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On March 9, 2009, the International Association of Insurance Supervisors (“IAIS”) released an Issues Paper on Group-Wide Solvency Assessment and Supervision (the “Issues Paper”).  The purpose of the Issues Paper is to serve as a framework for the development of future papers providing guidance on group-wide solvency assessment and supervision on a global scale. 

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Read More IAIS Releases Issues Paper on Group-Wide Solvency Assessment and Supervision

John Hughes and Machua Millett of EAPD have recently released an updated version of their whitepaper entitled Venture Capital, Private Equity and Hedge Funds: Structure and Risk Exposures.  The whitepaper leads the reader through the structure and characteristics of venture capital, private equity and hedge funds, presents the latest market trends in these areas and then discusses the risk exposures for such funds and related entities. 

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Read More Updated Whitepaper: Venture Capital, Private Equity and Hedge Funds: Structure and Risk Exposures

In addition to the requirements for an insurer to be authorised to carry on insurance (whether general business or long term business and whether as a direct insurer, composite insurer, reinsurer or captive insurer) in or from Hong Kong (as described in our companion guidance note on the “Authorisation of insurers in Hong Kong”) there are a number of continuing regulatory requirements that the insurer will need to satisfy on authorisation and thereafter. 

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Read More Doing Business in Hong Kong – Ongoing Regulatory Requirements for Insurers

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). 

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Read More Doing Business in Hong Kong – Authorisation of Insurers in Hong Kong

An insurer involved in a dispute or proceeding outside China but in which a Chinese witness may need to give a deposition or statement cannot obtain that deposition or statement in China. China does not permit the taking of depositions or witness statements (even from willing witnesses) in China for a case pending overseas. However, such depositions and witness statements may be taken in Hong Kong. …
Read More Insurance Disputes Involving Chinese Witnesses: Taking Depositions from Chinese Witnesses in Hong Kong

A company has been incorporated to manage China’s insurance protection fund (IPF) (previously controlled by the China Insurance Regulatory Commission (CIRC)) as part of its response to the global financial problems. The IPF protects policyholders when insurers go bankrupt and also companies that take over insolvent insurers. …
Read More HK: Company Set Up to Control China’s Insurance Protection Fund