To carry on any class of insurance business in or from Hong Kong, companies must be authorised under section 8 of the Insurance Companies Ordinance. In order to be authorised, insurers must meet certain statutory conditions and satisfy certain guidelines issued by the Insurance Authority (IA). Insurers will be granted authorisation to carry on insurance business in or from Hong Kong by the IA if they:
— are incorporated in Hong Kong or registered as an overseas company
— apply for authorisation and provide the IA with such information as he may require
— satisfy the authorisation requirements set out in sections 8(2) and 8(3) of the Ordinance.
