Reappointment of Chief Executive Officer of Insurance Authority announced
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The appointment was approved by the Chief Executive under the Insurance Ordinance (Cap. 41) (the Ordinance).
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, welcomed the reappointment, adding that, "Mr Cheung has demonstrated remarkable performance in advancing Hong Kong's position as an international risk management centre and in strengthening the regulatory framework of the insurance sector. Under Mr Cheung's leadership, the IA has made considerable progress in implementing the risk-based capital regime and its review to support infrastructure investments in the Chinese Mainland and Hong Kong, strengthening the insurance-linked securities market and enhancing the competitiveness of Hong Kong's captive insurance business. I am confident that he will continue to lead the IA in enhancing prudential regulation, safeguarding policy holders' interests, and working closely with the industry to reinforce Hong Kong's competitiveness while exploring new opportunities in the Chinese Mainland and overseas markets."
Mr Cheung was first appointed as the CEO of the IA in August 2018. He is currently a member of the Executive Committee of the International Association of Insurance Supervisors and a member of the Asian Forum of Insurance Regulators.
The IA is an independent insurance 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.
Ends/Friday, August 14, 2026
Issued at HKT 16:00
Issued at HKT 16:00
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