Generally speaking, there are no specific statutory limitations or criteria on the type of start-ups that an insurer can invest in. Insurers should, however, observe the Guideline on Asset Management by Authorised Insurers ("GL13") in making its investments.
The insurer can invest in an insurtech start-up either as equity instruments or by granting of loans.
There are no specific statutory restrictions on investing in an onshore start-up. Insurers should, however, observe the Guideline on Asset Management by Authorised Insurers in making its investments.
There are no specific statutory restrictions on investing in an offshore start-up. Insurers should, however, observe the Guideline on Asset Management by Authorised Insurers in making its investments.
There are no specific statutory restrictions on granting loans to start-ups. Insurers should, however, observe the Guideline on Asset Management by Authorised Insurers.
There are no specific statutory requirements. Insurers should follow their internal investment process and usually, approval from the investment committee and board would be required.
The law provides for various avenues for the protection of minority shareholders, such as application to court for inspection of records of the company, petition to the court for relief for unfair prejudice or bringing a derivative action.
Generally, there are no statutory restrictions, subject to any consideration on potential conflict of interest, and provided that it will not affect the fitness and propriety of the relevant management staff.
- There is none, assuming that the insurer is not a listed company and is not subject to listing rules.
- Depending on the type of services provided, the contract may be subject to the relevant regulatory requirements under the outsourcing regime and may need clearance from the Insurance Authority.
There are none from the insurance regulatory perspective, except for notification or approval requirements under the outsourcing regime.
There are no specific statutory restriction. General principles will apply, such as it should be at arm's length, it should not affect policyholders' interest, fitness and propriety and the financial position of the insurer, or give rise to a potential conflict of interest situation.
There are no specific statutory restriction. General principles will apply, such as it should be at arm's length; it should not affect policyholders' interest, fitness and propriety and the financial position of the insurer; or give rise to a potential conflict of interest situation.
Intellectual property rights are generally transferred through an assignment agreement.
The Personal Data (Privacy) Ordinance and the relevant codes issued by the Privacy Commissioner regulates the collection, use, retention, disclosure and transfer of personal data in Hong Kong.