May 2024 Issue No.322
Greetings from HKFI Chairman
I
am honoured to be appointed the HKFI Chairman for the 2024/2025 term. In the next 12 months, our utmost dedication will remain on fostering the growth of our industry, safeguarding the interests of our Members, and contributing to the welfare of the community at large. In this regard, I look forward to your invaluable guidance and unwavering support. Let us join forces to pave the way for a promising future and a sustainable market for our insurance industry.
Ivan Tam HKFI Chairman
Meeting with Chief Executive’s Policy Unit
Joint Briefing on the Safeguarding National Security Ordinance
he HKFI Think Tank released a report in April 2023 outlining nine key recommendations to revitalize Hong Kong’s status as international insurance and risk management hub. Since then, we have been actively engaging with government officials and relevant stakeholders to communicate our position and advocate for the implementation of these recommendations.
ollowing the consultation of “Safeguarding National Security: Basic Law Article 23 Legislation” conducted by the Security Bureau in January 2024, the Safeguarding National Security Ordinance (Ordinance) was passed by the Legislative Council and has taken effect upon gazettal on 23 March 2024.
T
On 8 May 2024, we were engaged in a collaborative dialogue with the Head and Deputy Head of the Chief Executive’s Policy Unit. The meeting served as a follow-up to our initial meeting on the Think Tank proposals in August 2023. Together, we delved into strategies to enhance the capacity of Hong Kong's insurance sector, exploring topics of common interests such as Contractor's All Risks (CAR) insurance of infrastructure projects, captive insurance, marine insurance, talent development, etc.
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To foster a comprehensive understanding of the Ordinance and empower our industry to effectively articulate the advantages of the new legislation to international counterparts, Legislative Council Members Hon KP Chan and Hon PL Chan together with the HKFI had jointly organized a briefing session on 31 May 2024 with Convenor of Non-Official Members of Executive Council Hon Mrs Regina Ip addressing the session. Through her in-depth elaborations and the use of vivid case examples, the participants gained a deeper understanding of the Ordinance.