What Changed
- The IA banned Lim Ka Kit from being an insurance intermediary for nine months in a joint action with the HKMA.
- The HKMA found Lim pressurised eight telemarketing clients and twice induced clients to alter height and weight metrics for underwriting.
- The action was carried out under the Memorandum of Understanding on cross-sector collaboration between the HKMA and the IA.
Insurance intermediaries, bank personnel distributing financial products, and financial institutions operating in Hong Kong SAR must adhere strictly to fair treatment and ethical selling standards. On November 11, 2026, the Insurance Authority (IA) and the Hong Kong Monetary Authority (HKMA) issued a joint press release announcing a nine-month ban against Lim Ka Kit, a former technical representative (agent) of an Authorized Institution (Licence number: IC3091), prohibiting him from acting as an insurance intermediary.
The enforcement action follows an investigation conducted by the HKMA, which revealed that Lim engaged in improper sales practices during telemarketing. Specifically, Lim pressurised eight clients into acquiring medical insurance policies despite their requests for additional time to consider the decisions. In addition, on two separate occasions, Lim went further by inducing clients to alter their reported heights and weights to meet the relevant underwriting requirements of the insurer.
Ms Maria Tsui, Head of Enforcement of the IA, stated that the case underscores the vital importance of ethical selling and treating customers fairly to establish long-term trust in the financial sector. Mr Raymond Chan, Executive Director (Enforcement and AML) of the HKMA, noted that the HKMA continues to strengthen cross-sector enforcement collaboration with the IA to safeguard bank customers and uphold high standards in product distribution.
This joint action was executed under the Memorandum of Understanding on cross-sector collaboration between the HKMA and the IA. Detailed information has been made available under the 'Enforcement News' and 'Register of Licensed Insurance Intermediaries' sections on the IA's website, as well as the 'Enforcement Actions' section on the HKMA's website.
Who May Be Affected
Insurance intermediaries, bank distribution staff, and authorized financial institutions operating in Hong Kong SAR.
Cross-Border Context
Relevant to international banks and cross-border financial entities offering insurance products through authorized institutions in Hong Kong SAR.
What to check next
- Check the Enforcement News and Register of Licensed Insurance Intermediaries sections on the IA website.
- Check the Enforcement Actions section on the HKMA website.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.