Hong Kong renames Clement Cheung as Insurance Authority chief

He played a role in boosting the global competitiveness of the sector.

The Hong Kong government has reappointed Clement Cheung as chief executive officer for the city’s Insurance Authority, according to an announcement.

“It is my pride and honour to be given an opportunity to serve the community alongside Dr Cheng and members of the IA Board for another tenure of three years,” Cheung said.

Cheung played an important role in planning a strategy to boost the global competitiveness of Hong Kong’s insurance sector whilst bolstering protection for policy holders, IA chairman Moses Cheng said.

“We have made many notable achievements such as launching of the Qualifying Deferred Annuity Policy, enactment of legislative changes to reinforce the status of Hong Kong as an insurance hub, rolling out of a direct regulatory regime for insurance intermediaries and granting of authorization to four virtual insurers,” Cheung added.