible for the preparation of IA insurance brokerage regulatory compliance documents、Internal control process construction、AML system design、Regulatory filings and interactions with regulators。She is familiar with insurance product liability、sales compliance、Institutional requirements such as customer protection regulations and establishment of internal training and compliance systems。

Areas of expertise:IA Insurance Brokerage Regulatory Compliance Documentation、Internal control process construction、AML system design、Customer protection regulations、Internal training。

Previous institutions:Hong Kong insurance brokerage company & IA Compliance Team

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