Speech at Bills Committee on Insurance (Amendment) Bill 2023

Bills Committee on Insurance (Amendment) Bill 2023

Mr CHAN Chun-ying:

Expressing support for the Bill

Rationale for implementing a risk-based capital (“RBC”) regime for the insurance industry and the operation of the regime

Reasons why Pillar 2 (corporate governance and risk management) of the framework of the RBC regime would not be subject to regulation through legislation

Capital requirements under the RBC regime

Tax arrangements to tie in with the implementation of the RBC regime and how such arrangements compared with those implemented in other tax jurisdictions