On Feb. 29, HK CIB reminded insurance brokers to renew licenses.
HK CIB reminded re the renewal of insurance broker company license and technical representative (broker) license; said the new license period begins on Jul. 1, 2024.
Renewal
Licenses obtained in 2021 are due for renewal in 2024, with the application process starting on Feb. 16, deadline on May 16; current license period ends on Jun. 30, 2024.
Licenses must be renewed once every three years; license fees are waived until Sep. 22, 2024, with no fee payments needed for renewal applications for the time being.
Technical representatives should submit online renewal applications at least 135 days before expiration; all licensees must apply at least 45 days prior, to avoid delays.
Broker companies need to submit Form R4 with required documents, while technical representatives shall apply online, using change in particulars function for updates.
Approval for responsible officers does not need renewal; remains valid until revoked.
