Non-admitted insurance: Permitted, except for compulsory insurances.
Premium tax paid by insured: None, except a 3% charge that applies to motor policies. From 1 July 2007, there is a 11.3% levy on employees’ compensation applied to gross premiums and paid directly to the Occupational Safety and Health Council.
Regulator: The main insurance regulator in Hong Kong is the Office of the Commissioner of Insurance.
Overview: With the exception of motor and employee compensation insurance, non-admitted insurance is permitted in Hong Kong. A Hong Kong resident company may obtain cover for locally based risks from foreign insurers. There are, however, indirect restrictions on foreign insurers’ ability to cover Hong Kong risks.
Overall risk rating: low
