Articles: Life insurance

Ex-ACE Life Insurance manager charged with HK$330k bonus fraud
ICAC, 6-Dec-2019
In the pyramid-selling game of the HK life insurance industry, Ann Kwong Sau Mei is alleged to have faked the credentials of a "down-line agent" in order to meet her bonus target of running 9 down-line agents. The insurer is now known as Chubb Life Insurance Co Ltd.
FWD Life Insurance v Alpha Lam Chi Chuen and Sin Chau Yuk
HK Court of First Instance, 21-Nov-2019
Another case of huge conditional advances made to life insurance agents which underlines just how much the industry takes out of the premiums paid by customers. It is probably the most inefficient form of savings known to mankind, except for fine art. The court orders the advances to be repaid.
Ex-AIA District Director gets 30 months for HK$4.4m signing fee fraud
ICAC, 17-Nov-2016
Ex-AIA District Director guilty of HK$4.4m signing fee fraud
ICAC, 28-Oct-2016
Cindy Poon Sin Mei v FWD Life Insurance Co (Bermuda) Ltd
HK Court of First Instance, 30-Sep-2016
Ex-AIA District Director in court for alleged HK$4.4m fraud
ICAC, 12-Mar-2015
AIA/SCB trio in court for alleged insurance policy and commissions fraud
ICAC, 17-Apr-2014
Winnie Ho Shuk Ching v George Lung Chee Ming
HK Court of First Instance, 29-Jan-2013
An unlicensed person claims an introductory fee for introducing business to a Manulife insurance agent.
Winnie Shum Ngo Sheung v Stella Tsoi Yan Wah
HK District Court, 28-Dec-2012
A spat between two insurance agents who have worked their way through MassMutual, then AIA and on to Manulife in the course of 6 years.
Five charged with bribery and fraud over bogus insurance policies
ICAC, 11-Jan-2012
American International Assurance Co (Bermuda) Ltd v Cheung Sin Man
HK Court of First Instance, 4-Jan-2012
The impressive thing about this case is the numbers: for selling investment-linked plans and policies which produced premiums of $20.26m in 2011, the agent received commissions of US$789k (HK$6.15m), or about 30.4%. How do the customers of insurance companies expect a decent return with such costs?
Tsoi Yiu Chung v ING Life Insurance Co (Bermuda) Ltd
HK Court of Appeal, 22-Feb-2011

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