Regulating maintenance of margin of solvency
|Regulatory Framework > Regulation of Insurers
Section 25A of the Insurance Companies Ordinance (Cap.41) requires an insurer carrying on general business, other than a professional reinsurer and a captive insurer, to maintain assets in Hong Kong of an amount which is not less than the aggregate of 80% of its net liabilities and the solvency margin applicable to its Hong Kong general business.
The objective is to ensure that, in the event of insolvency of an insurer, assets will be available in Hong Kong to meet the claims of Hong Kong policy holders. These claims are accorded a preferential status under Hong Kong's insolvency law to those of ordinary creditors.
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What are the requirements to open a margin account with a stock broker like ameritrade or scottrade?
If Im a student with a income of only a couple thousand a year is it still possible to get a margin account or will I be denied?
"What is the minimum amount required for opening an account?