Hong Kong insurance broker：Code of Practice、Core advantages and license transfer situation

Insurance brokerage practice standards and core advantages

According to the Insurance Brokers Association guidelines，Insurance brokerage companies are required to conduct business with the highest integrity and integrity at all times，and provide independent and objective opinions。at the same time，Member companies must establish cooperation with a sufficient number of insurance companies，To meet the diverse needs of customers。

When customers plan to purchase Hong Kong insurance，Insurance brokerage companies will comprehensively evaluate various insurance products，Provide customers with professional and pertinent、unbiased advice。Since the products of various insurance companies are increasing in income、Coverage、There are differences in underwriting conditions and other aspects，Take critical illness insurance as an example，Prudential’s critical illness policy has higher value but slightly stricter underwriting，AIA’s critical illness protection coverage is wider, but the policy value is relatively low under the same conditions.。It is this comprehensive and neutral assessment ability that，constituteHong Kong insurance brokerage companycore advantages。

Hong Kong insurance brokerage license transfer situation

Transfer case one：PIBA license (long-term business)

• Transfer intention：clear
• quote：XXX million Hong Kong dollars
• Year of company establishment：2016Year
• Insurance contract signed：Mass、FT (Futong)、AXA (AXA)
• CE：negotiable，Long-term contract available，Specific price will be discussed later
• ILAS：No
• Main business：General insurance and life savings insurance

Transfer case two：CIB license (long-term business)

• Transfer intention：clear
• quote：XXX million Hong Kong dollars
• Year of company establishment：2017Year
• Insurance contract signed：No contract
• CE：Long-term contract available，Specific price will be discussed later
• ILAS：No
• Main business：General insurance and MPF business

Transfer case three：PIBA license

• Intention to sell：clear
• quote：XXX million Hong Kong dollars
• Existing contract：The company does not hold AIA and Prudential contracts，But it has signed contracts with more than a dozen insurance brokerage companies
• additional contract：Contracts from Prudential and AIA are available separately，Commission points are negotiable
• CE：Can continue to be affiliated with this company

Transfer case four：PIPA license

• quote：XXX million Hong Kong dollars
• Existing contract：AXA、Fortis、Wantong
• commission：Fortis has the highest commission，Others can be negotiated to the highest level
• CE：Can be transitionally affiliated，The fee is HKD 50,000/month
• office space：The existing office is about 200 square meters，The monthly rent is over HKD 90,000