TUESDAY, MAY 8, 1990
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MARINE INCIDENT SHOULD BE SORTED OUT THROUGH
NORMAL BORDER LIAISON CHANNELS: GOVERNOR
THE GOVERNOR, SIR DAVID WILSON, SAID TODAY (TUESDAY) IT IS NOW HIGH TIME THAT THE MARINE INCIDENT LAST WEEK IS SORTED OUT THROUGH THE NORMAL BORDER LIAISON CHANNELS.
ASKED BY REPORTERS TO COMMENT ON THE INCIDENT AFTER ATTENDING A MEETING OF THE EXECUTIVE COUNCIL, SIR DAVID SAID: "THE FACTS OF THE CASE AS WE KNOW THEM ARE AS WE'VE STATED THEM, AND WHAT NOW NEEDS ΤΟ BE DONE IS TO GET ON, SORT IT OUT THROUGH BORDER LIAISON CHANNELS.
"THAT'S THE WAY IT SHOULD BE DONE, NOT THROUGH STATEMENTS WHICH SIMPLY RAISE THE TEMPERATURE, BUT DEALING WITH THE MATTER AS A PRACTICAL PROBLEM, THE GOVERNOR SAID.
P
THREE NEW INSURANCE COMPANIES AUTHORISED TO DO BUSINESS
THREE NEW INSURANCE COMPANIES, ALL INCORPORATED OVERSEAS, WERE AUTHORISED TO CARRY ON INSURANCE BUSINESS IN OR FROM HONG KONG DURING THE 1989-90 FINANCIAL YEAR, THE REGISTRAR GENERAL, MR NOEL GLEESON, SAID TODAY (TUESDAY).
INSURERS DURING THE SAME PERIOD, FOUR EXISTING
CEASED ΤΟ BE AUTHORISED FOLLOWING THE CESSATION OR ORDERLY RUN-OFF OF THEIR INSURANCE BUSINESS IN HONG KONG.
AS AT MARCH 31 THIS YEAR, THERE WERE 274 AUTHORISED INSURERS A OPERATING IN HONG KONG, REPRESENTING
NET DECREASE OF ONE SINCE
MARCH 31 LAST YEAR.
+
OF THESE 126 WERE HONG KONG INSURERS, FROM OVERSEAS, INCLUDING THE UK (38), USA (28) (EIGHT), SINGAPORE (SEVEN), SWITZERLAND (SEVEN)
THE REMAINING COMING BERMUDA (11), JAPAN AND CANADA (SIX).
ATTRIBUTED
THE
IN ANNOUNCING THE ABOVE FIGURES, MR GLEESON STABLE NUMBER OF AUTHORISED INSURERS ΤΟ THE GENERALLY EFFECTIVE COMPANIES LEGISLATIVE FRAMEWORK GOVERNING THE REGULATION OF INSURANCE
HONG MONITORING THE STATUS OF EXISTING INSURERS.
IN
KONG, AND THE INSURANCE AUTHORITY'S POLICY OF CLOSELY
FORMAL FOR THE
LAST FINANCIAL MR GLEESON SAID DURING THE
ONE YEAR, APPLICATION FOR AUTHORISATION WAS RECEIVED, COMPARED WITH 10 PREVIOUS FINANCIAL YEAR (1989-90).
THE MORE
HE SAID THE DROP IN NEW APPLICATIONS WAS A RESULT OF STRINGENT AUTHORISATION CRITERIA APPLIED BY THE INSURANCE AUTHORITY.
/AS AT