In view of the rapid development of the local insurance market, the increasing complexity of the insurance products available to consumers and the rising trend in the number of insurance intermediaries joining the industry in recent years, the Macao Agents and Brokers Ordinance was updated in 2001 with the prime objective of protecting the interests of the insuring public through enhancement of the overall professionalism of the industry.
One of the principal amendments concerns the introduction of the Insurance Intermediaries Quality Assurance Scheme under which all insurance intermediaries, unless otherwise exempted, are required to pass the Insurance Intermediaries Qualifying Examination (“IIQE”).
The IIQE was introduced on 1st January 2002 and was initially conducted by the Insurance Supervision Department of the Monetary Authority of Macao (“AMCM”). Following the establishment of the Macau Institute of Financial Services (“IFS”) in March 2002, the AMCM appointed the IFS as the examination body to administer the IIQE.
For details of the IIQE, please contact the IFS at the following address:
Macau Institute of Financial Services
Avenida Sidónio Pais, No. 1B
Edifício Tong Hei Koc, R/C
Tel: (853) 28568280
Fax: (853) 28569666
Web site: www.ifs.org.mo
Last revision: 2019-07-01 11:21:25