Hong Kong’s Insurance Authority (IA) and the Hong Kong Police Force (HKPF) have taken a significant step forward in their collaboration, marked by the signing of a memorandum of understanding (MoU).
The MoU outlines a comprehensive framework for cooperation, emphasizing the referral of cases, joint investigations, mutual assistance in investigative endeavors, and the exchange of crucial information.
Speaking at the event, Peter Gregoire, Head of Market Conduct and General Counsel at the IA, underscored the importance of this partnership in upholding integrity and trust within the insurance sector. He emphasized that such integrity is indispensable for maintaining Hong Kong’s status as a leading global financial hub.
Assistant Commissioner of Police (Crime) Chung Wing-man highlighted the broader benefits of this alliance, suggesting that it would strengthen the regulatory framework, ultimately enhancing community protection.
The MoU was formally signed by Maria Tsui, Head of Enforcement at the IA, and Yau Kin-hung, Chief Superintendent of the Police Commercial Crime Bureau. The ceremony, witnessed by Gregoire and Chung, signifies the support and significance attached to this collaborative endeavor.
This strategic partnership follows the recent release of preliminary data by the IA regarding Hong Kong’s insurance market in 2023.
