Hong Kong insurance industry mourns death of senior figure

Deceased's son to take over chairmanship

Hong Kong insurance industry mourns death of senior figure

Insurance News

By Gabriel Olano

Members of Hong Kong’s government and financial sectors have expressed their condolences and tributes following the death of industry stalwart Robin Chan Yau-hing at age 90.

Thai-Chinese Chan was life honorary chairman of the Chinese General Chamber of Commerce and chairman of Asia Financial Holdings.

The board of Asian Financial Holdings expressed its gratitude for Chan's contributions to the company and extended their condolences to his family.

Succeeding the deceased as Asian Financial Holdings chair is his second son Bernard Charnwut Chan, who is also the group’s president and convener of Hong Kong’s Executive Council.

Chief Executive Carrie Lam also paid tribute to the departed business and political icon.

“Chan was an esteemed entrepreneur and philanthropist,” she said. "Over the years, he had been promoting the steady development of Hong Kong's insurance industry, commanding the respect of the business sector. Under his direction, his conglomerate had been dedicated to charitable causes by shouldering social responsibilities, as well as providing financial and other support to social organisations and social enterprises in Hong Kong.”

Born in 1932, Chan was the eldest son of Chin Sophonpanich, one of the founders of Bangkok Bank, one of the largest financial firms in Thailand. He was sent to Hong Kong in the 1950s amid political unrest in Thailand.

In 1959, Chan and his father founded Asia Insurance, which was listed on the Hong Kong Stock Exchange in 1972. Asia Insurance later merged with Hong Kong Commercial Bank to form Asia Financial Holdings, which offers life and general insurance, retirement and pension funds, and healthcare.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!