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Benefits and conditions of Hong Kong insurance broker license

Financial card care question

Hong Kong insurance brokerage、Register as an insurance broker in Hong Kong、Acting as an agent for Hong Kong insurance brokers. The main business categories of the Hong Kong insurance industry include general insurance business.、Long-term insurance (excluding linked long-term insurance) business、Long-term insurance (including linked long-term insurance) business。

Linked long-term insurance is similar to the Hong Kong Fund Fixed Investment 101 Plan (hereinafter referred to as the “101 Plan”),It is an investment-linked policy,It is a policy composed of fund investment wrapped in insurance.,Tenure generally ranges from 5 to 30 years。This type of policy focuses on the investment component,If the policyholder dies during the policy term,The beneficiary will receive an additional 1% of the account equity,A total of 101 of the net account value can be obtained,Hence the name "Project 101"。

As of December 31, 2017,There are 159 authorized insurance companies in Hong Kong (93 of which are general insurance companies)、47Home is a long-term business (or life) insurance company,The remaining 19 are general insurance companies)。Among these insurance companies,88 companies were incorporated in Hong Kong,The rest are from 22 different countries and regions,Among them, Bermuda (12 companies) ranks first,Followed by the United States (11)。

As of December 31, 2017,There are 759 authorized insurance brokers and 9,489 registered chief executives/business representatives in Hong Kong。As for insurance agents,,There were 66,380 appointed insurance agents (2,447 insurance agents and 63,933 individual agents) and 25,881 responsible persons/business representatives。 The Hong Kong Insurance Regulatory Commission only deals with two things::One is integrity、Legal business;Second, solvency。

Hong Kong is one of the cities with the highest safety index in the world;The crime rate is among the lowest in the world;Hong Kong’s medical system is sound,It also adds a lot of points to it。therefore,The world's reinsurance giant rates Hong Kong very highly,Basic protection rates are very cheap。

Insurance funds from Hong Kong insurance companies can be invested in money market funds worldwide、bonds、global stocks、Asian stocks、Industry funds、China stocks、emerging market stocks、fund of funds, etc.,Including but not limited to the above forms;Global investment in the context of globalization is the profit of Hong Kong insurance companies、Compensation funds、Important support for financial factors such as dividend leverage;It is precisely because of this,Hong Kong insurance companies can hedge risks globally。

with the same insurance conditions,Hong Kong insurance products in terms of dividends

Advantages

Can reach the level of mainland products in 30 years

  1. 5times,reached after 80 years
  2. 5times。

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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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