The Hong Kong insurance regulator, Insurance Authority (IA) has launched a public consultation on proposed amendments to the Insurance (Authorisation and Annual Fees) Regulation (Cap. 41C) and the Insurance (Levy) Order (Cap. 41J) made under section 128 and section 134 of the Insurance Ordinance (Cap. 41) respectively.
These amendments seek to adjust the cap imposed on variable component of the annual fees payable by authorised long term insurers from HK$7m ($910,000) to HK$28m and the related rate from 0.0039% to 0.0042% of insurance liabilities, and the cap imposed on premium levy payable by holders of long-term policies from HK$100 to HK$500 or HK$1,000 with the related rate maintained at 0.1%.
“The review is carried out in accordance with original design of our funding mechanism to ensure that the IA can effectively discharge its statutory functions on a sustainable basis, while limiting the impact on policy holders and international competitiveness of the insurance industry,” an IA spokesperson said.
The consultation paper can be accessed from the IA website, and members of the public can submit their comments on or before 3 December 2026.