「Empowering Global Insurance Elites to Achieve an Outstanding Career Future」
LOMA Introduction
FLMI (Fellow, Life Management Institute)
Curriculum System and Subject Structure
FLMI 10 Subjects
| Course: | Subject: |
|---|---|
| Level 1 Certificate Level 1 Certificate |
LOMA 280 Principles of Insurance |
| LOMA 290 Operations of Insurance Companies | |
| Associate, Life Management Institute Associate, Life Management Institute |
LOMA 301 Insurance Administrative Business Management |
| LOMA 307 Business and Financial Concepts for Insurance Professionals | |
| LOMA 320 Insurance Marketing | |
| Fellow, Life Management Institute Fellow, Life Management Institute |
LOMA 335 Operational Excellence for Insurance Professionals |
| LOMA 357 Institutional Investing: Principles and Practices | |
| LOMA 361 Accounting and Financial Reporting in Life Insurance Companies | |
| LOMA 311 Business Law for Insurance Professionals | |
| LOMA 371 Risk Management and Product Development for Life Insurance Companies |
Basic Certificate
ALMI (Associate, Life Management Institute)
FLMI (Fellow, Life Management Institute)
(LOMA's examination and assessment policies may change from time to time. Please refer to the latest announcements from LOMA for accurate information.)
Recognition and Accreditation in Hong Kong
Insurance Entry Education Background Substitution
Policy Basis: Hong Kong Insurance Authority Circular INS/05/2022
- Applicable to: Individual license applicants
- Substitution Range: 5 subjects at grade E in HKCEE (including Chinese/English + Mathematics), 5 subjects at level 2 in DSE (including Chinese/English + Mathematics)
Verification Method: Submit FLMI electronic certificate number to licensing@ia.org.hk
⚠️ Note: Only applicable for insurance intermediary license applications, not a substitute for a university degree
Insurance IIQE Exam Exemption
- Exempted Subjects:
- Paper 1: Principles and Practices of Insurance (covered by LOMA 280)
- Paper 2: General Insurance (covered by LOMA 290)
- Paper 3: Long Term Insurance (covered by LOMA 301)
Document Basis: Section 12 of the "Insurance Intermediaries Quality Assurance Scheme Handbook"
New Policy Note: From September 2022, only results proctored via I*STAR are recognized
90% of Insurance Companies in Hong Kong Recognize the Qualification
Most insurance companies in Hong Kong allow employees to print the FLMI qualification on business cards to enhance customer confidence in their professional expertise.
(For details, please consult the relevant department of your insurance company)
International Claims Association Course Recognition
Equivalent to completing the introductory courses of the International Claims Association's Associate Life and Health Claims professional, and recognized by the Australian and New Zealand Institute of Insurance and Finance as a Senior Associate CIP (Certified Insurance Professional)
LOMA-Recognized Proctoring Venue Institutions
Career Development and Industry Salaries
Data on the Enhanced Career Competitiveness of FLMI Credential Holders in the Insurance and Financial Industry
Refer to PayScale's Salary Trends Survey Report
Frequently Asked Questions
You can contact via WhatsApp: 68082882, or send an email to info@gcwemedia.org for more details,
You can also visit the 5th floor of Qidi Center, 118 Wai Yip Street, Kwun Tong (Exit B6, Ngau Tau Kok MTR Station) for in-person inquiries (please make an appointment first).
Available appointment times are as follows:
Monday to Friday 11:00-18:00 (excluding public holidays)
❗Appointments need to be scheduled at least two working days in advance❗
According to the "Insurance Ordinance", licensed insurance intermediaries must be fit and proper persons. The requirements, including minimum academic or professional qualifications, are specified in the "Guideline on Fit and Proper Criteria for Licensed Insurance Intermediaries" ("Guideline 23").
According to Guideline 23, applicants for individual licensed insurance intermediaries (i.e., licensed individual insurance agents, licensed technical representatives (agents), or licensed technical representatives (brokers)) must obtain one of the following academic or professional qualifications:
Hong Kong Diploma of Secondary Education Examination ("DSE") - Level 2 or above in five subjects, including Chinese/English and Mathematics
Hong Kong Certificate of Education Examination ("HKCEE") - Grade E or above in five subjects, including Chinese/English and Mathematics
International Baccalaureate Yi Jin Diploma - Applicants should have completed the Extended Mathematics elective
Diploma awarded by a Hong Kong recognized higher education institution that is deemed acceptable by the Insurance Authority
Diploma registered or exempted under the "Non-local Higher and Professional Education (Regulation) Ordinance" (Cap. 493), and the diploma, subject, and institution are deemed acceptable by the Insurance Authority
Designated insurance qualifications published on the Insurance Authority's website. Generally, the Insurance Authority also accepts other qualifications equivalent to or higher than the above qualifications (details can be found in paragraph 5 of Guideline 23).
The Insurance Authority may require applicants to submit supplementary documents, such as transcripts, attendance records, course materials, assessment reports issued by the Hong Kong Council for Accreditation of Academic and Vocational Qualifications, or other public examination results, to determine whether the applicant meets the fit and proper criteria.
If applicants have any doubts about whether their academic proof or qualifications meet the minimum educational requirements, they should first consult their appointing principal.
To obtain the Fellow, Life Management Institute ("FLMI") qualification awarded by the Life Office Management Association ("LOMA"), applicants can choose to take proctored exams or self-administered courses/exams. To meet the educational requirements stated in paragraph 5.2 of Guideline 23, the Insurance Authority will only accept FLMI qualifications obtained through proctored exams from September 1, 2022. Applicants applying for a new insurance intermediary license must provide (i) the FLMI certificate and (ii) the enrollment and result records of the courses and exam types taken by the applicant (if the FLMI certificate is issued on or after September 1, 2022). As a transitional arrangement, if an applicant's self-administered course/exam has commenced but not completed before September 1, 2022, the Insurance Authority will consider accepting the course/exam for licensing purposes on a discretionary basis. To avoid doubt, the above requirement regarding FLMI qualifications also applies to the exemption of qualification exams for insurance intermediaries as stated in Annex 1, Item 5 of Guideline 23. In other words, if an applicant wishes to use the FLMI qualification to exempt the requirement for obtaining IIQE on or after September 1, 2022, they must demonstrate to the Insurance Authority that the relevant FLMI qualification was obtained through a proctored exam.
After completing ten exams, students can immediately obtain an electronic certificate on the LOMA website, while a physical certificate will be issued by LOMA in the USA regularly in March, June, September, and December.
In the "Guideline on Fit and Proper Criteria for Licensed Insurance Intermediaries" (Cap. 41), Annex 1, Item 5 - Exemption from Qualification Exams - (a)(i) states that the Fellow, Life Management Institute (FLMI) qualification from the Life Office Management Association (LOMA) in the USA can exempt passing Papers 1, 2, 3, & 6.
For more details, please refer to here.