Cap. 41 sub. leg. B

Insurance (Prescribed Fees) Regulation(Cap. 41, section 128(1)) [30 June 1983] Editorial Note: The title of this Regulation was amended from “Insurance Companies (Register of Insurers) (Prescribed Fee) Regulations” to “Insurance (Prescribed Fees) Regulation” — see L.N. 57 of 2017. 1. Citation This Regulation may be cited as the Insurance (Prescribed Fees) Regulation. (L.N. 57 of 2017) 2. Fees A fee set out in column 4 of the Schedule must be paid to the Authority—(a) for a fee for obtaining a document or copy of a document—when the request for obtaining the document or copy is made;(b) for a fee for an application, notification, request or submission—when the application, notification, request or submission is made; or (L.N. 55 of 2024)(c) for a fee for anything done by the Authority, in performing its function under section 4A(1) of the Ordinance in relation to a petition under section 24(1) of the Ordinance—when a copy of the petition is served on the Authority under section 24(3)(c) of the Ordinance.(L.N. 43 of 2019) 3. Waiver of fees If, in relation to any person or class of persons, the Authority is of the opinion that the payment of any fee set out in items 7BA to 7BZF of Part 1 of the Schedule would be unduly burdensome or inappropriate, the Authority may—(a) waive, in whole or in part, the payment of the fee; or(b) refund, in whole or in part, the fee paid.(L.N. 55 of 2024) Schedule [ss. 2 & 3] (L.N. 55 of 2024) Fees Part 1 Fees Payable under Ordinance (L.N. 55 of 2024) 1. Interpretation In this Part—licence (牌照) has the meaning given by section 64F of the Ordinance;linked long term business (相連長期業務) means insurance business of the nature specified in class C in Part 2 of Schedule 1 to the Ordinance.(L.N. 55 of 2024) 2. Fees (L.N. 55 of 2024) Column 1 Column 2 Column 3 Column 4 Item Section ofOrdinance Matter in respect ofwhich fee must be paid Fee $ 1. Section 5H(3)(a) For obtaining each page of a copy of an entry in, or extract of, the register of authorized insurers 6 2. Section 5H(3)(b) For obtaining a copy of an entry in, or extract of, the register of authorized insurers, certified by an authorized officer of the Authority as a true copy of the entry or extract 100 3. Section 13A(2)(b) For each application for approval of the appointment of a controller 18,000 4. Section 13AC(2)(b) For each application for approval of the appointment of a director 18,000 5. Section 13AE(2)(b) For each application for approval of the appointment of a key person in control functions 18,000 6. Section 13B(2B)(b) For each application for approval for a person to be— (a) a minority shareholder controller 50,000 (b) a majority shareholder controller 100,000 7. Section 15AAAB(2)(b) For each application for approval of the appointment of an actuary 18,000 7A. Section 64O(3)(a) For obtaining each page of a copy of an entry in, or extract of, the register of licensed insurance intermediaries 6 7B. Section 64O(3)(b) For obtaining a copy of an entry in, or extract of, the register of licensed insurance intermediaries, certified by an authorized officer of the Authority as a true copy of the entry or extract 100 7BA. Section 64Q(5)(a) For each notification of an intended appointment of an agent 100 7BB. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed insurance agency by adding general business or long term business (excluding linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 7,200 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 4,800 (c) less than 1 year immediately before the expiry of the licence 2,400 7BC. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed insurance agency by changing long term business (excluding linked long term business) to long term business (including linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 5,400 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 3,600 (c) less than 1 year immediately before the expiry of the licence 1,800 7BD. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed insurance agency (in which long term business (excluding linked long term business) is not specified) by adding long term business (including linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 12,600 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 8,400 (c) less than 1 year immediately before the expiry of the licence 4,200 7BE. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed individual insurance agent, a licensed technical representative (agent) or a licensed technical representative (broker) by adding general business or long term business (excluding linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 810 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 600 (c) less than 1 year immediately before the expiry of the licence 310 7BF. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed individual insurance agent, a licensed technical representative (agent) or a licensed technical representative (broker) by changing long term business (excluding linked long term business) to long term business (including linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 280 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 200 (c) less than 1 year immediately before the expiry of the licence 110 7BG. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed individual insurance agent, a licensed technical representative (agent) or a licensed technical representative (broker) (in which long term business (excluding linked long term business) is not specified) by adding long term business (including linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 1,090 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 800 (c) less than 1 year immediately before the expiry of the licence 420 7BH. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed insurance broker company by adding general business or long term business (excluding linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 14,400 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 9,600 (c) less than 1 year immediately before the expiry of the licence 4,800 7BI. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed insurance broker company by changing long term business (excluding linked long term business) to long term business (including linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 10,800 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 7,200 (c) less than 1 year immediately before the expiry of the licence 3,600 7BJ. Section 64S(2)(b) For each application for approval to vary lines of business specified in the licence of a licensed insurance broker company (in which long term business (excluding linked long term business) is not specified) by adding long term business (including linked long term business), and the application is made— (a) at least 2 years immediately before the expiry of the licence 25,200 (b) at least 1 year but less than 2 years immediately before the expiry of the licence 16,800 (c) less than 1 year immediately before the expiry of the licence 8,400 7BK. Section 64U(4) For each application for an insurance agency licence to carry on, as an agent of any authorized insurer, regulated activities in— (a) general business 7,200 (b) long term business (excluding linked long term business) 7,200 (c) long term business (including linked long term business) 12,600 (d) general business and long term business (excluding linked long term business) 14,400 (e) general business and long term business (including linked long term business) 19,800 (f) restricted scope travel business 4,000 7BL. Section 64W(2) For each application for a 3-year individual insurance agent licence to carry on, as an agent of any authorized insurer, regulated activities in— (a) general business 810 (b) long term business (excluding linked long term business) 810 (c) long term business (including linked long term business) 1,090 (d) general business and long term business (excluding linked long term business) 1,620 (e) general business and long term business (including linked long term business) 1,900 7BM. Section 64W(2) For each application for a 2-year individual insurance agent licence to carry on, as an agent of any authorized insurer, regulated activities in— (a) general business 600 (b) long term business (excluding linked long term business) 600 (c) long term business (including linked long term business) 800 (d) general business and long term business (excluding linked long term business) 1,200 (e) general business and long term business (including linked long term business) 1,400 7BN. Section 64W(2) For each application for a 1-year individual insurance agent licence to carry on, as an agent of any authorized insurer, regulated activities in— (a) general business 310 (b) long term business (excluding linked long term business) 310 (c) long term business (including linked long term business) 420 (d) general business and long term business (excluding linked long term business) 620 (e) general business and long term business (including linked long term business) 730 7BO. Section 64Y(2) For each application for a 3-year technical representative (agent) licence to carry on, as an agent of any licensed insurance agency, regulated activities in— (a) general business 810 (b) long term business (excluding linked long term business) 810 (c) long term business (including linked long term business) 1,090 (d) general business and long term business (excluding linked long term business) 1,620 (e) general business and long term business (including linked long term business) 1,900 (f) restricted scope travel business 400 7BP. Section 64Y(2) For each application for a 2-year technical representative (agent) licence to carry on, as an agent of any licensed insurance agency, regulated activities in— (a) general business 600 (b) long term business (excluding linked long term business) 600 (c) long term business (including linked long term business) 800 (d) general business and long term business (excluding linked long term business) 1,200 (e) general business and long term business (including linked long term business) 1,400 (f) restricted scope travel business 290 7BQ. Section 64Y(2) For each application for a 1-year technical representative (agent) licence to carry on, as an agent of any licensed insurance agency, regulated activities in— (a) general business 310 (b) long term business (excluding linked long term business) 310 (c) long term business (including linked long term business) 420 (d) general business and long term business (excluding linked long term business) 620 (e) general business and long term business (including linked long term business) 730 (f) restricted scope travel business 150 7BR. Section 64ZA(3) For each application for an insurance broker company licence to carry on regulated activities in— (a) general business 14,400 (b) long term business (excluding linked long term business) 14,400 (c) long term business (including linked long term business) 25,200 (d) general business and long term business (excluding linked long term business) 28,800 (e) general business and long term business (including linked long term business) 39,600 7BS. Section 64ZC(2) For each application for a 3-year technical representative (broker) licence to carry on, as an agent of any licensed insurance broker company, regulated activities in— (a) general business 810 (b) long term business (excluding linked long term business) 810 (c) long term business (including linked long term business) 1,090 (d) general business and long term business (excluding linked long term business) 1,620 (e) general business and long term business (including linked long term business) 1,900 7BT. Section 64ZC(2) For each application for a 2-year technical representative (broker) licence to carry on, as an agent of any licensed insurance broker company, regulated activities in— (a) general business 600 (b) long term business (excluding linked long term business) 600 (c) long term business (including linked long term business) 800 (d) general business and long term business (excluding linked long term business) 1,200 (e) general business and long term business (including linked long term business) 1,400 7BU. Section 64ZC(2) For each application for a 1-year technical representative (broker) licence to carry on, as an agent of any licensed insurance broker company, regulated activities in— (a) general business 310 (b) long term business (excluding linked long term business) 310 (c) long term business (including linked long term business) 420 (d) general business and long term business (excluding linked long term business) 620 (e) general business and long term business (including linked long term business) 730 7BV. Section 64ZE(3) For each application for approval of an individual as a responsible officer of a licensed insurance agency or of a person who applies under section 64U of the Ordinance for an insurance agency licence for regulated activities in— (a) any line of business other than restricted scope travel business 1,800 (b) restricted scope travel business 1,000 7BW. Section 64ZF(3) For each application for approval of an individual as a responsible officer of a licensed insurance broker company or of a company that applies under section 64ZA of the Ordinance for an insurance broker company licence 1,800 7BX. Section 64ZV(4) For each application for a renewal of the licence of a licensed insurance agency— (a) with more than 1 000 technical representatives (agent) appointed as its agent at the time of the renewal application 22,500 (b) with at least 100 but not more than 1 000 technical representatives (agent) appointed as its agent at the time of the renewal application 4,500 (c) with fewer than 100 technical representatives (agent) appointed as its agent at the time of the renewal application 2,250 7BY. Section 64ZV(4) For each application for a renewal of the licence of a licensed individual insurance agent for 3 years to carry on, as an agent of any authorized insurer, regulated activities in— (a) general business 810 (b) long term business (excluding linked long term business) 810 (c) long term business (including linked long term business) 1,090 (d) general business and long term business (excluding linked long term business) 1,620 (e) general business and long term business (including linked long term business) 1,900 7BZ. Section 64ZV(4) For each application for a renewal of the licence of a licensed individual insurance agent for 2 years to carry on, as an agent of any authorized insurer, regulated activities in— (a) general business 600 (b) long term business (excluding linked long term business) 600 (c) long term business (including linked long term business) 800 (d) general business and long term business (excluding linked long term business) 1,200 (e) general business and long term business (including linked long term business) 1,400 7BZA. Section 64ZV(4) For each application for a renewal of the licence of a licensed technical representative (agent) for 3 years to carry on, as an agent of any licensed insurance agency, regulated activities in— (a) general business 810 (b) long term business (excluding linked long term business) 810 (c) long term business (including linked long term business) 1,090 (d) general business and long term business (excluding linked long term business) 1,620 (e) general business and long term business (including linked long term business) 1,900 (f) restricted scope travel business 400 7BZB. Section 64ZV(4) For each application for a renewal of the licence of a licensed technical representative (agent) for 2 years to carry on, as an agent of any licensed insurance agency, regulated activities in— (a) general business 600 (b) long term business (excluding linked long term business) 600 (c) long term business (including linked long term business) 800 (d) general business and long term business (excluding linked long term business) 1,200 (e) general business and long term business (including linked long term business) 1,400 (f) restricted scope travel business 290 7BZC. Section 64ZV(4) For each application for a renewal of the licence of a licensed insurance broker company— (a) with more than 1 000 technical representatives (broker) appointed as its agent at the time of the renewal application 45,000 (b) with at least 100 but not more than 1 000 technical representatives (broker) appointed as its agent at the time of the renewal application 9,000 (c) with fewer than 100 technical representatives (broker) appointed as its agent at the time of the renewal application 4,500 7BZD. Section 64ZV(4) For each application for a renewal of the licence of a licensed technical representative (broker) for 3 years to carry on, as an agent of any licensed insurance broker company, regulated activities in— (a) general business 810 (b) long term business (excluding linked long term business) 810 (c) long term business (including linked long term business) 1,090 (d) general business and long term business (excluding linked long term business) 1,620 (e) general business and long term business (including linked long term business) 1,900 7BZE. Section 64ZV(4) For each application for a renewal of the licence of a licensed technical representative (broker) for 2 years to carry on, as an agent of any licensed insurance broker company, regulated activities in— (a) general business 600 (b) long term business (excluding linked long term business) 600 (c) long term business (including linked long term business) 800 (d) general business and long term business (excluding linked long term business) 1,200 (e) general business and long term business (including linked long term business) 1,400 7BZF. Section 79(2)(a) For each application for an exemption from any provision of Part X of the Ordinance 20,000 7C. Section 95I(4)(a) For each application under section 95I(2) of the Ordinance for approval for a person to be— (a) a minority shareholder controller of a designated insurance holding company 50,000 (b) a majority shareholder controller of a designated insurance holding company 100,000 7D. Section 95K(4)(a) For each application under section 95K(2) of the Ordinance for approval for a person to be— (a) a minority shareholder controller of a designated insurance holding company 50,000 (b) a majority shareholder controller of a designated insurance holding company 100,000 7E. Section 95L(7)(a) For each application under section 95L(5) of the Ordinance for approval for a person to be— (a) a minority shareholder controller of a designated insurance holding company 50,000 (b) a majority shareholder controller of a designated insurance holding company 100,000 7F. Section 95S(4)(a) For each application for approval of the appointment of a chief executive 18,000 7G. Section 95S(4)(a) For each application for approval of the appointment of a director 18,000 7H. Section 95S(4)(a) For each application for approval of the appointment of a key person in control functions 18,000 7I. Section 95ZJ(4)(a) For each application for approval of a major acquisition 100,000 7J. Section 95ZL(3)(a) For each application for approval of an assessment framework for major acquisition 50,000 8. Section 128(1)(a)(ii) For each notification of the appointment of— (a) a controller (other than one to whom section 13A or 13B of the Ordinance applies) of an authorized insurer 5,000 (b) a director (other than one to whom section 13AC of the Ordinance applies) of an authorized insurer 5,000 (c) a key person in control functions (other than one to whom section 13AE of the Ordinance applies) of an authorized insurer 5,000 8A. Section 128(1)(a)(ii) For each notification of the fact that a majority shareholder controller has become a minority shareholder controller that is given under section 13BB of the Ordinance 5,000 9. Section 128(1)(a)(ii) For each notification of the appointment of an auditor of an authorized insurer under section 15 of the Ordinance 5,000 10. Section 128(1)(a)(ii) For requesting the Authority to update the information in the register kept under section 5H(1) of the Ordinance 1,300 11. Section 128(1)(a)(ii) For obtaining a duplicate certificate of authorization of an authorized insurer from the Authority 200 12. Section 128(1)(a)(ii) For obtaining a certificate of compliance of an authorized insurer from the Authority 12,000 13. Section 128(1)(a)(ii) For requesting the Authority to waive the fee payable under section 13(1)(b) of the Ordinance 2,000 14. Section 128(1)(a)(ii) For requesting the Authority to accept other standards as being comparable to the prescribed standards for the purposes of section 15C of the Ordinance 5,000 15. (Repealed L.N. 55 of 2024) 16. Section 128(1)(a)(ii) For requesting the Authority to vary under section 17(2) of the Ordinance a prescribed requirement in relation to the submission of statements, reports or other information relating to an authorized insurer’s business 30,000 16A. Section 128(1)(a)(ii) For requesting the Authority to vary under section 21A(2) of the Ordinance a prescribed requirement in relation to the disclosure of information relating to an authorized insurer’s state of affairs 30,000 17. Section 128(1)(a)(ii) For requesting the Authority to permit under section 22A(1) of the Ordinance a non-HK insurer to comply with section 21B(2) and (3), instead of section 21B(5) and (6), of the Ordinance 50,000 18. Section 128(1)(a)(ii) For anything done by the Authority, in performing its function under section 4A(1) of the Ordinance in relation to a petition under section 24(1) of the Ordinance served on it under section 24(3)(c) of the Ordinance (other than things in relation to which the court concerned may award costs to the Authority, for example, for costs relating to the engagement of external counsel or solicitors or both in relation to the petition) 300,000 18A. Section 128(1)(a)(ii) For requesting the Authority to permit under section 25AAC(1) of the Ordinance a non-HK insurer to comply with section 25AA(2), instead of section 25AA(4), of the Ordinance 50,000 19. Section 128(1)(a)(ii) For requesting the Authority to approve the terms and conditions attached to a letter of credit or other commitment from a bank under section 25C(1) of the Ordinance 5,000 20. Section 128(1)(a)(ii) For each application to the Authority for approval of a transfer under section 25D(1) of the Ordinance 300,000 20A. Section 128(1)(a)(ii) For requesting the Authority to waive under section 50C(10) of the Ordinance the fee payable in respect of the financial year to which an annual report mentioned in section 50C(9) of the Ordinance relates and any subsequent financial year 2,000 21. Section 128(1)(a)(ii) For requesting the Authority to disclose information to an auditor or actuary of an authorized insurer to the extent permitted by section 53A(3)(f) of the Ordinance 2,000 21A. Section 128(1)(a)(ii) For each notification of the fact that a majority shareholder controller has become a minority shareholder controller that is given under section 95OA of the Ordinance 5,000 22. Section 128(1)(a)(ii) For requesting the Authority to give consent to a person other than a non-profit making entity for the purposes of section 120(1) or (3) of the Ordinance 5,000 23. Section 128(1)(a)(ii) For requesting the Authority to relax rules under section 130(1) of the Ordinance 30,000 24. Section 128(1)(a)(ii) For requesting the Authority to extend under rule 8 of the Insurance (Submission of Statements, Reports and Information) Rules (Cap. 41 sub. leg. S) the specified period referred to in rule 3(2), 4(1), (2), (3) or (4), 6(1) or 7(1) of those Rules 2,000 (L.N. 57 of 2017; L.N. 43 of 2019; L.N. 263 of 2020; L.N. 55 of 2024; E.R. 1 of 2025) Part 2 Fees Payable under Insurance (Valuation and Capital) Rules (Cap. 41 sub. leg. R) (E.R. 1 of 2025) Column 1 Column 2 Column 3 Column 4 Item Provision of Insurance (Valuation and Capital) Rules Matter in respect ofwhich fee must be paid Fee $ 1. Rule 49(7) For each application for approval to classify an equity as a strategic investment 30,000 2. Rule 63(6) For each application for approval to take into account the additional insurance risk mitigation effect of a contract of reinsurance in determining its risk capital amount for reserve and premium risk 30,000 3. Rule 67(2) For each application for approval to use an applicable insurer’s own assessment to determine the insurer’s risk capital amount for natural catastrophe risk 250,000 4. Rule 67(5)(b) For each submission of information in relation to the use of the applicable insurer’s own assessment 125,000 5. Section 4(2) of Schedule 6 For each application for approval to use an internal assessment process to map an exposure to an instrument or a party to the appropriate credit rating band 200,000 6. Section 4(5)(b) of Schedule 6 For each submission of information in relation to the use of the internal assessment process 100,000 (L.N. 55 of 2024)