The Hong Kong Insurance Authority (IA) published its Annual Report 2023-24, “Striding towards a Sustainable Future”, setting out key activities and achievements including the successful implementation of the Risk-based Capital (RBC) regime, continued development of the Insurance-linked Securities market, and efforts to strengthen conduct supervision and disciplinary enforcement. In the report’s leadership commentary, the IA’s chairman highlighted external risks including persistently high interest rates, concerns about debt sustainability, geopolitical tensions, armed conflicts and the impacts of climate change. The IA’s chief executive emphasised the need to maintain a robust supervisory system and strong disciplinary mechanisms to protect policyholders, and pointed to further refinement of the RBC regime and calibration of enforcement actions. The annual report and an abridged animated version were made available on the IA website for public perusal and feedback.
Hong Kong Insurance Authority 2025-03-19
Hong Kong Insurance Authority publishes Annual Report 2023-24 highlighting implementation of the risk-based capital regime and stepped-up conduct enforcement
The Hong Kong Insurance Authority published its Annual Report 2023-24, highlighting the implementation of the Risk-based Capital regime and development of the Insurance-linked Securities market. The report addresses external risks such as high interest rates and geopolitical tensions, emphasizing the need for a robust supervisory system. The report is available on the IA website for public feedback.