News
2017-01-17
Target obtained Authorization on Additional Classes
Target Insurance (Holdings) Limited (the “Company”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong). The board of directors (the “Board”) of the Company announces that Target Insurance Company, Limited (“Target Insurance”), a wholly-owned subsidiary of the Company, has obtained the formal authorization (“Formal Authorization”) on 17 January 2017 to carry on the Classes 2, 4, 5, 6, 8, 9, 11, 12, 13, 14, 15, 16 and 17 (“Additional Classes”) of General Business in or from Hong Kong under Section 8 of the Insurance Companies Ordinance (Chapter 41 of the Laws of Hong Kong) (the “ICO”). Pursuant to the Formal Authorization, Target Insurance is authorized to write all classes of General Business as set out in Part 3 of the First Schedule of the ICO except that Target Insurance needs to fulfill certain standard procedures before writing direct employees’ compensation insurance policy under Class 13 General Liability. A summary of classes of General Business Target Insurance authorized to write are as follows:

• Accident
• Sickness
• Land vehicles
• Railway rolling stock 
• Aircraft 
• Ships
• Goods in transit 
• Fire and natural forces 
• Damage to property 
• Motor vehicle liability 
• Aircraft liability 
• Liability for ships 
• General liability 
• Credit 
• Suretyship 
• Miscellaneous financial loss
• Legal expenses

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