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Hong Kong insurance brokerage license transfer:Acquisition background review、Transfer process and contract resources

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Hong Kong insurance brokerage market and licensing resources

The development of Hong Kong’s insurance brokerage market is mainly due to the prosperity of foreign insurance companies.,Rather than the promotion of local insurance culture。Prudential、Metrohm、Well-known brands such as Asia AIA are foreign insurance companies。Mainland insurance brokerage market lags behind in development,And foreign capital entering the mainland must be controlled by domestic capital,Therefore, many foreign investors choose to set up insurance companies in Hong Kong。As of May 8, 2018,The Hong Kong Insurance Consultants Association and the Hong Kong Professional Insurance Brokers Association jointly issued a total of 762insurance broker license。currently on the marketHong Kong insurance brokerage company transferResources include no-contractQingshui brand(not signed with any insurance company) and already with AXA、Prudential、An asset-backed company that signs contracts with insurance companies such as AIA。

Acquisition background and contract review points

When acquiring a Hong Kong insurance brokerage company and transferring resources,Must know in detailAcquisition targetbackground status,Including the commission ratio and validity period of the insurance contract。For customers who lack actual acquisition experience,It is recommended to entrust a professional organization to conduct due diligence and assessment,To accurately grasp the real situation of the transferor。

transfer process

During the transfer process of Hong Kong insurance brokerage company,The information changes involved are more complex,Need to confirm one by oneChief Executive (CE)Whether and how to change,Does the existing insurance contract need to be re-signed?,And whether it is necessary to provide details such as a description of the source of funds.。Proper handling of these matters is the key to successfully completing the transfer。


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

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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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Hong Kong and Chinese team · Senior financial compliance experts