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Procedures for applying for a Hong Kong insurance brokerage company license,Hong Kong insurance brokerage company license transfer

Financial card care question

2020The 'black swan' of the global financial crisis,The financial tsunami brings new challenges to Hong Kong’s financial supervision,The Hong Kong SAR government decided to extend supervision to the insurance industry。The Financial Services and the Treasury Bureau of Hong Kong issued a formal consultation document yesterday,It is recommended to establish an independent Insurance Regulatory Authority,Replacing the Office of the Insurance Commissioner,thereby enhancing protection for policyholders。From such aspects,Applying for a Hong Kong insurance brokerage company license will provide you with many business opportunities.。

one、To apply to establish an insurance brokerage company, you must meet the following conditions::(1) Establish insurance brokerage and professional agency companies,Its minimum registered capital limit is RMB 50 million.,(2)Have company articles of association that comply with legal requirements。(3)The company shall have no less than 30 employees,The number of employees of the company holding the "Qualification Certificate" shall not be less than 1/2 of the total number of employees of the company.。(4)Have managers who meet the qualification requirements of the China Insurance Regulatory Commission。

(5)Have a fixed business place that complies with regulations。two、A foreign insurance brokerage company that applies to establish a foreign-invested insurance brokerage company must meet the above conditions in addition to,The following conditions should also be met:(1)Good credit standing,Have not been subject to any major punishment by the competent authorities or judicial departments of the country in which they are located in the past three years。(2)Operating insurance brokerage business for more than 20 years。(3)Operating income for three consecutive years before application is no less than US$100 million。(4)Have a representative office in China for more than two years。

(5)The country has a complete insurance regulatory system。(6)The proposed managers meet the qualifications prescribed by the China Insurance Regulatory Commission。(7)Other conditions specified by the China Insurance Regulatory Commission。three、The foreign joint venturer that applies to establish a joint venture insurance brokerage company should meet the above seven requirements.,The Chinese joint venturer should be an enterprise that meets the following conditions::(1)Good credit standing,Has not been subject to any major punishment by national competent authorities or judicial departments in the past three years。(2)Be profitable for 3 consecutive years before applying。

(3)The year-end capital of the year before the application is submitted shall be no less than RMB 50 million.。(4)Other conditions specified by the China Insurance Regulatory Commission。Four、Qualifications:(1)economical、College degree or above in finance related major、Engaged in insurance work for more than 5 years,Or 10 years of working experience in finance,Or have worked in the economy for more than 15 years。

(2)economical、College degree or above other than finance-related majors,Engaged in insurance work for more than 8 years,Or 15 years of financial work or more than 20 years of economic work。(3)economical、Master degree or above in finance-related majors,Engaged in insurance work for more than 3 years,Or related products with 8 years of financial work or more than 12 years of economic work:Hong Kong insurance brokerage company license application


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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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