The Government announced today (May 29) the appointments to two industry advisory committees (IACs) to advise the Insurance Authority (IA) on industry-related issues. 
 
     The two IACs focus on long-term business and general business respectively. The Financial Secretary has re-appointed or appointed 11 non-official members to the IAC on Long Term Business and 10 non-official members to the IAC on General Business for a term of two years from June 1, 2020, to May 31, 2022.
 
     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "Members of the two IACs have expertise in different lines of insurance business and some come from related fields such as accounting, insurance law, academia, banking, management and medical. Their wealth of experience and diverse backgrounds will provide the IA with valuable advice on various matters pertaining to the development of the insurance industry."
 
     Mr Hui added, "I would also like to express my sincere gratitude to the eight outgoing members for their contribution to the IACs during their term."
 
     The IACs are statutory committees established under the Insurance Ordinance (Cap. 41) on June 1, 2016. The Ordinance stipulates that other than the chairperson, the chief executive officer and not more than two other executive directors of the IA, members of an IAC should include not less than eight but not more than 12 other persons with knowledge of or experience in the insurance industry, the conduct of regulated activities and consumer affairs. They are appointed by the Financial Secretary after consultation with the IA.
 
     The IA is an independent regulator established under the Ordinance in December 2015. It took over the responsibility of supervising insurance companies from the former Office of the Commissioner of Insurance in June 2017 and assumed direct regulation of insurance intermediaries in September 2019.

     Following is the list of non-official members of the IACs with effect from June 1, 2020:
 
Non-official Members of the IAC on Long Term Business
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Mr Chan Yim-kwong
Mrs Estella Chiu Sheun-fun
Mr Gilbert Ho Chi-hang
Mr Garth Brian Jones
Mr Mike Lee Siu-chuen
Ms Orchis Li Tzy-lan
Mr Jeremy Robert Porter
Mr Martin Tam Chi-wai
Mr Wilson Tang Chee-ping
Mr Harold Wong Tsu-hing
Mr Jonathan Zhao Xiaojing
 
Non-official Members of the IAC on General Business
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Dr Kevin Lau Chung-hang
Ms Angela Leung Wai-tuen
Mr Andrew Mak Kin-ting
Ms Rebecca Poon Chui-ngor
Mr Jimmy Poon Wing-fai
Ms Penny Randall Seach
Ms Sally Wan Yuen-wai
Mr Peter Anthony Whalley
Mr Harry Wong Kwok-tim
Professor Jason Yeh Jia-hsing

Ends/Friday, May 29, 2020
Issued at HKT 15:00

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