IA names new executive director

He was appointed for a three-year term ending in 2027

IA names new executive director

Insurance News

By Kenneth Araullo

The Insurance Authority (IA) of Hong Kong has announced the appointment of Clement Lau as the new executive director, policy and legislation.

This appointment, effective from Jan. 23, is for a three-year term ending in January 2027. In his new position, he will have a wide array of responsibilities, including coordinating the corporate planning exercise, reviewing, and refining legislative frameworks and regulatory instruments, and engaging with industry stakeholders to align with their aspirations.

Furthermore, he will lead efforts in research and public education, and formulate policies and initiatives aimed at promoting Hong Kong as a leading insurance hub.

Alongside this appointment, the IA is also conducting a separate recruitment process for two other key positions: the executive directors in charge of long term business and general business. This process is reportedly progressing well, with an announcement regarding the outcome expected soon. The new appointments are part of the IA's ongoing efforts to strengthen its leadership team and enhance its role in the insurance industry.

“Armed with an impressive track period in public administration and financial supervision, Lau is an ideal candidate to take up this senior position and contribute towards fulfilling our statutory functions. I firmly believe that his arrival will add vitality and strength to the management team in the IA,” IA chairman Stephen Yiu said.

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