Hong Kong Insurance Authority Publishes Numerous Guidelines

HK IA Circulars

Published June 30th, 2022

Detected March 14th, 2026

Summary

The Hong Kong Insurance Authority has published a comprehensive list of updated and new guidelines covering various aspects of insurance business. These include updated guidelines on authorization, anti-money laundering, cybersecurity, corporate governance, and underwriting, with some effective dates ranging from mid-2024 to early 2026.

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What changed

The Hong Kong Insurance Authority (IA) has updated its legislative framework by publishing numerous revised and new guidelines. Key updates include GL5: Guideline on Application for Authorization to Carry on Insurance Business (effective June 30, 2022), GL3 and GL3A concerning Anti-Money Laundering and Counter-Terrorist Financing, GL4 on 'Fit and Proper' Criteria, GL20 on Cybersecurity, and GL16 on Underwriting Long Term Insurance Business (effective March 31, 2026). Several other guidelines related to general business, long-term business, and operational matters have also been updated or are noted as repealed.

Regulated entities, including authorized insurers and insurance intermediaries, must review these guidelines to ensure ongoing compliance. Specific attention should be paid to the effective dates for new requirements, particularly GL16 which takes effect in March 2026. Compliance officers should assess current practices against the updated requirements for authorization, AML/CTF, cybersecurity, corporate governance, and underwriting to implement necessary changes before the respective deadlines. Failure to comply may result in regulatory action.

What to do next

Review GL5 for updated authorization requirements.
Assess compliance with GL3 and GL3A for AML/CTF obligations.
Prepare for new underwriting standards under GL16 effective March 31, 2026.

Source document (simplified)

Legislative and Regulatory Framework > Guidelines

Guidelines

| Search | |
| --- | |
| Enter subject keywords: | |
| By topic : | All Insurers (Carrying on General Business) Insurers (Carrying on Long Term Business) Authorization of Insurers Sale of Long Term Insurance Policies Internet-related Areas Insurance Intermediaries AML matters Designated Insurance Holding Company |

| Guideline(s) |
| --- |
| GL1: Authorization Guideline (repealed and replaced by GL5: Guideline on Application for Authorization to Carry on Insurance Business in or from Hong Kong on 30 June 2022) |
| GL2: Guideline on Insurance (General Business) (Valuation) Rules (repealed with effect from 1 Jul 2024) |
| GL3: Guideline on Anti-Money Laundering and Counter-Terrorist Financing |
| GL3A: Guideline on Exercising Power to Impose Pecuniary Penalty in respect of Anti-Money Laundering and Counter-Terrorist Financing |
| GL4: Guideline on "Fit and Proper" Criteria in relation to Authorized Insurers under the Insurance Ordinance (Cap. 41) |
| GL5: Guideline on Application for Authorization to Carry on Insurance Business in or from Hong Kong * |
| GL6: Guideline on Reserving for Mortgage Guarantee Business |
| GL7: Guideline on the Reserve Provision for Class G of Long Term Business (repealed with effect from 1 Jul 2024) |
| GL8: Guideline on the Use of Internet for Insurance Activities |
| GL9: Guideline on Actuarial Review of Insurance Liabilities in respect of General Business * |
| GL10: Guideline on the Corporate Governance of Authorized Insurers * |
| GL11: Guideline on Classification of Class C - Linked Long Term Business |
| GL12: Guideline on Reinsurance with Related Companies |
| GL13: Guideline on Asset Management by Authorized Insurers * |
| GL14: Guideline on Outsourcing *
- Questions and Answers on “Guideline on Outsourcing” (“GL14”) |
| GL15: Guideline on Underwriting Class C Business
- Note on the Green Light Process for Assessment of Investment-Linked Assurance Scheme (“ILAS”) Products against Standards in Guideline on Underwriting Class C Business (GL15)
- Appendix 3 - Supplementary Sheet of Benefit Illustration Statement [Word ] |
| GL16: Guideline on Underwriting Long Term Insurance Business (other than Class C Business) (effective from 31 March 2026)
GL16: Guideline on Underwriting Long Term Insurance Business (other than Class C Business) (effective until 30 March 2026)
- Questions and Answers on “Guideline on Underwriting Long Term Insurance Business (other than Class C Business)” (“GL16”)
- Interpretation Notes |
| GL17: Guideline on Reinsurance * |
| GL18: Guideline on Exercising Power to Impose Pecuniary Penalty in respect of Authorised Insurers under the Insurance Ordinance (Cap, 41) |
| GL19: Guideline on Qualifying Deferred Annuity Policy |
| GL20: Guideline on Cybersecurity
- Frequently Asked Questions
- Inherent Risk Rating Assessment Template
- Cybersecurity Maturity Assessment Template |
| GL21: Guideline on Enterprise Risk Management *
- Prescribed Scenarios for the stress and scenario testing to be used by authorized insurers carrying on general insurance business for the purpose of Own Risk Solvency Assessment Report
- Prescribed Scenarios for the stress and scenario testing to be used by authorized insurers carrying on long term insurance business for the purpose of Own Risk Solvency Assessment Report
- Key Observations from the First ORSA Reports |
| GL22: Guideline on Exercising Power to Impose Pecuniary Penalty in Respect of Regulated Persons under the Insurance Ordinance (Cap. 41) |
| GL23: Guideline on "Fit and Proper" Criteria for Licensed Insurance Intermediaries under the Insurance Ordinance (Cap. 41)
- List of Acceptable Insurance Qualifications
- Newly added qualification(s) for the purpose of exemption from the Insurance Intermediaries Qualifying Examination (“IIQE”) Papers |
| GL24: Guideline on Continuing Professional Development for Licensed Insurance Intermediaries
- Interpretation Notes
- Annex A - Disciplinary Approach for Non-compliance with CPD Requirements
- Annex B - Section 84 Agreement
- Annex C - Frequently Asked Questions on Continuing Professional Development (“CPD”) Issues
- Guide to prepare Section 84 Agreement for Non-compliance with Continuing Professional Development (“CPD”) Requirements
- S84 Agreement Generator (CPD Non-compliance) (applicable to Assessment Period 2021/2022 and 2022/2023 only. For Assessment Period 2023/2024 onwards, please refer to the User Guide)

Requirements applicable to E-learning Activities | | GL25: Guideline on Offering of Gifts
Interpretation Notes | | GL26: Guideline on Sale of Investment-Linked Assurance Scheme (“ILAS”) Products
Interpretation Notes
- Appendix 1 - Important Facts Statement and Applicant’s Declarations [Word ] | | GL27: Guideline on Long Term Insurance Policy Replacement
Interpretation Notes | | GL28: Guideline on Benefit Illustrations for Long Term Insurance Policies
Interpretation Notes | | GL29: Guideline on Cooling-off Period
Interpretation Notes | | GL30: Guideline on Financial Needs Analysis
Interpretation Notes | | GL31: Guideline on Medical Insurance Business
Frequently Asked Questions | | GL32: Guideline on Group Supervision *
Interpretation Notes for Module C * | | GL33: Guideline on Application for Authorization to Carry on Special Purpose Business | | GL34: Guideline on Governance and Management of Fund(s) of Participating Business (effective from 31 March 2026) GL34: Guideline on Establishment and Maintenance of Fund(s) in respect of Participating Business (effective until 30 March 2026) | | GL35: Guideline on Actuary’s Report of Investigation in respect of Long Term Business | | GL36: Guideline on Valuation and Capital Requirements | ** Please refer to the Interpretation Notes for clarifications on various Guidelines in view of the enactment of the Companies (Amendment) (No. 2) Ordinance 2025.*

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