13 April 2023
The Insurance Authority (IA) today (13 April 2023) wishes to alert members of the public in Hong Kong to a company called “Hongkong Baocheng Insurance Limited / 香港保誠保險有限公司” which is incorporated in Hong Kong using an insurance-related company name without the IA’s consent 1 .The Company is not and never has been an authorized insurer or a licensed insurance intermediary under the Insurance Ordinance (Cap. 41) to carry on insurance business or regulated activities in or from Hong Kong. Further, the authorized insurers “Prudential General Insurance Hong Kong Limited” and “Prudential Hong Kong Limited” confirm that they have no connection or business dealings with the Company in question.
Anyone who has provided his/her personal information to the Company, or has conducted any financial transactions with the Company, should consider reporting the case to the Hong Kong Police Force.
Members of the public are reminded to verify the identity of the company conducting insurance business. The full lists of authorized insurers and licensed insurance intermediaries in Hong Kong can be found on the Register of Insurers and Register of Licensed Insurance Intermediaries on the IA website respectively.
Ends
Note:
1 Under section 120 of the Insurance Ordinance (Cap. 41), without the written consent of the IA or exemptions, a person must not use the word “insurance” or “保險” in the description or name under which the person is carrying on business in or from Hong Kong. A person who contravenes the above commits an offence and is liable to a fine of $200,000 and, in the case of an individual, also to imprisonment for 2 years.