Will the individual insurance license issued by the Hong Kong Insurance Authority expire? How long is the validity period?

In Hong Kong, insurance intermediaries (including insurance agents and insurance brokers) can maintain their license validity as long as their license has not been terminated or revoked. 

However, in order to maintain the validity of the license, they must also meet the following requirements:

1.License renewal: The validity period of the license issued by the Insurance Authority to licensed insurance intermediaries is 3 years (unless there are special circumstances), so they need to renew their license every 3 years. 

Licensed insurance intermediaries must apply for renewal to the Insurance Authority no later than 45 days before the expiration date of the existing license. Individual license holders (i.e., licensed individual insurance agents, licensed responsible officers (agents), and licensed responsible officers (brokers)) can submit their license renewal applications electronically through the “Insurance Intermediaries One-stop Platform”. For details of the license renewal process on the “Insurance Intermediaries One-stop Platform”, please refer to:

2.License renewal fee

The Insurance Authority took over the regulatory task of the insurance industry on September 23, 2019. Under the new regulatory regime for insurance intermediaries, the application fee for the first five years (i.e., from September 23, 2019, to September 22, 2024) has been waived. The subsequent license fees have not yet been announced.

3.Continuing professional development (CPD)

The “Guidelines on Continuing Professional Development for Licensed Insurance Intermediaries” stipulate the requirements for licensed insurance intermediaries’ CPD as follows: “Licensed individual insurance intermediaries should keep up-to-date with their professional and regulatory knowledge, and ethical standards through CPD activities to ensure their professional competence in carrying out regulated activities.” Therefore, individual license holders (i.e., licensed individual insurance agents, licensed responsible officers (agents), and licensed responsible officers (brokers)) must participate in qualified CPD activities within each assessment period (usually from August 1 of the previous year to July 31 of the current year) to obtain at least 15 CPD hours, including at least 3 CPD hours related to “ethics or regulations”, and submit a “CPD Declaration”.

Tourism insurance agents are required to obtain at least 3 CPD hours per year, and are not required to participate in “ethics or regulations”-related CPD activities.

4.Continuing to meet the “Fit and Proper” criteria

The “Guideline on Fit and Proper Criteria for Licensed Insurance Intermediaries” stipulates that licensed insurance intermediaries should continue to meet the “Fit and Proper” criteria. 

Therefore, licensed insurance intermediaries must not only meet the requirements of the guideline before applying for a license, but also continue to meet the “Fit and Proper” criteria after obtaining the license, such as having appropriate skills and reliable reputation.

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