Jurisdiction: Hong Kong

Search for Innovative Distribution Channels

We previously blogged at here and here about the new requirements introduced by the Hong Kong Federation of Insurers (HKFI), the Hong Kong Monetary Authority (HKMA), the Hong Kong Confederation of Insurance Brokers (CIB) and the Professional Insurance Brokers Association (PIBA) respectively with regard to the sale of investment-linked assurance scheme (ILAS) products and disclosure of insurance intermediaries’ remuneration on the sale of ILAS products.   

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China’s Pressure to Care for Its Elderly

China is due to face financial pressure to preserve and increase the value of its social insurance funds and ensure the sustainability of its policies to cover its aging population, which is growing steadily. In 2010, 178 million people in China were aged 60 years or older, accounting for 13.26% of the total population. The number will likely double by 2030. 

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