New Governing Committee & HKFI AGM
TheAnnual General Meeting (AGM) held on 28 April 2023 approved the formation of the new Governing Committee (GC) of the HKFI for 2023/2024 term as follows:
Deputy Chairman Chairman
Ms Orchis Li
Members
Mr P L Chan
Mr Alger Fung
Mr Eric Hui
Mr Clement Lam
Mr Edward Moncreiffe
Mr Ellick Tsui
Ms Sally Wan
Ms Winnie Wong
Recommendations from HKFI’s Think Tank
TheThink Tank on Reinventing Hong Kong’s International Insurance Hub (Think Tank) presented a proposal to the HKSAR Government in early April. Nine recommendations are made under three dedicated focuses on promoting the strategic role of the Hong Kong insurance sector, enhancing its overall capacity to support the execution of national strategy and building more sustainable talent pools for the insurance industry in Hong Kong.
Think Tank Chairman Mr Edward Moncreiffe, HKFI Chairman Ms Winnie Wong and Chief Executive Ms Selina Lau met the press in mid-April to highlight the key research findings and the strategic proposals. As a further step, we will engage the relevant government officials and stakeholders to put into action our pragmatic recommendations. For an overview of the recommendations, please refer to our media release published on 14 April 2023.
Tripartite Meeting on Green Insurance
Atthe tripartite meeting on green insurance between HKFI, Insurance Authority (IA) and appointed project consultant on 12 April 2023, we had a fruitful dialogue on the latest industry developments and the major updates of HKFI’s consultancy study on the subject. Inter alia, we covered climate readiness, climate disclosures and climate data from the insurance’s perspective and discussed ways to facilitate industry’s adaptation to the new developments. Going forward, we will communicate with the Member Companies on the findings of the consultancy study and we look forward to your support on our recommendations.
Briefing on Web3 Industry Updates
Furtherto the Federated Learning hands-on workshops held in Q4 last year, the InsurTech Task Forces introduced two briefing sessions on Web3 market updates for members on 13 and 20 April. Dr Johnny Ng, Legislative Councillor and Member of the National Committee of the Chinese People’s Political Consultative Conference, and other guest speakers shared the latest knowledge on Web3 and digital economy.
HKFI Elite Talent Development Programme
Theabove Programme was launched by the HKFI with an aim of passing down the business wisdom and profound experience of insurance veterans to the younger generation. To our delight, the third cohort of the Programme is well received by our Members!
Thanks to the enthusiastic support from our Members and veteran practitioners, 25 pairs of mentor-mentee have been matched for the third cohort. In the next 12 months, mentees will make good use of this opportunity to learn and gain substantial insights from their seasoned mentors through the Programme. More details are available at the official website
New CPD Training Module on Premium Financing & E-learning Promotion
TheSupervisory Standards and Requirements Related to Premium Financing issued by the IA has become effective since 1 January 2023. HKFI has launched a 1-hour online CPD training module on “Ethics or Regulations” (EOR) this month to facilitate the intermediaries in complying the relevant rules and regulations when conducting business related to premium financing. Please visit https://event.hkfi.org.hk for details and enrollment. Meanwhile, new promotion for HKFI CPD online training courses is now available. Act now to upgrade yourself and acquire 3.5 CPD hours on EOR with 50 % off enrollment fees before 31 July 2023!
AGMs of Four TAs
TheFour Technical Associations (TAs), including Accident, Fire, Marine and Medical Insurance Association, held their AGMs on 19 April 2023 to receive the Committees’ Reports for the expiring term and note the Committee Delegates for the new term 2023/2024. Sincere thanks went to all Members’ support to the Committees throughout the year. We look forward to the same to be rendered for the next year’s Committees.
Annual Reception 2023
On 24 April 2023, the above event was successfully held at the Hong Kong Club again. Close to 180 friends of our industry and representatives of Member Companies joined us at this traditional industry event. We deeply appreciated the presence of our Guest-of-Honor Mr Stephen Yiu, Chairman of IA, and his address at the ceremony expressing the regulator’s support to the HKFI Think Tank’s proposal, which also echoed with the remarks made by the HKFI Chairman Ms Winnie Wong. Photos of the event are available at: https://www.hkfi.org.hk/#!/media-corner/album/510.
Acknowledgement
Today is the last day I serve the HKFI as Chairman. For their great support over the past 12 months, I would like to thank my fellow Members on the GC, the General and Life Insurance Councils, Task Forces, Technical Associations, Working Groups, the secretariat staff and friends of our industry. Your support and guidance have been crucial in facilitating the growth of the HKFI. Your dedication has propelled the accomplishment of our various projects and initiatives over the past year. My sincere thanks to you and look forward to your staunch support!
Winnie Wong HKFI Chairman
2023/2024 General Insurance Council
May we offer our best wishes to the newly-formed General Insurance Council:
Elected Councillors
Ms Sally Wan (Chairman)
AXA General Insurance Hong Kong Limited
Mr Eric Hui (Deputy Chairman) Zurich Insurance Company Ltd
Mr P L Chan China Taiping Insurance (Hong Kong) Company Limited
Mr Yuman Chan Bupa (Asia) Limited
Mr Zhaonan Chen
Mr Kelvin Cheung
Ms Karen Lee
CMB Wing Lung Insurance Company Limited
China Ping An Insurance (Hong Kong) Company Limited
Liberty International Insurance Limited
Mr Sheung-kin Li Sompo Insurance (Hong Kong) Co Ltd
Ms Kelly Mok
Prudential General Insurance Hong Kong Limited
Mr Ivan Tam Chevalier Insurance Company Limited
Mr Andy Tsui Allied World Assurance Company Limited
Ms Winnie Wong Asia Insurance Company Limited
Ms Peggy Ng (Ex-officio)
Accident Insurance Association Chairman
Mr Clement Hau (Ex-officio) Fire Insurance Association Chairman
Mr Patrick Wong (Ex-officio)
Ms Emily Li (Ex-officio)
Marine Insurance Association Chairman
Medical Insurance Association Chairman
Ms Polly Ho (Ex-officio) Reinsurers' Forum Convenor
Technical Associations
The various Technical Associations have also elected their respective Deputy Chairmen / Deputy Convenor as follows:
Accident Insurance Association
Fire Insurance Association
Marine Insurance Association
Medical Insurance Association
Reinsurers' Forum
Mr Cody Hui
Mr Arthur Ho
Mr Timothy Lee
Ms Cally Wong
Ms Ruby Cheung
2023/2024 Life Insurance Council
Also, we would like to extend our best wishes to the following members of the newly-formed Life Insurance Council:
Elected Councillors
Mr Alger Fung (Chairman)
AIA International Limited
Mr Clement Lam (Deputy Chairman) Sun Life Hong Kong Limited
Mr Geoffrey Au Zurich Life Insurance (Hong Kong) Limited
Mr Alfred Cheung BOC Group Life Assurance Company Limited
Mr Patrick Graham Manulife (International) Limited
Mr Lawrence Lam
Mr Simon Lam
Prudential Hong Kong Limited
China Pacific Life Insurance (H.K.) Company Limited
Ms Orchis Li General Reinsurance AG
Mr Edward Moncreiffe
Ms Sally Wan
Mr Jacob Wong
HSBC Life (International) Limited
AXA China Region Insurance Company (Bermuda) Limited
China Taiping Life Insurance (Hong Kong) Company Limited
Mr Ellick Tsui (Ex-officio) Immediate Past Chairman
As at 28 Apr 2023, the HKFI has 81 General Insurance Members and 54 Life Insurance Members.