November 2011 Issue No. 184
2011 Extraordinary General Meeting (EGM) & Christmas Cocktail Party
The EGM will be held at 5:30 pm on Thursday, 15 December 2011 in our conference room (please refer to Circular Ref: Mv 114/11 for details). This will be followed by the Christmas Cocktail Party. I look forward to seeing you all there.
Development of Renminbi Insurance Market On 14 November 2011, the Chairman of the Life Insurance Council Mr Thomas Lee, Chairman of the Task Force on RMB Life Insurance Products Mr Liu Tingan and I joined the delegation led by Professor K C Chan, Secretary for Financial Services and the Treasury, to Beijing. Our meetings with the China Insurance Regulatory Commission, Hong Kong and Macao Affairs Office of the State Council, People’s Bank of China and China Securities Regulatory Commission were very fruitful.
We discussed the challenges and opportunities with Mainland’s officials in developing Renminbi insurance business in Hong Kong and the possibility of allowing insurers in Hong Kong to invest in the Mainland interbank bond market. We will continue to work closely with the FSTB to achieve further progress on this front.
New Insurance Mediation Pilot Scheme (NIMPS)
The Wrap Up Ceremony of NIMPS was successfully held on 3 November 2011. About 100 guests and journalists attended the events. We are particular grateful to the presence of our officiating guests Secretary for Labour and Welfare the Honourable Matthew Cheung, His Honour Judge Johnson Lam and His Honour Judge Barnabas Fung.
The highlight of the event was the experience sharing by the mediator, representative of insurance company and the social worker involved in a number of successful mediation cases. Mediation promotes mutual understanding and foster goodwill. The successful completion of NIMPS lays a solid foundation for the healthy and sustainable development of mediation as effective way to resolve insurance related disputes. To further promote mediation among insurance practitioners, we are organizing a series of seminars. The first one was held on 24 November 2011. Two more seminars will be held on 2 December and 13 December 2011 (Circular Ref: Mv111/11). As for members of the public, they may contact the Joint Mediation Helpline Office at 2901 1224 directly for assistance if they need mediation services (website: www.jointmediationhelpline.org.hk).