Hong Kong to reappoint insurance regulator as industry braces for tough period: sources

Insurance Authority CEO Clement Cheung will be reappointed on Friday to help industry navigate Beijing’s tax clampdown, sources said Hong Kong’s government is set to reappoint Clement Cheung Wan-ching as CEO of the Insurance Authority for another three-year term on Friday, according to two sources with knowledge of the matter. Cheung, who has led the insurance regulator since 2018, is due to complete his current three-year term on Friday. Life insurance sales in Hong Kong soared 51 per cent in the first quarter to another record high, with the industry writing HK$141.1 billion (US$18 billion) in new life policies in the three months under review, Insurance Authority data showed.

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