Hong Kong Insurance Broker Company Licence

Insurance brokers typically operate on behalf of policyholders or potential policyholders, Negotiate or arrange insurance contracts, or provide advice on insurance matters. Whether the specific activity is a regulated activity and the license required, Should be in accordance with the Insurance Ordinance, Role, Judgment of location and actual process.

According to sections 3 and 4 of Chapter 41L, A licensed insurance brokerage company must at all times maintain a paid-up share capital of not less thanHKD 500,000, and maintain net assets of not less thanHKD 500,000. The two requirements cannot simply be understood as two additional payments.; Net assets must be calculated according to rules. Professional indemnity insurance and actual working capital will be arranged separately, There is no uniform legalHKD 800,000operating budget threshold.

The responsible officer must be approved by the Insurance Authority and be a fit and proper person, qualifications, experience, Authority and performance requirements. Residence, Educational qualifications, take an exam, experience, Management experience and exemptions are assessed on a case-by-case basis by candidate and business type, Cannot always be written as permanent resident, Undergraduate and fixed-year combination.

Prepare insurance cooperation or other supporting information based on the 2026 insurance brokerage company application list and proposed application categories. quantity, Issuing subject, The content and whether it can be merged shall be subject to the submission list and the Insurance Authority (IA)’s case notification..

Whether a client account is required depends on whether client money is received or held and the specific application of Chapter 41L. Compliance accounts must be used when client money is involved, Limit usage and perform reconciliation and authorization controls; The account name and notification documents are subject to current rules and bank requirements..

PII is professional indemnity insurance, Used to protect professional liability claims arising from breach of duty in brokerage businesses. Regulation 5 of Chapter 41L, The indemnity limit for the first 12 months of operation is not less thanHKD 3,000,000; Thereafter, the brokerage income for the previous 12 consecutive months is generally taken as twice the amount (maximumHKD 75,000,000)andHKD 3,000,000the higher of. Limits must apply per claim and per 12-month policy period, and have at least one automatic reinstatement; The deductible and application documents will be checked according to rules and regulatory notices..

Internal control documents typically cover governance, Sales and Operations, complaints, training, client money, AML/CFT and record keeping. Specific document names and depth should be consistent with the business plan, products, Client and outsourcing arrangements consistent, and pressInsurance Authority (IA) Brokerage Company Informationrenew.

FNA is Financial Needs Analysis, RPQ is Risk Orientation Questionnaire. Is it necessary, How to use and what records to keep, Should be pressed by product, Judgment of sales situation and current guidance of the Insurance Authority (IA), Do not apply the same set of forms mechanically to all general insurance and long-term insurance.

The Insurance Authority (IA) has not committed to a unified review and approval cycle in the information on this page.. Prepare, information requests, People and control structure, Business complexity and regulatory inquiries will affect time, Should be planned on a case-by-case basis and allow time for replacement..

Responsibilities of the person responsible for the insurance brokerage and the money lending business should be checked separately, Appropriate candidates and actual time commitment. Part-time employment does not mean automatic approval, Conflicts of interest should not be resolved solely by additional declarations or pseudonyms.; Specific arrangements should be confirmed with the relevant competent authorities.

Non-Hong Kong persons are not automatically excluded. The controller’s identity, application forms, fit and proper person, source of funds, Delivery and actual management arrangements must be confirmed item by item in accordance with the Insurance Ordinance and the information submitted., It cannot be summarized by just 15% or a single table.

If the Insurance Authority (IA) notifies the applicant to complete specified matters first, The legal nature of the notification should be, Conditions and deadlines apply. Submit professional indemnity insurance, After account or other information, Still have to wait for the Insurance Authority (IA)’s formal decision, It cannot be expressed as automatic licence issuance.

Licensing and responsible officer approval of corporate and individual intermediaries should be checked separately. Whether an employee is marketable depends on actual duties, Personal Qualifications and Authorization, Not only are you automatically eligible just because you are employed by a licensed company.

Submitting an application or obtaining a principled opinion does not mean that you are officially allowed to operate.. Final authorization should be confirmed first, Licensing conditions and prerequisites for starting business; Technical testing should be distinguished from real client funds and regulated transactions.

Cannot be regarded as the same approval. Regulatory authority assessment business authorization; Banks independently review customers, Source of funds and purpose of account. Obtaining a license or in-principle approval does not guarantee account opening, Clearing access and ongoing account services.

Can refer toSupervision and application information from the Hong Kong Insurance Broker Licensing Authority, Check corresponding systems and processing information.

New products first, Customer Category, A case-by-case comparison of capital flows and operating areas with existing registrations or authorizations. If it exceeds the scope or affects the applicable conditions, Corresponding changes should be completed, It will be launched after notification or separate application..

Outsourcing does not mean transferring the responsibilities of the licensed entity. It is recommended to clarify the scope of services, data access, audit, accident report, Re-sourcing and exit arrangements, and retain sufficient internal personnel to supervise suppliers.

Compare legal names, Registration or license number, Authorized business, Licensing conditions and actual website. Group brand, The identity of affiliated companies and agents cannot replace the authorization of the contracting entity., Should be cross-checked with official records and licensing documents.

Both may change the control relationship. Direct and indirect shareholdings should be identified before trading, Significant impact and changes in ultimate controller, Check approval or notification procedures, and write regulatory conditions into the delivery arrangements.

First check whether the license conditions are still met, Arrange temporary supervision, Business restrictions and handovers, and complete applicable personnel notifications or new hire approvals. Nominal substitutes cannot solve gaps in actual performance of duties.