Hong Kong Insurance Group-Wide Supervision Framework to Commence on 29 March 2021 (January 2021)
Client Briefings
Introduction
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The Insurance (Amendment) (No. 2) Ordinance 2020 ("Amendment Ordinance") amends the Insurance Ordinance to provide for the regulation and supervision of insurance groups by the Insurance Authority ("IA") through exercising direct regulatory powers over their Hong Kong-incorporated holding companies. The new group-wide supervision framework in Hong Kong will come into effect on 29 March 2021.
