Notice on Renewal of license for insurance intermediaries
- Insurance intermediaries can renew their licenses starting from five working days preceding the license renewal month. For instance, insurance intermediaries with license to be renewed in March can renew their licenses from five working days preceding March (i.e. 22 February) at the insurance intermediary service counter (Address: Avenida de Sidónio Pais, Edifício Tong Hei Koc, No. 1A, Macau) of the Monetary Authority of Macao (“AMCM”).
- Office hour for license renewal is Monday to Friday, from 9am to 12:30pm and 2:30pm to 5pm.
- Before renewal, insurance intermediaries must fulfil and duly report, to the AMCM, the Continuing Professional Development hours (“CPD hours”).
- Insurance intermediaries can renew their licenses during the aforesaid renewal period by the following procedures :
a) Present license renewal notification letter;
b) Present a valid Macao Identity card and confirm the insurance intermediary number to the cashier for verification; OR
c) In case renewal is processed by other people, insurance intermediary needs to sign a “Power of Attorney” and submit the same, along with other required documents to complete the procedure.
- If CPD hours as mentioned in paragraph 3 cannot be fulfilled, insurance intermediaries are required to submit to the AMCM, a duly completed “Request for Extension of Reporting Period”, at least 10 working days before the last renewal date. After approval granted by the AMCM, the license renewal will be suspended. The concerned insurance intermediaries can neither engage in any insurance intermediary activities nor receive commission, until CPD hours requirement can be fulfilled and license renewal is completed.
- For enquiries concerning renewal, reported and outstanding CPD hours, please click here.
Last revision: 2020-11-18 11:26:03