If you plan to sell or act as an agent for Hong Kong insurance products，must holdHong Kong Insurance Broker License。The following is a compilation of basic information about major insurance companies in Hong Kong:，So that you can refer to the market structure。
Major insurance companies in Hong Kong and their shareholdings
The larger insurance companies in the Hong Kong market include：Prudential Insurance (00%)、AIA (90%)、China Life (90%)、HSBC (60%)、Manulife (90%) and Bank of China (90%)。
Restrictions on Hong Kong insurance companies setting up branches in the Mainland
The mainland has established regulations for foreign-invested insurance companies to operate in the form of joint ventures，Normally，Overseas insurance companies cannot set up separate branches in the mainland。The only exception is AIA Hong Kong (AIA)，It is a wholly foreign-owned insurance company；also，Hong Kong Prudential Life (also known as Metro Life)、Hong Kong AXA Insurance (Industrial Bank AXA Insurance)、Fuwei Life (Pacific Aetna Insurance)、Hong Kong Moon Life (China Hong Kong Life) and others are participating in the mainland market through joint ventures.。
Compliance requirements and potential risks
Hong Kong Insurance Laws and RegulationsClear restrictions on cross-border sales。When engaged in related business，Please note the following risks：
- legal risks：Mainland law prohibits Hong Kong insurance salesmen from directly selling Hong Kong insurance in the country，Therefore, many institutions or individuals claiming to have cooperative relationships with Hong Kong insurance brokers，Their businesses often lack legal protection。
- Exchange rate risk：Hong Kong insurance policies are usually denominated in Hong Kong dollars or US dollars，Within a 10 or 20 year payment period，There is always uncertainty about the exchange rate of RMB against the US dollar.。
- Claims risk：The claims process for Hong Kong medical insurance is relatively cumbersome，And usually the hospital is designated by the insurance company as an accredited hospital。Because there may be differences in medical judgment standards between the Mainland and Hong Kong，Pay compensation or face difficulties。
Cost structure
Holding a Hong Kong insurance brokerage license and conducting business involves the following fees:：
- Bank Accounts and Currency Settlement：Hong Kong bank accounts only accept Hong Kong dollars or US dollars，Higher handling fees。The process of using overseas credit card payment and cross-border transfer is long，Also more inconvenient。
- Appointment and medical examination fees：Applicants must make an appointment with a Hong Kong insurance company one to two days in advance.。Hong Kong has more physical examination items than the mainland，Some projects cannot be completed in mainland hospitals，Need to go to Hong Kong or choose expensive designated hospitals in the Mainland，The associated costs are higher and usually not covered by reimbursement。
Process
Application for a Hong Kong insurance brokerage license must follow the review procedures of the regulatory agency。GXT-HK13 years of experience in license processing，Can assist you in completing the entire application。Specific procedures and required documents，Welcome to consult Hong Kong Information Communication for detailed guidance.。
About Hong Kong Xintong
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