The Hong Kong Insurance Authority (IA) is expected to assume responsibility for regulating insurance intermediaries from around the middle of 2019.
In preparation for the new regime, the IA has launched a number of public consultations on guidelines and rules. Further codes and guidelines are being prepared and will be released for consultation in due course.
Please click here for discussion of the new regime and what it means for intermediaries operating in Hong Kong.
Three of the themes that EIOPA sees as its priorities were covered at its annual conference on 20 November. All of the topics were the subject of frank and spirited debate, with a range of different views being represented in the panel discussions.
EIOPA should be commended for encouraging views that were contrary to its own to be expressed, an approach which made for a worthwhile and balanced discussion of the topics.
Documents published over the summer provide some insight into how the PRA is supervising insurers. In particular, firms should be aware of a new version of the PRA’s “Approach to insurance supervision” (Approach Document) and of an update on the PRA’s continuing transition from its current Handbook to a new, more concise Rulebook (PS5/14).