Clement Cheung, previously Commissioner of Insurance from 2006-2009, was appointed chief executive of Hong Kong’s Insurance Authority on Friday (27 June).
The IA is a new insurance regulator independent of the Government. It assumed the statutory functions on the regulation of insurance companies on 26 June 2017.
Announcing the appointment, the financial secretary, Paul Chan, said, “Mr Cheung has extensive experience in public administration. Given his direct regulatory experience and close working relationship with the industry while being the Commissioner of Insurance from 2006 to 2009, we are confident that Mr Cheung would discharge the role and functions as chief executive competently in ensuring the smooth commencement of the statutory licensing regime for insurance intermediaries and the sustainable development of the industry.”
Mr Cheung will serve as chief executive for a two-year period from 15 August 2018 to 14 August 2020. He joined the Government in 1983 and served in various bureaux and departments. He was Director of the Hong Kong Economic and Trade Office in Singapore from August 1998, Deputy Secretary for Works (later renamed Deputy Secretary for the Environment, Transport and Works (Works)) from October 2001, Commissioner of Insurance from July 2006, Postmaster General from September 2009, and Commissioner of Customs and Excise from September 2011. His last role held was Secretary for the Civil Service from 2015 to 2017.
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