Insurance – Page 2

Motion on “Mandatory Provident Fund Schemes (Amendment) Bill 2019” (2020.07.16)

MR CHAN KIN-POR (in Cantonese): President, after listening to Mr KWONG Chun-yu, I come to realize why Hong Kong is reduced to this sorrowful state. That is because many people are spreading specious, biased and far-fetched information in the Council instead of telling the truth. Despite the President’s reminders, Mr KWONG kept saying the same …

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Motion on “Mandatory Provident Fund Schemes (Amendment) Bill 2019” (2020.07.16)

MR CHAN KIN-POR (in Cantonese): Chairman, I speak in support of clauses 13 and 14 of the Bill, because the two amendments concerned are evidently necessary. They seek to respectively revise the proposed cut-off date for the annual registration fee to 1 October this year and to bring the subsidiary to be established under the …

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Motion on “Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019” (2020.07.15)

MR CHAN KIN-POR (in Cantonese): Deputy President, I speak in support of the Second Reading of the Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019 (“the Bill”). The Bill seeks to implement the policy of the Chief Executive and the Financial Secretary to strengthen the status of Hong Kong as an international …

Motion on “Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019” (2020.07.15) Read More »

Council Meetings (Question): Talent Training for the Insurance Sector and the Asset and Wealth Management Sector (2019.10.30)

MR CHAN KIN-POR (in Chinese): President, in view of the persistent shortage of talents faced by the insurance sector as well as the asset and wealth management sector, the Government launched a three-year Pilot Programme to Enhance Talent Training for the Insurance Sector and the Asset and Wealth Management Sector (“Pilot Programme”) in August 2016 …

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Motion on “Inland Revenue and MPF Schemes Legislation (Tax Deductions for Annuity Premiums and MPF Voluntary Contributions) (Amendment) Bill 2018” (2019.03.20)

MR CHAN KIN-POR (in Cantonese): Deputy President, the Government’s plan to introduce tax concessions for Mandatory Provident Fund voluntary contributions (“MPF VCs”) and premiums for deferred annuity policies aims to encourage members of the public to make savings as a financial arrangement for their retirement in future. At present, the grassroots elderly are entitled to …

Motion on “Inland Revenue and MPF Schemes Legislation (Tax Deductions for Annuity Premiums and MPF Voluntary Contributions) (Amendment) Bill 2018” (2019.03.20) Read More »

Council Meetings (Question): Development of the Hong Kong Insurance Trade in the Guangdong-Hong Kong-Macau Greater Bay Area (2019.01.23)

MR CHAN KIN-POR (in Chinese): President, the Government has indicated that it is committed to promoting the development of Hong Kong insurance trade and enhancing Hong Kong’s competitiveness as an insurance hub. Earlier on, the insurance trade has proposed that the Government establish a “Health Insurance Connect”, an online medical insurance sales platform covering the …

Council Meetings (Question): Development of the Hong Kong Insurance Trade in the Guangdong-Hong Kong-Macau Greater Bay Area (2019.01.23) Read More »

Motion Under Rule 49E(2) of the Rules of Procedure (2018.12.12)

MR CHAN KIN-POR (in Cantonese): President, I joined the Bills Committee on Financial Institutions (Resolution) Bill in 2016. The original intent of the legislation was to target the financial institutions that are “too big to fail” (referring to some large international financial institutions at the time) for fear that their failure would have a knock-on …

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Council Meetings (Question): Withdrawal of Benefits by Mandatory Provident Fund Scheme Members (2018.05.09)

MR CHAN KIN-POR (in Chinese): President, at present, Mandatory Provident Fund (“MPF”) scheme members may opt to withdraw their MPF accrued benefits (“benefits”) in their MPF accounts by instalments or in a lump sum upon their retirement or early retirement. Among those MPF scheme members who withdrew their benefits in 2016 and 2017 on grounds …

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Council Meetings (Question): Establishing an Insurance Claims Database to Assist in Combating Fraudulent Insurance Claims (2017.07.12)

MR CHAN KIN-POR (in Chinese): President, after making reference to the relevant practices in countries such as the United Kingdom, the United States and Singapore, the Hong Kong Federation of Insurers (“HKFI”) has decided to establish an insurance claims database to collect and analyse claims data with a view to identifying fraudulent insurance claims at …

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Council Meetings (Question): Life Annuity Scheme to be Launched by the Hong Kong Mortgage Corporation Limited (2017.06.14)

MR CHAN KIN-POR (in Chinese): President, the Hong Kong Mortgage Corporation Limited will introduce a life annuity scheme (“public annuity scheme”) by the middle of next year at the earliest. The initial design of the scheme is as follows: (i) annuitants aged 65 or above may, after making a lump-sum premium payment, receive immediate lifetime …

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