Reporting Requirements

Section 17 of the Insurance Companies Ordinance (Cap.41) ("ICO") provides that an insurer is required to submit annually to the Insurance Authority ("IA") its financial statements prepared in accordance with the requirements of the Third Schedule to the ICO.

An insurer carrying on general business is additionally required to submit annually to the IA an audited General Business Return and audited Statement of Assets and Liabilities pertaining to its Hong Kong general business. The latter requirement does not apply to a professional reinsurer and a captive insurer.

An insurer carrying on long term business is required to submit annually an actuarial investigation report to the IA.