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Insurance authority to take over regulation of insurers, brokers


Hong Kong's Insurance Authority will take over regulation of insurers and brokers from the self-regulated bodies on Sep. 23, Lexology reports. The SROs include the Hong Kong Federation of Insurers, Hong Kong Confederation of Insurance Brokers, and the Professional Insurance Brokers Association. The new insurance intermediary regime requires any company that is carrying out "regulated activities" to be licensed.

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