The Insurance Authority (IA) of Hong Kong has named Clement Lau as its new Executive Director for Policy and Legislation, effective January 23. Lau’s appointment spans a three-year term, concluding in January 2027. In this pivotal role, Lau will shoulder a range of responsibilities, including overseeing corporate planning, reviewing and enhancing legislative frameworks, engaging with industry stakeholders to align with their objectives, leading research and public education efforts, and crafting policies and initiatives to position Hong Kong as a premier insurance hub.
The IA concurrently undertakes a separate recruitment process for two crucial positions: Executive Directors for long-term business and general business. Progress on this front is reportedly on track, with an official announcement anticipated shortly. These appointments form part of the IA’s ongoing endeavors to fortify its leadership team and augment its influence in the insurance sector.
IA Chairman, Stephen Yiu, expressed confidence in Lau’s capabilities, stating, “Armed with an impressive track record 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.”
In parallel developments, the regulator has initiated a public consultation, concentrating on four draft rules integral to implementing the new capital regime within the insurance sector. This strategic move underscores the IA’s commitment to ensuring robust governance and adherence to evolving regulatory frameworks in the industry.
