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Hong Kong insurance broker license application conditions and procedures

Financial card care question

recent years,It is common for mainland Chinese to flood into the Hong Kong insurance market to purchase insurance.,According to the previous data from 2005-2014 collected by the Hong Kong Insurance Regulatory Office,The nearly 13-fold increase from 1.8 billion to 24.4 billion is enough to illustrate this phenomenon.,While the insurance industry is developing,Faced with countless insurance products,Policyholders are more likely to use insurance brokers to help formulate insurance plans,in Hong Kong,Such a company needs to apply for a Hong Kong insurance brokerage license。

Hong Kong has a high degree of openness to the outside world,Insurance awareness is also generally relatively high,Hong Kong insurance products are also increasingly favored by people at home and abroad,Under this market demand,Insurance brokerage companies have been established one after another,Hong Kong Insurance Broker License

Application conditions

This is the first thing insurance brokerage companies need to know,Without an insurance brokerage license, you are not qualified to start insurance activities.。

————[Manager Peng Yi] International–Manager Peng Yi——Currently,Due to the dissolution of the Hong Kong Insurance Regulatory Commission,The Hong Kong Insurance Regulatory Authority is responsible for the main review and approval work of Hong Kong insurance brokerage license applications。Because Hong Kong’s policies are different from mainland China’s policies,Insurance Regulatory Bureau

Require

Units engaged in the insurance brokerage industry need to hold relevant qualifications,Qualification application needs to meet the following requirements

Application conditions

and process。

The qualifications authorized by the China Insurance Regulatory Commission are mainly considered from the following aspects:,Qualifications and experience、Share capital and net assets、professional indemnity insurance、No separate customer accounts are kept、Account book documents for verification, etc.。first,Hong Kong Insurance Broker License

Application conditions

middle,

Require

The insurance broker or its chief executive must be at least 21 years old,And for household registration、Educational qualifications、experience respectively

Require

,Qualifications need to be verified through relevant qualification examinations。

————[Manager Peng Yi] International–Manager Peng Yi——After adding the corresponding conditions,You can go to the Hong Kong Insurance Regulatory Bureau to complete the registration process,Submit materials for Hong Kong insurance brokerage license

Application process

,Insurance brokerage unit authorized by the Insurance Regulatory Bureau,Must submit audited annual financial statements to the IA,and submit an auditor's report on whether it continues to comply with the minimum requirements of the Insurance Authority。

Members of an authorized insurance brokerage body are required to submit audited annual financial statements to their body,Hong Kong insurance broker license

Application conditions

Understanding the process will help you carry out the application process。【Manager Peng Yi】International–Manager Peng Yi has ten years of experience in Hong Kong insurance brokerage license agency,Hong Kong has professional service staff,Familiar with the approval policies of the Hong Kong Insurance Regulatory Authority,If you have any questions,Please contact [Manager Peng Yi] International–Manager Peng Yi


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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