Licensing and Related Fees

Introduction

From 23 September 2024, the Insurance Authority (“IA”) charges fees for processing insurance intermediary licence applications and related notifications.

A circular issued on 31 July 2024 sets out the detailed arrangements for payment of licensing and related fees. A short video is also prepared as follows to briefly introduce and facilitate the Public in further understanding of such arrangements.

Introduction Video - Licensing and Related Fees

Types of fees payable

The relevant fees as set out in Fees Table must be paid for the following applications/notifications submitted to the IA.

Applications by Individual Licensees	Application for new licence Application to renew a licence Application to add a line of business to an existing licence
Applications by Insurance Agencies and Insurance Broker Companies	Application for new licence Application to renew a licence Application to add a line of business to an existing licence Application for approval of responsible officer
Other notifications/applications	Notification of new appointment of principal Application for exemption under section 79 of the Insurance Ordinance (including application for Submission Extension by licensed insurance broker companies (i.e. the extension of the deadline for submitting the audited financial statements and auditor’s report required under section 73(1) of the IO. In this regard, please refer to the circular issued on 15 August 2024 for the Fees Table.)

Payment method

Fees for applications and notifications submitted electronically through the IA’s e-portal, Insurance Intermediaries Connect (“IIC”), must be paid through IIC at the time the application or notification is submitted.

The fees may be paid by credit card (Visa/Master Card), AlipayHK, WeChat Pay and Faster Payment System (“FPS”).

The User Guide for IIC covers detailed instructions on how to use the payment function.

The payment method for the applications to be submitted in paper form are as follows:

Types of applications	Payment method
Application for new insurance agency or insurance broker company licence	Crossed cheque (to be submitted upon the IA’s notification)
Application to add a line of business to an existing licence made by insurance agency and insurance broker company	Crossed cheque (to be submitted upon the IA’s notification)
Application for exemption under section 79 of the Insurance Ordinance	Crossed cheque (to be submitted upon the IA’s notification, except the below) For application for Submission Extension by licensed insurance broker companies (i.e. the extension of the deadline for submitting the audited financial statements and auditor’s report required under section 73(1) of the IO, please submit the crossed cheque along with the application. For details, please refer to Annex to the circular issued on 15 August 2024 for information.

Frequently Asked Questions

Please refer to the frequently asked questions in Licensing and Related Fees.