Integrity Focus
Recent ICAC Cases
Dec 2024Then employee of insurer charged by ICAC for soliciting bribe from broker firm director over motor insurance of 600 new taxis
A then employee of an insurance company was charged by the ICAC yesterday (December 4) for allegedly soliciting a bribe from a director of a broker firm for assisting a client to take out motor insurance policies for 600 new taxis, involving premiums totalling over $24 million. The solicitation was rejected.
Wong Ka-wing, 39, then team head of Bank of China Group Insurance Company Limited (BOCGI), faces one count of agent soliciting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts tomorrow (December 6) for mention.
At the material time, the defendant was the team head of the brokers and agency business marketing department of BOCGI, which was responsible for liaising with broker firms, including Pro Insurance & Financial Management Limited (Pro Insurance), for selling insurance products such as motor insurance.
Pro Insurance would arrange its clients to take out motor insurance policies from BOCGI for new taxis, and receive 5 per cent of the yearly premium of each policy from BOCGI as commission.
In mid-2022, a client of Pro Insurance planned to take out vehicle insurance policies for over 600 new taxis. During the negotiation with BOCGI, a director of Pro Insurance proposed to lower the annual premium per vehicle from $45,500 to $40,000, or to increase the commission payable to Pro Insurance to 7.5 per cent.
It is alleged that between November 2022 and January 2023, the defendant solicited a bribe from the director of Pro Insurance for assisting Pro Insurance to secure BOCGI approval of the insurance policy agreement. The bribe solicited ranged from 1 to 3 per cent of the total yearly insurance premiums of the agreement.
The director of Pro Insurance did not accede to the defendant’s solicitation. Should the defendant’s bribery scheme have materialised, the total yearly premiums for over 600 new taxis, each paying $40,000 per year, would amount to over $24 million. Meanwhile, the bribe concerned would amount to over $240,000.
BOCGI rendered full assistance to the ICAC during its investigation into the case.