On 8 August 2025, the Insurance Authority ("IA") published consultation conclusions on draft rules for public disclosure requirements. These rules, part of the Risk-based Capital Regime's Pillar 3, outline details on the information insurers must disclose to the public. The draft rules were well-received with minor comments on scope and items to be disclosed. The IA considered these comments and made appropriate amendments. The draft will be introduced to the Legislative Council for vetting in 2026, with a target date of operation in 2026.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On 8 August 2025, the Insurance Authority ("IA") issued the consultation conclusions for the draft Insurance (Public Disclosure) Rules. These rules, aligned with Pillar 3 of the Risk-based Capital Regime, outline the specific disclosures insurers must make to the public and the timing for such disclosures.
Initially published in March 2025 for public consultation, the draft Rules garnered generally positive support, albeit with feedback centering around the scope of their applicability and the specific details to be disclosed. The IA carefully reviewed the feedback and incorporated necessary amendments into the revised draft Rules.
The revised draft Rules will be submitted to the Legislative Council for negative vetting. The IA's objective is to enact these rules and have them operational by the end of 2026.
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