AXA CHINA REGION INSURANCE COMPANY LIMITED 安盛金融有限公司
3 more ex-AXA China Region insurance agents jailed for 25 to 34 months for conspiracy to defraud over commissions and bonuses totalling HK$950k
ICAC, 15-Apr-2024
ICAC, 15-Apr-2024
3 ex-AXA insurance agents jailed for 12-35 months for HK$2.7m fraud and money-laundering
ICAC, 25-Mar-2024
Another case involving commission payments to a fictional downline insurance agent, who then kicked the payments back up the line, in the pyramid-selling scheme that is the HK life insurance industry.
ICAC, 25-Mar-2024
Another case involving commission payments to a fictional downline insurance agent, who then kicked the payments back up the line, in the pyramid-selling scheme that is the HK life insurance industry.
Another ex-AXA insurance agent charged with alleged HK$1.5m commissions fraud
ICAC, 20-Apr-2023
We infer an incentive to invent clients, pay the first premium on their behalf, and claim the commission. The "policies eventually lapsed after subsequent premiums were not paid". Are buyers in general aware that all of their initial premiums are soaked up by commissions?
ICAC, 20-Apr-2023
We infer an incentive to invent clients, pay the first premium on their behalf, and claim the commission. The "policies eventually lapsed after subsequent premiums were not paid". Are buyers in general aware that all of their initial premiums are soaked up by commissions?
AXA China Region again allegedly conned into paying commissions
ICAC, 1-Feb-2023
Yuki Fan Ting Yan is charged with defrauding AXA of HK$1.9m in commissions and bonuses. As long as the industry offers large up-front rewards built into product prices, it will keep the ICAC busy at taxpayers' expense. Insurers should pay the ICAC a commission too.
ICAC, 1-Feb-2023
Yuki Fan Ting Yan is charged with defrauding AXA of HK$1.9m in commissions and bonuses. As long as the industry offers large up-front rewards built into product prices, it will keep the ICAC busy at taxpayers' expense. Insurers should pay the ICAC a commission too.
Ex-AXA insurance agents charged with alleged HK$1.2m fraud and HK$2.7m money laundering
ICAC, 14-Sep-2021
ICAC, 14-Sep-2021
Ex-AXA financial consultant and an insurance broker charged with commissions fraud
ICAC, 30-Jul-2018
This is the second time around for insurance broker Li Ting Yuen, a former technical representative of CTHK Asset Management Ltd who was convicted in 2016 and jailed for 8 months on a separate charge. Fornia Chan Yin Fei is currently SFC-licensed at Sun Hung Kai Investment Services Ltd.
ICAC, 30-Jul-2018
This is the second time around for insurance broker Li Ting Yuen, a former technical representative of CTHK Asset Management Ltd who was convicted in 2016 and jailed for 8 months on a separate charge. Fornia Chan Yin Fei is currently SFC-licensed at Sun Hung Kai Investment Services Ltd.
Senior branch manager of AXA China Region and wife in court over commissions fraud
ICAC, 25-Jul-2018
ICAC, 25-Jul-2018
Ex-district manager of AXA China Region admits attempted HK$1.4m special advance fraud
ICAC, 9-Jul-2018
ICAC, 9-Jul-2018
Duo jailed for accepting HK$500k bribe and fraud over insurance policy
| Reasons for sentence (Chinese)
ICAC, 6-May-2016
ICAC, 6-May-2016
Duo guilty of bribery and fraud over AXA insurance policy
| Reasons for verdict (Chinese)
ICAC, 29-Apr-2016
An earlier announcement disclosed that the insurance policy was US$2m (HK$15.6m). It earned an up-front commission of HK$1.2m for the agency, CTHK Asset Management Ltd. $0.5m of this made its way to the HSBC staffer, who was only supposed to flog HSBC's prodcuts. The almost 8% front-end fee is a useful reminder of just how inefficient these policies are as a method of savings.
ICAC, 29-Apr-2016
An earlier announcement disclosed that the insurance policy was US$2m (HK$15.6m). It earned an up-front commission of HK$1.2m for the agency, CTHK Asset Management Ltd. $0.5m of this made its way to the HSBC staffer, who was only supposed to flog HSBC's prodcuts. The almost 8% front-end fee is a useful reminder of just how inefficient these policies are as a method of savings.
Integrity Financial Advice Network Co Ltd v Faith Chu Yau Shun
HK Court of First Instance, 15-Mar-2016
The firm was established as a new way to peddle AXA China Region Insurance products. The judge finds Mr Chu "an incredible and unreliable witness" and that Mr Chu failed to meet targets and must pay back HK$4.6m in "transition bonus" and "monthly transition allowance".
HK Court of First Instance, 15-Mar-2016
The firm was established as a new way to peddle AXA China Region Insurance products. The judge finds Mr Chu "an incredible and unreliable witness" and that Mr Chu failed to meet targets and must pay back HK$4.6m in "transition bonus" and "monthly transition allowance".
Integrity Financial Advice Network Co Ltd v Lau Kong Kei: costs
HK Court of First Instance, 12-Oct-2015
HK Court of First Instance, 12-Oct-2015
Integrity Financial Advice Network Co Ltd v Lau Kong Kei
HK Court of First Instance, 31-Aug-2015
The firm was established as a new way to peddle AXA China Region Insurance products after Mr Lau left his previous role as Senior District Director with AIA. The judge finds that Mr Lau must pay back HK$17.3m in advances.
HK Court of First Instance, 31-Aug-2015
The firm was established as a new way to peddle AXA China Region Insurance products after Mr Lau left his previous role as Senior District Director with AIA. The judge finds that Mr Lau must pay back HK$17.3m in advances.
Ex-HSBC relationship manager and AXA broker charged with HK$500k bribery and fraud
ICAC, 10-Jun-2015
One simple point comes out of this: the brokerage fee AXA pays on a US$2m (HK$15.6m) savings plan is HK$1.24m, or about 8%. We wonder why anyone would buy such inefficient savings vehicles.
ICAC, 10-Jun-2015
One simple point comes out of this: the brokerage fee AXA pays on a US$2m (HK$15.6m) savings plan is HK$1.24m, or about 8%. We wonder why anyone would buy such inefficient savings vehicles.
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