Hong Kong will lay out insurance industry road map at summit on Monday, says treasury secretary Christopher Hui

Name: Hong Kong’s financial summit ends on an upbeat note as city heads ‘back to business’
Uploaded: 2022-12-02T10:30:08.000Z
Duration: 1 min 53 s
Description: Hong Kong’s financial summit ends on an upbeat note as city heads ‘back to business’

Government will use Asian Insurance Forum to set out its ‘visions, missions and policy measures to further enhance Hong Kong’s role as an international insurance and risk management hub’

Speakers will include Chief Executive John Lee as well as regulators, executives from major multinational insurance groups and Hui himself

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Secretary for Financial Services and the Treasury Christopher Hui Ching-yu. Photo: K. Y. Cheng

Martin Choi

Published: 6:30pm, 2 Dec 2022

The government will lay out a road map for the development of the insurance industry to bolster Hong Kong’s role as a global risk management centre at an industry conference on Monday, according to Christopher Hui Ching-yu, the Secretary for Financial Services and the Treasury.

The government will use the Asian Insurance Forum to set out its “visions, missions and policy measures to further enhance Hong Kong’s role as an international insurance and risk management hub,” Hui wrote in his blog on Friday.

“To align the regulatory framework in Hong Kong with international standards while ensuring financial stability, we plan to put in place a risk-based capital regime, which will make capital requirements more sensitive to the level of risk borne by insurance companies.”

The annual event, hosted by the Insurance Authority, the city’s regulator for the industry, will be held on Monday at the Hong Kong Convention and Exhibition Centre in Wan Chai.

Speakers will include the city’s Chief Executive John Lee Ka-chiu as well as representatives from the China Banking and Insurance Regulatory Commission, the International Association of Insurance Supervisors and major multinational insurance groups, according to a programme on the event’s website. Hui, who contracted Covid-19 last week, will also be speaking.

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Hong Kong’s financial summit ends on an upbeat note as city heads ‘back to business’

“While I am still under isolation, I am very much looking forward to exchanging views on the development road map and other issues with leaders and experts of the industry at the forum, and together charting the way forward,” said Hui.