Macau Insurance Industry-Governance, Risk and Compliance

Macau Insurance Industry-Governance, Risk and Compliance

  • GlobalData
  • December 2020
  • Banking
  • 68 pages

Report Description

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Macau Insurance Industry - Governance, Risk and Compliance

Summary

GlobalDatas Macau Insurance Industry - Governance, Risk, and Compliance report is the result of extensive research into the insurance regulatory framework in Macau.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalDatas research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Key Highlights

- The Monetary Authority of Macau regulates the Macanese insurance industry.
- Macaus FDI regime allows 100% foreign ownership in domestic insurance companies.
- Non-admitted insurance in general is not permitted in Macau. However, the placement of insurance contracts with an unlicensed entity is permitted only with prior approval from the AMCM.
- Composite insurance is not permitted in Macau.
- Motor third-party liability insurance and employees compensation insurance are compulsory in Macau.

The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Macau, including -
- An overview of the insurance regulatory framework in Macau
- The latest key changes, and changes expected in the countrys insurance regulatory framework
- Key regulations and market practices related to different types of insurance product in the country
- Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Macau
- Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations
- Details of the tax and legal systems in the country

Scope

- The report covers details of the insurance regulatory framework in Macau.
- The report contains details of the rules and regulations governing insurance products and insurance entities.
- The report lists and analyzes key trends and developments pertaining to the countrys insurance regulatory framework.
- The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
- The report provides details of taxation imposed on insurance products and insurance companies.

Reasons to Buy

- Gain insights into the insurance regulatory framework in Macau.
- Track the latest regulatory changes, and expected changes impacting the Macau insurance industry.
- Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
- Understand key regulations and market practices pertaining to various types of insurance product

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Table of Contents
1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions
2 GOVERNANCE, RISK AND COMPLIANCE

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