【法规名称】
【法规编号】 82469 什么是编号？
【正 文】
第5页 CAP 41G INSURANCE COMPANIES (GENERAL BUSINESS) (VALUATION) REGULATION
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[接上页] (Enacted 1995) Cap 41G s 8 Unlisted securities The value of an unlisted security must be not greater than 75% of the ready market price of the security or, if there is no ready market price, must be not greater than 75% of the cost of acquiring that security. (Enacted 1995) Cap 41G s 9 Premiums receivable (1) The value of any gross premiums receivable in respect of contracts of insurance (not being reinsurance contracts) entered into by an insurer after deducting the commissions of agents or brokers payable thereon and the necessary provision for bad and doubtful debts in respect thereof must be not greater than 25% of the gross premium income (where the relevant financial year is a period of 12 months) or the adjusted gross premium income (where the relevant financial year is not a period of 12 months) of the relevant financial year after deducting the commissions of agents or brokers payable on the gross premium income or the adjusted gross premium income, as the case may be. (2) The value of any gross premiums receivable in respect of reinsurance contracts accepted by an insurer after deducting the commissions of agents or brokers payable thereon and the necessary provision for bad and doubtful debts in respect thereof must be not greater than 75% of the gross premium income (where the relevant financial year is a period of 12 months) or the adjusted gross premium income (where the relevant financial year is not a period of 12 months) of the relevant financial year after deducting the commissions of agents or brokers payable on the gross premium income or the adjusted gross premium income, as the case may be. (Enacted 1995) Cap 41G s 10 Intangible assets and deferred acquisition costs No value is to be given to any intangible asset, including deferred acquisition costs, or implied deferred acquisition costs deducted in arriving at unearned premiums. (Enacted 1995) Cap 41G s 11 Discounting of claims Except with the prior approval of the Insurance Authority, a liability reported under paragraph 16(p)(ii) to (v) of Part 4 of the Third Schedule to the Ordinance must not be discounted in its valuation. (Enacted 1995) Cap 41G s 12 Additional amount for unexpired risks Any additional amount for unexpired risks as referred to in paragraph 16(p)(ii) of Part 4 of the Third Schedule to the Ordinance must be valued for each separate class of general business having regard to the experience, if any, of the insurer in carrying on the relevant insurance business or of other persons carrying on the same or similar insurance business. (Enacted 1995) Cap 41G s 13 Other asset or liability Where an asset or a liability of an insurer is to be valued under this Regulation and no provision is made in this Regulation in respect of its valuation, the value of the asset or the amount of the liability must be determined having regard to section 8(4)(c) of the Ordinance. (Enacted 1995) Cap 41G s 14 Asset value to be admitted not exceeding a specified extent for each category of assets (1) Notwithstanding the foregoing provisions of this Regulation, in determining and reporting the value of the assets of an insurer- (a) subject to paragraph (c), the total value of the assets comprising land and buildings held by the insurer and its subsidiaries must be not greater than 30% of the insurer's total eligible asset value; (b) subject to paragraph (c), the total value of the assets comprising listed shares, holdings of units, or other beneficial interests, in unit trusts and mutual funds held by the insurer and its subsidiaries must be not greater than 30% of the insurer's total eligible asset value; (c) the total value of the assets comprising land and buildings, listed shares, holdings of units, or other beneficial interests, in unit trusts and mutual funds held by the insurer and its subsidiaries must be not greater than 40% of the insurer's total eligible asset value; (d) the total value of the assets comprising listed securities held by the insurer and its subsidiaries must be not greater than 50% of the insurer's total eligible asset value; and (e) the total value of the following assets held by the insurer and its subsidiaries must be not greater than 10% of the insurer's total eligible asset value- (i) unlisted shares (excluding those shares in a subsidiary whose values are determined and reported under section 6) and unlisted securities; and (ii) debts (excluding insurance debts) due from individuals or unlisted companies, including the balance of debts due from unlisted subsidiaries after offsetting inter-company balances pursuant to section 5(5).(2) This section does not apply to the assets of an insurer required to be maintained in Hong Kong under section 25A or 25B of the Ordinance for determining and reporting their values for the purposes of those sections. (3) For the avoidance of doubt, a debt due from an individual referred to in subsection (1)(e)(ii) does not include a loan which is secured by a contract of insurance issued by the insurer. (4) In this section (except in subsection (1)(e)(i)), "subsidiary" (附属公司) means a subsidiary the value of whose shares held by the relevant insurer is determined and reported in accordance with section 5. (Enacted 1995) Cap 41G s 15 Asset to be admitted at lower value Notwithstanding that the value given to an asset of an insurer is permissible under this Regulation, if, in all the circumstances of the case, it appears that the asset is of a lesser value than that given, such lesser value is to be the value of the asset. (Enacted 1995) |
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