06797oam 22014294 450 991078674690332120230803204345.01-4983-4407-01-4983-9979-71-4983-2188-7(CKB)3710000000222000(EBL)1760127(SSID)ssj0001399024(PQKBManifestationID)11776925(PQKBTitleCode)TC0001399024(PQKBWorkID)11465185(PQKB)11217344(MiAaPQ)EBC1760127(Au-PeEL)EBL1760127(CaPaEBR)ebr10907173(CaONFJC)MIL636369(OCoLC)888744911(IMF)1HKGEE2014005(IMF)1HKGEA2014005(EXLCZ)99371000000022200020020129d2014 uf 0engurcnu||||||||txtccrPeople’s Republic of China–Hong Kong Special Administrative Region : Financial Sector Assessment Program-Insurance Core Principles-Detailed Assessment of ObservanceWashington, D.C. :International Monetary Fund,2014.1 online resource (108 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4983-5812-8 Cover; CONTENTS; GLOSSARY; EXECUTIVE SUMMARY; ASSESSMENT OF INSURANCE CORE PRINCIPLES; A. Introduction and Scope; B. Information and Methodology Used for Assessment; C. Overview-Institutional and Macro Prudential Setting; TABLES; 1. Insurance Penetration and Density as at end-2012; 2. Insurance Market Structure; 3. Ownership Structure as at end-2012; 4. Composition of Assets as at end-2012; 5. Gross Written Premium by Major Lines of Business--Long-term Business; 6. New Policies Issued to Mainland Visitors; 7. Gross Written Premium by Major Lines of Business in 2012--General BusinessD. Preconditions for Effective Insurance Supervision 8. Solvency Position of Domestic Insurers; 9. Summary of Compliance with the Insurance Core Principles; 10. Summary of Observance Level; 11. Recommendations to Improve Observance of the Insurance Core Principles; AUTHORITIES' RESPONSE TO THE ASSESSMENT; DETAILED ASSESSMENT; 12: Detailed Assessment of Observance of the Insurance Core Principles; APPENDIX; I. Status of Implementation of 2003 FSAP RecommendationsThis Insurance Core Principles Detailed Assessment Report was prepared in the context of the Financial Sector Assessment Program for the People’s Republic of China–Hong Kong Special Administrative Region (HKSAR). The report describes that the insurance penetration and density in HKSAR is among the top 10 in the world. Foreign-owned insurers are dominant in the HKSAR insurance sector, and account for about 72 percent of total assets as at end-2012. The long-term insurance industry is highly concentrated, while the market share of general insurance industry is more evenly distributed. All except one of the top-10 insurance groups are all foreign owned, with much larger consolidated operations compared to their operations in HKSAR. The Insurance Authority is responsible for regulating and supervising the insurance industry of the HKSAR. It is supported by the Office of the Commissioner of Insurance, a government department in the HKSAR. A self-regulatory system is used to supervise the conduct of business of intermediaries.IMF Staff Country Reports; Country Report ;No. 2014/206InsuranceChinaHong KongEvaluationInsuranceState supervisionChinaHong KongFinance: GeneralimfInsuranceimfIndustries: Financial ServicesimfCriminologyimfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfInsurance CompaniesimfActuarial StudiesimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfBankruptcyimfLiquidationimfIllegal Behavior and the Enforcement of LawimfFinanceimfInsurance & actuarial studiesimfDistributed ledgersimfCorporate crimeimfwhite-collar crimeimfInsurance companiesimfVirtual currenciesimfSolvencyimfAnti-money laundering and combating the financing of terrorism (AML/CFT)imfFinancial institutionsimfTechnologyimfFinancial sector policy and analysisimfCrimeimfFinancial services industryimfTechnological innovationsimfDebtimfMoney launderingimfHong Kong Special Administrative Region, People's Republic of ChinaimfInsuranceEvaluation.InsuranceState supervisionFinance: GeneralInsuranceIndustries: Financial ServicesCriminologyPension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsInsurance CompaniesActuarial StudiesMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsBankruptcyLiquidationIllegal Behavior and the Enforcement of LawFinanceInsurance & actuarial studiesDistributed ledgersCorporate crimewhite-collar crimeInsurance companiesVirtual currenciesSolvencyAnti-money laundering and combating the financing of terrorism (AML/CFT)Financial institutionsTechnologyFinancial sector policy and analysisCrimeFinancial services industryTechnological innovationsDebtMoney laundering368.00951212021DcWaIMFBOOK9910786746903321People’s Republic of China–Hong Kong Special Administrative Region3716324UNINA