From 1 January 2018 onwards, a levy on insurance premiums for insurance policies will be payable to the Insurance Authority (IA) by policyowners under Insurance (Levy) Order and Insurance (Levy) Regulation.

Levy is a specific percentage to the premium payable with a levy cap applied per policy per policy year. The levy will be collected from policyowners through insurance companies. Details of levy can be referred to table below. For further information, please visit

As policyowner must pay levy when premium is paid, the levy will be collected when the premium is paid and then remit to Insurance Authority as required by the law. Policyowners shall commit an offence and be liable to a pecuniary penalty not exceeding HK$5,000 for failure to pay the levy in a timely manner.

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Policy Inception Date* and
the Policy Anniversary Date Thereafter
Applicable Levy Rate

General Insurance policy


Long term Life policy


Cap Per Policy Per Policy Year (HK$)


From 1 Jan 2018 till 31 March 2019
(both dates inclusive)


0.040% 2,000 40

From 1 Apr 2019 till 31 March 2020
(both dates inclusive)


0.060% 3,000 60

From 1 Apr 2020 till 31 March 2021
(both dates inclusive)


0.085% 4,250 85

From 1 Apr 2021 onwards
(date inclusive)


0.100% 5,000 100
*For life insurance, it is the Commencing Date in the Certificate of Life Assurance.