The CEO of Hong Kong Insurance Authority, Mr Clement Cheung, has been re-elected as chairman of the Asian Forum of Insurance Regulators. Mr Cheung’s second term is for two years until 2022.
The 15th Annual Meeting of the Asian Forum of Insurance Regulators (AFIR) took place via videoconference on 14 July 2020 and was attended by 17 member jurisdictions as well as representatives of the International Association of Insurance Supervisors and the Organisation for Economic Co-operation and Development.
Apart from the re-election of Mr Cheung, seven member jurisdictions shared experience in coping with the COVID-19 pandemic during the proceedings.
Mr Cheung said, “It is my great honour and privilege to be re-elected to serve for another term of office. Apart from posing a major challenge to insurers and the global investment market, the COVID-19 pandemic also demonstrated clearly the imperative to step up our efforts in strengthening mutual support and reinforcement.”
Established since 2006, AFIR is a multilateral platform designed to facilitate information exchange, knowledge dissemination and capacity building among insurance regulators in the Asia and Pacific region.
Member jurisdictions which attended the meeting are Afghanistan, Astana International Financial Centre, Australia, China, Chinese Taipei, Dubai International Financial Centre, Hong Kong, India, Japan, Korea, Macao, Malaysia, Maldives, Nepal, Singapore, Sri Lanka and Thailand.