The Insurance Authority (IA) and the Hong Kong Police Force (HKPF) conducted a joint enforcement operation on 27 August 2026, against an examination centre operated by Greater China Wemedia Association for the qualification of Fellow, Life Management Institute (FLMI) granted by LOMA.
The joint enforcement operation involved a search of nine locations and an arrest of 15 persons, including three active and three former licensed insurance intermediaries.
According to a statement by the IA, there were indications that fraudulent practices had been persisting for some time without effective oversight by LOMA.
The IA has also suspended FLMI as a qualification satisfying the education requirement for licensing as insurance intermediaries with immediate effect. A detailed review will also be carried out on all cases where the qualification was obtained through the examination centre.
“This marks the first joint enforcement operation after the IA and the HKPF signed a Memorandum of Understanding on 27 March 2024, ushering in a lasting partnership committed to upholding integrity of the insurance industry and safeguarding the interest of policyholders,” said IA Head of Enforcement Maria Tsui.