The International Union of Marine Insurance (IUMI) and the Hong Kong Maritime Port Development Board (HKMPDB) formalised a partnership on Nov. 18, establishing a framework for marine insurance education and professional development across Asia. The memorandum outlines coordinated efforts to build workforce capacity in a sector experiencing expanded demand for qualified professionals.
The Hong Kong Federation of Insurers (HKFI) will manage execution of the agreement, drawing on its established role as IUMI’s regional representation for Asia. The partnership identifies three primary operational objectives:
The HKMPDB and IUMI will direct training materials and instructional content to Hong Kong’s insurance market. The IUMI has created educational modules addressing cargo and hull insurance that will be made available to local practitioners. This distribution mechanism aims to standardise professional knowledge across the region while providing accessible learning opportunities for insurance professionals at various career stages.
Read next: Cargo marine insurance holds steady - IUMI
Selina Lau, chief executive of the Hong Kong Federation of Insurers, outlined the partnership’s scope. “The HKFI is pleased to facilitate the collaboration between these two esteemed organisations to enhance education and talent development in the continuously evolving marine insurance sector in Hong Kong. With the strong backing of the HKMPDB, the Hong Kong marine insurance sector will leverage IUMI’s extensive capacity-building resources developed over the years, effectively enabling broader marine insurance education,” Lau said.
Official engagement between Hong Kong government representatives and IUMI leadership occurred on the agreement signing date. Mable Chan, secretary for transport and logistics, conducted meetings with IUMI president Frédéric Denèfle and secretary general Lars Lange. Dr. Moses Cheng, HKMPDB chairman, and Selina Lau also participated in these discussions.
Chan articulated government priorities regarding maritime sector engagement. “The HKSAR government attaches great importance to maintaining close ties with the global maritime industry and actively participates in meetings and exchange activities of the IUMI to keep abreast of the latest developments in the global shipping and marine insurance fields,” she said.
The IUMI established its first Asian operational presence in Hong Kong in 2016, positioning the jurisdiction as a centre for regional marine insurance coordination and professional standards development.
The Maritime Services Traineeship Scheme for Marine Insurance has been launched as a related initiative, providing employment and professional experience opportunities. Operating through the Maritime and Aviation Training Fund, the program connects insurance companies with individuals pursuing careers in marine insurance.
Chan highlighted structural factors relevant to Hong Kong’s maritime services sector, including its legal framework, economic policies, and tax regime. The territory hosts operational representation from 11 of 12 member associations of the International Group of Protection and Indemnity Clubs, reflecting sector activity within the local economy.
The HKMPDB-IUMI partnership integrates professional development with infrastructure factors to position Hong Kong in the global maritime centre context.
