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Consultation conclusions on draft Rules on Risk-based Capital regime

25 April 2024


The Insurance Authority (IA) today (25 April 2024) published the consultation conclusions on six draft Rules for the implementation of the Risk-based Capital (RBC) regime. The draft Rules were published in two batches in December 2023 and January 2024 for public consultation. Respondents were generally supportive of the proposals outlined therein, with comments mainly on areas such as capital requirements and valuation of assets and liabilities. The IA has made amendments to certain original proposals after careful consideration of the feedback received.

The six Rules are:

  • Insurance (Exemption to Appointment of Actuary) Rules (Cap. 41Q);
  • Insurance (Valuation and Capital) Rules (Cap. 41R);
  • Insurance (Submission of Statements, Reports and Information) Rules (Cap. 41S);
  • Insurance (Maintenance of Assets in Hong Kong) Rules (Cap. 41T);
  • Insurance (Marine Insurers and Captive Insurers) Rules (Cap. 41U); and
  • Insurance (Lloyd’s) Rules (Cap. 41V).

The finalised Rules will be tabled at the Legislative Council for negative vetting in May 2024, with a view to coming into operation in tandem with the commencement of the Insurance (Amendment) Ordinance 2023.

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