Leveraging more than twenty years of experience serving clients in the financial sector, our firm has carved out a strong standing as the preferred organisation for businesses in search of tailored and inventive legal guidance.
Our corporate and regulatory lawyers have extensive experience advising insurance companies and insurance intermediaries, including insurance agencies and insurance brokers, regulated by the Insurance Authority (“IA”).
Prior to the introduction of the statutory licensing regime for insurance agents and brokers under the new Insurance Ordinance (“IO”) (formerly the Insurance Companies Ordinance), we acted for insurance brokerage firms and insurance agencies under the self-regulatory system operated by the 3 self-regulatory organisations (“SROs”), namely the Professional Insurance Brokers Association ("PIBA"), the Hong Kong Confederation of Insurance Brokers ("CIB"), and the Insurance Agents Registration Board ("IARB") established under the Hong Kong Federation of Insurers ("HKFI"), and represented insurance clients in disciplinary proceedings before these SROs and their appeal tribunals.
As a result, we have developed broad and deep experience in insurance regulation over the years and are familiar with the new licensing regime under the IO and the regulatory framework established by the IA to directly regulate insurance intermediaries.
WHAT WE CAN DO FOR YOU
Armed with deep insights into our client's industries, Timothy Loh LLP is ready to navigate you through the legal complexities with the following:
Regulatory Framework
Our insurance lawyers have extensive experience advising insurance companies on Hong Kong insurance regulations.
Including and in respect of:
Authorization as an insurance company or a special purpose insurer under the Insurance Ordinance (“IO”) and in compliance with guidelines issued by the Insurance Authority (“IA”) governing the activities of authorized insurers
Licensing of insurance agents and insurance brokers and compliance with statutory requirements and codes of conduct, as well as guidelines issued by the IA governing their activities
Compliance with regulatory requirements in respect of the authorization of insurance products, including those administered by the Securities and Futures Commission (“SFC”) and the Mandatory Provident Fund Authority (“MPFA”)
Compliance with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”), as well as related anti-money laundering and economic sanctions legislation
You can expect comprehensive support in understanding and meeting your regulatory obligations.
We advise on major financial transactions in the insurance industry
Our services include:
M&A advisory for insurance companies involving authorized insurers or licensed insurance agents and licensed insurance brokers
Compliance with regulatory obligations arising from changes in controllers, directors, and key persons in control functions
The structuring and preparation of documentation for catastrophe bonds under Hong Kong's special purpose insurer (“SPI”) framework
The issuance of bonds to provide prudential capital for insurance operations
You can expect sound legal guidance in structuring and executing deals and creative solutions to deal challenges.
Regulatory Defence
Our approach combines a client-first mentality with clear communication to help you with client complaints and white collar crime and regulatory defence.
We can help you with the following:
Responding to enquiries and investigations
Defending enforcement action by the IA and appealing disciplinary decisions to the Insurance Appeals Tribunal
Responding to client complaints and proceedings initiated alleging mis-selling
We stand by you in times of scrutiny with dedicated support in handling disputes.
grounded regulatory
COMPLIANCE
Regulatory Framework
Our insurance lawyers have extensive experience advising insurance companies on Hong Kong insurance regulations.
Including in respect of:
Authorization as an insurance company or a special purpose insurer under the Insurance Ordinance (“IO”) and compliance with guidelines issued by the Insurance Authority (“IA”) governing the activities of authorized insurers
Licensing of insurance agents and insurance brokers and compliance with statutory requirements and codes of conduct as well as guidelines issued by the IA governing their activities
Compliance with regulatory requirements in respect of the authorization of insurance products, including those administered by the Securities and Futures Commission (“SFC”) and the Mandatory Provident Fund Authority (“MPFA”)
Compliance with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”) as well as related anti-money laundering and economic sanctions legislation
You can expect comprehensive support in understanding and meeting your regulatory obligations.
creative financial
SOLUTIONS
We advise on major financial transactions in the insurance industry
Our services include:
M&A advisory for insurance companies involving authorized insurers or licensed insurance agents and licensed insurance brokers
Compliance with regulatory obligations arising from changes in controllers, directors, and key persons in control functions
The structuring and preparation of documentation for catastrophe bonds under Hong Kong's special purpose insurer (“SPI”) framework
The issuance of bonds to provide prudential capital for insurance operations
You can expect sound legal guidance in structuring and executing deals and creative solutions to deal challenges.
pragmatic
DISPUTE RESOLUTION
Regulatory Defence
Our approach combines a client-first mentality with clear communication to help you with client complaints and white collar crime and regulatory defence.
We can help you with the following:
Responding to enquiries and investigations
Defending enforcement action by the IA and appealing disciplinary decisions to the Insurance Appeals Tribunal
Responding to client complaints and proceedings initiated alleging mis-selling
We stand by you in times of scrutiny with dedicated support in handling disputes.
Let us arrange an appointment with our award-winning lawyers for your case
Contact UsHOW WE OPERATE
Our pursuit of excellence anchors the firm’s sophisticated approach.
We blend steadfast professionalism with our relentless dedication, enabling us to provide exceptional legal services.
Our practices are encapsulated within these domains:
Compliance
Compliance
Building on a foundation of integrity, we guide insurance companies and insurance agents and brokers through the complex terrain of licensing and authorization requirements under the Insurance Ordinance “IO” and compliance with the regulatory framework established by the Insurance Authority “IA”. We ensure you are compliant with anti-money laundering AML obligations.
Insurance Products
Insurance Products
Our client-first approach prioritizes the successful launch of insurance products, including catastrophe bonds, MPF products and investment linked insurance policies. We liaise with regulatory bodies, including the IA in respect of special purpose insurer (“SPI”) authorization applications and the SFC in respect of investment linked assurance schemes (“ILAS”). We prepare product documentation, including terms and conditions.
Change of Control
Change of Control
We bring our commitment to getting the deal done and meticulous attention to detail in advising on mergers and acquisitions involving authorized insurers, licensed insurance agents and licensed insurance brokers. We help ensure compliance with regulatory obligations arising from changes in controllers, directors, key persons or the appointed actuary.
Defence
Defence
We are by your side in times of difficulty, responding to client complaints and legal proceedings, defending against enquiries, investigations and enforcement action by regulatory bodies and handling appeals.
In Insurance Companies, our practice has been recognised by:
“Global Leader”
“Elite Practitioner”
“Leading Practice”
“Recommended Practice”
“Leading Lawyer”