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  • HC-5.4 HC-5.4 Standard for all Remuneration

    • HC-5.4.1

      Remuneration (including incentives, bonuses and other rewards) of approved persons must be sufficient enough to attract, retain and motivate persons of the quality needed to run the insurance licensee successfully, but the insurance licensee must avoid paying more than is necessary for that purpose.

      January 2011

    • HC-5.4.2

      Where remuneration is structured so as to link rewards to corporate and individual performance, criteria should avoid excessive focus on short-term profitability measures.

      January 2011

    • Alignment of All Staff Remuneration with Compliance with AML/CFT Requirements

      • HC-5.4.3

        The performance evaluation and remuneration of senior management and staff of the insurance licensee must be based on the achievement of the Key Performance Indicators (KPIs) relevant to ensuring compliance with AML/CFT requirements as specified in Paragraphs FC-2.1.4 and FC-2.1.5.

        Added: April 2020