How am I protected if Bowtie close down ?

Bowtie is no different from other traditional insurance companies in Hong Kong where we are also regulated under the Insurance Authority.

We as an authorized insurer have to comply with the provision of the Insurance Ordinance, and one of the requirements is to maintain adequate solvency under Section 6 of the Insurance Ordinance (Cap. 41).

The objective is to provide a reasonable safeguard against the risk that the insurer’s assets may be inadequate to meet its liabilities arising from unpredictable events, such as adverse fluctuations in its operating result or the value of its assets and liabilities.

The other requirement is to ensure adequate reinsurance arrangements. We must meet certain other conditions as set out in the Authorization Guideline (GL1) (the “Guideline”) issued by the IA, it is to ensure that we are financially sound and competent to provide an adequate level of services to the insuring public.

For more details, you may refer to the link below for more information.