Insurance Sector
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= Chinese
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=Portuguese
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* The English
version is for reference only. The Chinese and Portuguese versions are
the official versions.
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**
The laws/notices below are in Adobe Acrobat format (.pdf).
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Main Regulation On Insurance Activity And Private Pension Funds
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Macau Insurance Ordinance
(Decree-Law no. 27/97/M, 30 June
1997)
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Insurance
Agents & Brokers Ordinance
(Decree-Law
no. 38/89/M, 5 June 1989 - Republished by Administrative Order no.27/2001
of 28 June
2001)
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Amendments
to the legal framework for the carrying on of insurance intermediary
business
(Decree-Law
no. 14/2003, 6 May 2003)
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Legal framework for Private Pension
Funds
(Decree-Law no. 6/99/M, 8 February
1999)
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Amendments to the Legal Framework
of Private Pension Funds
(Law no. 10/2001, of 2 July 2001)
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Compulsory Insurances
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Motor
Vehicles Insurance (Third Party Risks) Ordinance
(Decree-Law
no. 57/94/M, 28 November 1994)
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Employees'
Compensation Insurance Ordinance
(Decree-Law
no. 40/95/M, 14 August 1995)
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Employees' Compensation Insurance
Tariff Rates
(Applicable
from 1 April 1999 up to 31 December 2006)
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Revision
of compensation limits established under Article 28 paragraph 2 b),
Article 41 paragraph 5 a)
and
b), Article 47 paragraph 2, Article 50 paragraph 4 and Article 51 paragraph
1 of the Employees'
Compensation
Insurance Ordinance
(Executive
Order No. 48/2006, of 16 November)
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Increase
of 4.0% in the amount of premium calculated by applying the tariff rates
set out in Chapter II
of
the Employees' Compensation Insurance Tariff approved by the Executive
Order n.º 236/95/M, of 14
August,
and revised by Executive Order No. 95/99/M, of 29 March
(Executive Order No. 49/2006, of 16 November)
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Employees'
Compensation Insurance Tariff Rates
(Applicable
from 1 January 2007)
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Amendment
to the Employees' Compensation Insurance
Ordinance
(Law
No. 6/2007, of 11 December 2007)
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Public Liability Insurance relation
to the fixing of Propaganda & Publicity Material
(Decree-Law
no. 38/96/M, 15 July 1996)
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Third Party
Liability Insurance for Pleasure Boats
(Decree-Law no. 104/99/M,
13 December 1999)
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Professional
Liability Insurance for Travel Agencies
(Executive Order no. 263/99/M,
14 June 1999)
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Amendment
to the Executive Order No. 263/99/M - Uniform Policy of the Professional
Liability
Insurance
for Travel Agencies
(Executive
Order No. 25/2007, of 30 May 2007)
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Tariff rates for Professional
Liability Insurance for Travel Agencies
(Executive Order no. 265/99/M, of 14 June 1999)
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Amendment to the Employees' Compensation
Insurance Ordinance
(Law No. 12/2001, of 6 August 2001)
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Amendment to Article 5 paragraph
2 of the Uniform Policy for the Employees' Compensation
Insurance
(Executive Order No. 32/2001, of 7 August 2001)
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Uniform Policy
for Third Party Liability Insurance for Pleasure Boats
(Administrative Order no.
24/2003, 10 July)
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Establishment
of Compulsory Professional Liability Insurance for Lawyers
(Administrative Regulation
Nº 39/2003, 4 December 2003)
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Uniform
Policy for Compulsory Professional Liability Insurance for Lawyers
(Administrative Regulation Nº
40/2003, 4 December 2003)
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Tariff
of Premiums for Compulsory Professional Liability Insurance for Lawyers
(Administrative Regulation Nº
41/2003, 4 December 2003)
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Tariff
Rates for the Third Party Liability Insurance for Pleasure Boats
(Administrative Regulation
no. 3/2004, 14 January 2004)
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Revision
of compensation limits established under Article 47 paragraph 2 and
Article 50 paragraph 4 of the Employees' Compensation
(Executive Order No. 48/2007,
of 14 December)
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Increase
of 5.0% in the amount of premium calculated by applying the tariff rates
set out in Chapter II of the Employees' Compensation Insurance Tariff
approved by the Executive Order N.º 236/95/M, of 14 August, and revised
by Executive Order No. 49/2006, of 16 November
(Executive Order No. 49/2007,
of 14 December)
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Employees'
Compensation Insurance Tariff Rates
(Applicable from 1 January
2008)
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Increase
of 5.0% in the amount of premium calculated by applying the tariff rates
set out in Chapter II of the Employees' Compensation Insurance
Tariff approved by the Executive Order N.º 236/95/M, of 14 August, and
revised by Executive Order No. 49/2007, of
14 December
(Executive Order No. 40/2008,
of 14 November) |
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The
Employees' Compensation Insurance Ordinance
(Executive
Order No. 41/2008, of 14 November) |
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Employees'
Compensation Insurance Tariff Rates
(Applicable from 1 January 2009) |
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Revision
of compensation limits established under Article 47 paragraph 2 and
Article 50 paragraph 4 of the Employees' Compensation Insurance Ordinance
(Executive
Order No. 130/2009, of 31 December) |
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Increase
of 5.0% in the amount of premium calculated by applying the tariff rates
set out in Chapter II of the Employees' Compensation Insurance
Tariff approved by the Executive Order N.º 236/95/M, of 14 August, and
revised by Executive Order No. 40/2008 of 14 November
(Executive
Order No. 131/2009, of 31 December) |
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Employees'
Compensation Insurance Tariff Rates
(Applicable from 1 January 2010) |
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Notices In Force From AMCM
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Valuation
criteria to be observed by insurers in respect of their assets & liabilities
(Notice no.
3/1990 - AMCM, March 1990)
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Refusal to
accept motor insurance contracts
(Notice no.
5/1995 - AMCM, May 1995)
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Refusal
to accept Employees' Compensation Insurance contracts
(Notice
No. 006/1996 - AMCM, April 1996)
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Conditions to be met by actuaries
of closed pension funds
(Notice no. 8/2000 - AMCM, November
2000)
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Individual or collective membership
of open pension funds
(Notice no. 9/2000 - AMCM, November
2000)
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Rules for financial, technical and
actuarial management of pension funds
(Notice no. 14/2000 - AMCM, December
2000)
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Certification of appointed actuary
of closed pension funds
(Notice no. 5/2001 - AMCM, March
2001)
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Determination
of loss ratio variation reserve of credit insurance (commercial risks)
(Notice
No. 7/2001 - AMCM, May 2001)
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Guidelines
for issuing insurance policies to nonresidents in the Macao Special
Administrative Region
(Notice
No. 9/2001 - AMCM, August 2001)
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Rules
for admission of depositories of pension funds
(Notice
No. 10/2001 - AMCM, August 2001)
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Utilization
of derivatives in pension funds
(Notice
No. 14/2001 - AMCM, October 2001)
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Control
of the maximum number of insurance companies to whom the insurance agents
render their
services
(Notice
No. 19/2001 - AMCM, December
2001)
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Certificate awarded to insurance
intermediaries for passing the examinations
(Notice No. 10/2002 - AMCM,
May 2002)
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Inclusion of Macau Institute
of Financial Services in the list of institutions considered competent
by
the AMCM and the levels of passing for the purpose of exemption from the Insurance
Intermediaries
Qualifying Examinations
(Notice No. 06/2003 - AMCM,
February 2003)
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Standard
illustrations for life insurance policies
(Notice
No. 07/2003 - AMCM, March 2003)
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"Cooling-off"
rights for purchasers of life insurance policies
(Notice
No. 08/2003 - AMCM, March 2003)
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Guidelines
for life insurance replacement
(Notice
No. 10/2003 - AMCM, March 2003)
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Alteration of the effective
date of enactment of four notices
(Notice No. 17/2003 - AMCM,
June 2003)
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Amendment
to the "Customer protection declaration for purchasers of life Insurance"
(Notice
No. 20/2003 - AMCM, July 2003)
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Supervisory fees of insurance
companies for year 2004
(Notice No. 22/2004 - AMCM, December 2004)
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Registration fees of insurance
intermediaries for the year 2005
(Notice No. 23/2004 - AMCM, December 2004)
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Calculation of Unearned Premium
Reserve on an overall basis
(Notice No. 24/2004 - AMCM, December 2004)
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List
of authorised insurance companies and private pension fund managers
(Notice
No. 004/2005 - AMCM, January 2005)
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Calculation
of the amount of margin of solvency
(Notice
No. 005/2005 - AMCM, January 2005)
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Composition
of assets guaranteeing the technical reserves
(Notice
No. 006/2005 - AMCM, January 2005)
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List of intermedaries authorised
to conduct insurance intermediary business in Macau and their
respective registration numbers
(Notice No. 007/2005 - AMCM, June 2005)
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List of institutions considered
competent by the AMCM and the level of passing for the purpose of
exemption from the insurance intermediary qualifying examinations
(Notice No. 008/2005 - AMCM, June 2005)
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Composition
and valuation of assets constituting the patrimony of pension funds
(Notice
No. 010/2005 - AMCM, August 2005)
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Commissions payable to insurance
intermediaries under compulsory and facultative insurances
(Notice No. 12/2005 - AMCM, October 2005)
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Supervisory fees of insurance
companies for year 2005
(Notice No. 13/2005 - AMCM, December 2005)
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Registration fees of insurance
intermediaries for the year 2006
(Notice No. 14/2005 - AMCM, December 2005)
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Calculation of Unearned Premium
Reserve on an overall basis
(Notice No. 15/2005 - AMCM, December 2005)
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List
of authorised insurance companies and private pension fund managers
(Notice
No. 002/2006 - AMCM, January 2006)
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Composition
of assets guaranteeing the technical reserves
(Notice
No. 003/2006 - AMCM, January 2006)
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Calculation
of the amount of margin of solvency
(Notice
No. 004/2006 - AMCM, January 2006)
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List of intermedaries authorised
to conduct insurance intermediary business in Macau and their
respective registration numbers
(Notice No. 006/2006 - AMCM, June 2006) |
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List of institutions considered
competent by the AMCM and the level of passing for the purpose of
exemption from the insurance intermediary qualifying examinations
(Notice No. 007/2006 - AMCM, June 2006) |
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Commissions payable to insurance
intermediaries under compulsory and facultative insurances
(Notice No. 10/2006 - AMCM, October 2006) |
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Guidelines
on prevention and combating of money laundering and financing of terrorism
in insurance
(with
the amendments made by Notice No. 12/2006 - AMCM, of 11 October and
the new report form to
be
effective from 29 January 2007) |
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Calculation of Unearned Premium
Reserve on an overall basis
(Notice No. 13/2006 - AMCM, October 2006) |
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Supervisory fees of insurance companies
for year 2006
(Notice No. 14/2006 - AMCM, December 2006) |
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Registration fees of insurance intermediaries
for the year 2007
(Notice No. 15/2006 - AMCM, December 2006) |
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List
of authorised insurance companies and private pension fund managers
(Notice
No. 002/2007 - AMCM, January 2007) |
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Composition
of assets guaranteeing the technical reserves
(Notice
No. 003/2007 - AMCM, January 2007) |
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Calculation
of the amount of margin of solvency
(Notice
No. 004/2007 - AMCM, January 2007) |
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List of intermedaries authorised
to conduct insurance intermediary business in Macau and their
respective registration numbers
(Notice No. 006/2007 - AMCM, June 2007) |
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List of institutions considered
competent by the AMCM and the level of passing for the purpose
of exemption from the insurance intermediary qualifying examinations
(Notice No. 007/2007 - AMCM, June 2007) |
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Supervision
of insurance activity - Guaranteeing of technical reserves involving
abnormally high
claims
or in case of fronting
(Notice
No. 008/2007 - AMCM, June 2007) |
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Commissions
payable to insurance intermediaries under compulsory and facultative
insurances
(Notice
No. 010/2007 - AMCM, October 2007) |
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Supervisory fees of insurance companies
for year 2007
(Notice No. 12/2007 - AMCM, December 2007) |
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Calculation of Unearned Premium
Reserve on an overall basis
(Notice No. 13/2007 - AMCM, December 2007) |
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Registration fees of insurance intermediaries
for the year 2008
(Notice No. 14/2007 - AMCM, December 2007) |
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List
of authorised insurance companies and private pension fund managers
(Notice
No. 002/2008 - AMCM, January 2008) |
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Composition
of assets guaranteeing the technical reserves
(Notice
No. 003/2008 - AMCM, January 2008) |
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Calculation
of the amount of margin of solvency
(Notice
No. 004/2008 - AMCM, January 2008) |
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Guidelines
on the use of Internet for insurance activities
(Notice
No. 006/2008 - AMCM, February 2008) |
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List
of institutions considered competent by the AMCM and the level of passing
for the purpose of exemption from the insurance intermediary qualifying
examinations
(Notice
No. 007/2008 - AMCM, June 2008) |
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List
of intermediaries authorised to conduct insurance intermediary business
in Macau and their respective registration numbers
(Notice
No. 008/2008 - AMCM, June 2008) |
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Guidelines on prevention and combating money laundering and financing
of terrorism in insurance
(Notice
No. 009/2008 - AMCM, June 2008) |
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Commissions payable to insurance intermediaries under compulsory and
facultative insurances
(Notice
No. 011/2008 - AMCM, October
2008) |
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Calculation of Unearned Premium
Reserve on an overall basis
(Notice No. 12/2008 - AMCM, December 2008) |
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Supervisory fees of insurance companies
for year 2008
(Notice No. 13/2008 - AMCM, December 2008) |
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Registration fees of insurance intermediaries
for the year 2009
(Notice No. 14/2008 - AMCM, December 2008) |
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List of authorised insurance companies
and private pension fund managers
(Notice No. 002/2009 - AMCM, January 2009) |
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Composition
of assets guaranteeing the technical reserves
(Notice
No. 003/2009 - AMCM, January 2009) |
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Calculation
of the amount of margin of solvency
(Notice
No. 004/2009 - AMCM, January 2009) |
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Rules
for admission of depositories of pension funds
(Notice
No. 006/2009 - AMCM, January 2009)
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Composition
and valuation of assets constituting the patrimony of pension funds
(Notice
No. 007/2009 - AMCM, January 2009)
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List
of intermediaries authorised to conduct insurance intermediary business
in Macau and their respective registration numbers
(Notice
No. 008/2009 - AMCM, June 2009) |
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List
of institutions considered competent by the AMCM and the level of passing
for the purpose of exemption from the insurance intermediary qualifying
examinations
(Notice
No. 009/2009 - AMCM, June 2009) |
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Commissions
payable to insurance intermediaries under compulsory and facultative
insurances
(Notice
No. 013/2009 - AMCM, October 2009) |
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Guidelines
issued to authorised insurance institutions on handling of complaints
from policyholders, customers and third parties
(Notice
No. 014/2009 - AMCM, November 2009) |
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Calculation of Unearned Premium
Reserve on an overall basis
(Notice No. 015/2009 - AMCM, December 2009) |
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Supervisory fees of insurance companies
for year 2009
(Notice No. 016/2009 - AMCM, December 2009) |
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Registration fees of insurance intermediaries
for the year 2010
(Notice No. 017/2009 - AMCM, December 2009) |
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Composition
of assets guaranteeing the technical reserves
(Notice
No. 003/2010 - AMCM, January 2010) |
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Calculation
of the amount of margin of solvency
(Notice
No. 004/2010 - AMCM, January 2010) |
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Composition
and valuation of assets constituting the patrimony of pension funds
(Notice
No. 005/2010 - AMCM, January 2010) |
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List of authorised insurance
companies and private pension fund managers
(Notice No. 006/2010 - AMCM, June 2010) |
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List
of intermediaries authorised to conduct insurance intermediary business
in Macau and their respective registration numbers
(Notice
No. 007/2010 - AMCM, June 2010) |
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List
of institutions considered competent by the AMCM and the level of passing
for the purpose of exemption from the insurance intermediary qualifying
examinations
(Notice
No. 008/2010 - AMCM, June 2010) |
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Supervision
of insurance activity - Guaranteeing of technical reserves involving
abnormally high
claims
or in case of fronting
(Notice
No. 009/2010 - AMCM, June 2010) |
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Circulars And Announcements
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Private pension
funds and tax exemptions
(12 December 2002)
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Public
consultation document on the proposed amendment to “Insurance Contract
Law” contained in
the
Commercial Code
(December
2007)
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Policy
statement on the handling of complaints against insurance companies,
insurance intermediaries and private pension fund management companies
(August
2008)
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Other Guidelines
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Indicators
of suspicious transactions of money laundering in insurance and Specific
cases and
examples
of money laundering involving insurance
(February
2006)
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Standard
form of Suspicious Transaction Report
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Last Updated: 2010-7-6
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