Insurance regulation in Macau

Macau is officially known as the Special Administrative Region of the People’s Republic of China (“Macau SAR”). The Macau SAR insurance regulator is the Monetary Authority of Macau, known by its Portuguese acronym “AMCM”, which operates under the authority of Macau SAR’s Chief Executive. The Insurance Supervision Department is AMCM’s dedicated insurance unit. Insurers must be licensed and will be either life or non-life. Composite licences are not granted to insurers, but are available for reinsurers. A company carrying on business as an insurance broker or insurance agent must be approved by AMCM and at least one individual must be appropriately qualified. Readmore: http://www.nortonrosefulbright.com/knowledge/publications/113852/insurance-regulation-in-macau