17 December 2021
The Insurance Authority (IA) today (17 December 2021) welcomes the appointment of Mr Stephen Yiu Kin-wah to succeed Dr Moses Cheng Mo-chi, who will retire as the Chairman of the IA after six years of distinguished service since its establishment. The appointment of Mr Yiu will be for a term of three years with effect from 28 December 2021.
Dr Cheng said, “Mr Yiu has been serving as a board member of the IA and engaging actively in major projects and activities pursued by the IA since its inception in 2015. I am confident that he is well-positioned to assume the role as the IA Chairman. The past six years were exciting and memorable, giving me the opportunity to witness the birth of the IA, and the smooth transition of the former Office of the Commissioner of Insurance as a government department to the IA as the independent regulator of the insurance industry. I have treasured the experience of working closely with my colleagues in the IA and the insurance industry. Every moment of this journey will be cherished as a fond memory, and I am extremely grateful to my fellow Non-Executive Directors (NEDs), as well as the dedicated team of colleagues in the IA.”
Mr Yiu said, “I am honoured by this appointment, which carries enormous responsibilities and high expectations. Dr Cheng has built a solid foundation, which should enable me to partner with stakeholders to maintain market stability and protect policy holders, while spurring the sustainable development of the local insurance industry.”
Mr Clement Cheung, Chief Executive Officer of the IA, said, “My sincere gratitude goes to Dr Cheng and the outgoing NEDs for their vision, passion and leadership, which were instrumental in establishing the IA and in shaping its corporate strategy. I will follow in their footsteps and work closely with Mr Yiu to reinforce the status of Hong Kong as an asset management centre and a global risk management centre, as envisaged in the 14th Five-Year Plan.”
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