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Hong Kong insurers to face significant regulatory challenges

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Hong Kong-based law firm Oldham, Li & Nie said that the region's insurance industry will face significant challenges in adjusting to a new regulatory landscape, including enhanced requirements for independent non-executive directors, Asia Insurance Review reports. The Office of the Commissioner of Insurance revised its Guidance Note on the Corporate Governance of Authorized Insurers to incorporate high level standards that are updated and adopted internationally.  The new rules take effect Jan. 1, 2017.

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