The Hong Kong Insurance Authority (IA) has confirmed several changes to its leadership team, including new appointments and reappointments of non-executive directors (NEDs).
Announced on Dec. 20, 2024, these updates aim to maintain continuity while bringing fresh perspectives to the organization’s governance.
Stephen Yiu has been reappointed as the IA’s chairman for a three-year term. Joining as new NEDs are Professor Darwin Choi, Andrew Fung, and Dr Fung Hong – also for three-year terms.
The IA extended three-year terms to Ivy Cheung, Lam Wai-kong, Terry Lo, Dr Derrick Pang, Anson Wong, SC, and Kenneth Wong.
Additionally, Dr Clement Chen, Agnes Choi, and Theresa Ng have been reappointed for two more years, with all changes taking effect on Dec. 28, 2024.
Commenting on the appointments, Yiu said the new NEDs have valuable experience in their respective professional fields, bringing in fresh ideas and enriched perspectives. Meanwhile, the reappointed NEDs will provide much-needed continuity to sustain the momentum built up in pursuing our key performance targets.
Yiu also recognised the contributions of outgoing NEDs Dr Evelyn Lam, Dr Ares Leung, and Professor Anna Wong. He acknowledged their roles in shaping the organisation’s strategic goals and corporate direction.
In other news, a series of phishing scams impersonating authorised insurers have prompted warnings from the IA, with the most recent alerts issued on Jan. 3, 2025.
Fraudulent mobile text messages claiming to represent Bowtie Life Insurance Company Limited were used to deceive recipients into providing personal or payment information.
The fraudulent messages directed recipients to contact a suspicious phone number regarding alleged policy transactions.
Bowtie confirmed that it has no connection with these communications, and the matter has been reported to the Hong Kong Police Force for investigation.
Earlier alerts were issued on Dec. 30 and 31, 2024, concerning phishing messages using the names of AIA International Limited and AXA. The fraudulent messages either included hyperlinks or requested recipients to cancel fake transactions through a suspicious contact number.
Both companies confirmed their lack of association with the scams and urged affected individuals to report incidents to the police and their customer service teams.
The IA emphasised that individuals should verify any suspicious communications through official channels and consult the Register of Authorized Insurers on the regulator’s website for accurate information.
