Insurance Authority hosts housewarming reception in its new office
8 February 2018
The Insurance Authority (IA) today (8 February 2018) celebrated its new office in Wong Chuk Hang with a housewarming reception attended by over 130 guests from the Government, regulatory sector, insurance industry and related professional bodies. The event was graced with the presence of Mrs Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), and Mr Paul Chan, Financial Secretary.
Other Guests of Honour included Ms Qiu Hong, Deputy Director of the Liaison Office of the Central People's Government in the HKSAR, Mr Bernard Chan, Convenor of the Executive Council’s Non-official Members, Mr James Lau, Secretary for Financial Services and the Treasury and the Most Reverend Dr Paul Kwong, Archbishop of Hong Kong.
“The IA is committed to bring about an efficient, effective and modernised insurance regulatory regime for Hong Kong, and facilitate the sustainable development and enhance the competitiveness of the industry in the global insurance market,” said Dr Moses Cheng, Chairman of the IA, in his opening remarks. “We are determined to be a firm regulator working closely with the insurance industry. Ahead of us are tremendous opportunities. With the staunch support of the Government and the industry, the IA will endeavor to strengthen Hong Kong’s role as a centre for risk management for the Mainland and the Belt and Road Initiative, and as a regional insurance hub facilitating local, Mainland and foreign insurance groups to go regional and global.”
Speaking at the reception, Mrs Carrie Lam said, “Hong Kong must continue to enhance its competitiveness in order to seize the opportunities ahead, including those arising from the Belt and Road Initiative. We welcome proposals from the insurance sector and the IA on how we can develop and promote Hong Kong’s insurance industry in order to stay competitive in the global market.”
The IA relocated to its long-term office in Wong Chuk Hang in December 2017. To take up its additional regulatory responsibilities and prepare for the launch of a direct licensing regime for insurance intermediaries by mid-2019, the IA will gradually increase its workforce from the current over 180 to around 300 within a year. The new office space is equipped with modern facilities and is designed to cater for the IA’s future expansion. Before the relocation, the IA operated from four different offices in Admiralty and Wan Chai.
Ends
Mrs Carrie Lam, Chief Executive of the HKSAR, delivers a speech at the IA’s housewarming reception.
Dr Moses Cheng, Chairman of the IA, gives welcome remarks to the guests at the housewarming reception.
(From left) The Most Reverend Dr Paul Kwong, Archbishop of Hong Kong, Mr James Lau, Secretary for Financial Services and the Treasury, Mr Bernard Chan, Convenor of the Executive Council’s Non-official Members, Mrs Carrie Lam, Chief Executive of the HKSAR, Dr Moses Cheng, Chairman of the IA, Ms Qiu Hong, Deputy Director of the Liaison Office of the Central People's Government in the HKSAR, Mr Paul Chan, Financial Secretary, and Mr John Leung, Chief Executive Officer of the IA.
Officiating guests join the IA Non-Executive Members and its senior management team in drinking a toast.