Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 306

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 306
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 Hong Kong. The IA is an independent statutory body that administers the Insurance Ordinance (IO), which provides the legal framework for regulation insurers and insurance intermediaries. The IA’s main function is to regulate and supervise the insurance industry to protect policyholders and promote the insurance industry’s stability.

As our industry is so highly regulated, our broker contracts are standard with all of our insurer partners. All of our broker contracts have customary confidentiality and indemnity provisions that are governed by the laws of Hong Kong. Either party may terminate the agreement at any time by giving the other thirty (30) days written notice of such intention. Additionally, commission rates are initially discussed at the time of the negotiation of the contract. There is traditionally not much renegotiation on such rates unless there are significant fluctuations in the market place. Since February 2020, when our founder acquired HCYC, we have had little to no renegotiation of commission rates.

Distribution Channels

We aim to widen our touch points with customers by offering them a choice of how to engage with us based on their protection needs and interaction preferences. We source our customers via corporate referrers and walk-ins. We do not recruit any sales personnel to source customers.

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We utilize six (6) corporate referrers that provide introductions to potential customers. We verify all of our corporate referrers are compliant with prevailing laws and regulations under the applicable regulatory requirements and undertakings imposed the Insurance Authority before we engage them. We engage in referrer agreements with each referrer and pay a referral fee to each such referrer if a customer that is introduced by them purchases a product from one of the agencies we partner with. We do not pay our referrers any form of commission based compensation.

We have endeavored to build a productive agency force with a focus on quality. We engage with referrers that have advanced technological tools and share our vision and values. We believe this has enabled us to acquire customers in an efficient manner. We regularly review our arrangements with referrers through market intelligence and benchmarking against peer companies in the relevant market to ensure compliance with Hong Kong laws and regulations.

We have a cooperation agreements with all of our referrers. All of our agreements have the exact same terms and provisions, with the one distinction being the range of commission generated by us, which is between 80% - 85%. Our referrer agreements have a term of twelve (12) months, which automatically extend at the end of each term if neither party terminates. Either party