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Hong Kong’s insurance industry is improving,How does a mainland company apply for a Hong Kong brokerage license?,How much does that cost?

Financial card care question

Hong Kong’s insurance industry has always been a huge market,Not only local residents of Hong Kong,in recent years,Mainland people are keen on purchasing Hong Kong insurance products,To a certain extent, it has promoted the development of insurance-related industries.,in,The development momentum of the insurance brokerage industry is relatively good,Same as mainland,Carrying out insurance brokerage business in Hong Kong requires the support of corresponding qualifications,An application for a Hong Kong insurance broker license needs to be submitted to the Hong Kong Insurance Authority。

Unlike insurance agents,Insurance brokers represent the interests of policyholders,That is to say,Insurance brokers are not tied to an insurance company.,He can objectively start from the actual needs of the policy holder.,And combine it with the insurance products available on the market to customize insurance plans that suit your needs.,certainly,This professionalism for insurance brokers

Require

also relatively high,If the unit has not applied for a Hong Kong insurance brokerage license, it will not be able to provide relevant services to customers.。

So today we will focus on the Hong Kong insurance brokerage license

Application process

to expand,Let mainland people who are interested in opening up the insurance market in Hong Kong have a certain understanding of Hong Kong's approval policies。There has been a significant increase in the number of mainland Chinese investing in and setting up Hong Kong insurance brokerage companies in Hong Kong.,In addition, after the dissolution of the original Insurance Authority and the transfer of power to the Hong Kong Insurance Authority,,Relevant approvals are also gradually tightened,Being unfamiliar with the policies also makes it more difficult to carry out application work.。

Get a Hong Kong Insurance Broker License

Application process

Before,Applicants must first determine whether they meet the following conditions,Want to set up an insurance brokerage company in Hong Kong,In ensuring paid-in capital、Adequate solvency reserves、managers、Shareholder candidates、Provided adequate reinsurance arrangements are in place,Relevant applications can be made to the Hong Kong Insurance Regulatory Authority。

After receiving the application materials, the Hong Kong Insurance Regulatory Authority,Conduct material review within specified cycles,Insurance companies conducting general business,Additional annual audited business statements and balance sheets prepared for general business in Hong Kong are required to be submitted to the Hong Kong Insurance Authority,Policies involving Hong Kong,Insurance Broker License in Hong Kong

Application process

It is also different from the mainland’s policies。


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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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