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Hong Kong: Dr Moses Cheng is Chairman of IIA

Source: Asia Insurance Review | Feb 2016

Dr Moses Cheng Mo-chi
Dr Moses Cheng Mo-chi has been appointed as the Chairman of the Independent Insurance Authority (IIA) for a term of three years from 28 December 2015, the Hong Kong government has announced. 
 
   The IIA, a statutory body, is a new insurance regulator independent of the government. At present, the Office of the Commissioner of Insurance (OCI), a government department, regulates insurance companies and three Self-Regulatory Organisations (SROs) supervise insurance intermediaries. The target is for the IIA to replace the OCI by the end of 2016 and take over the supervision of insurance intermediaries from the SROs two to three years from now.
 
John Tsang
   Financial Secretary, Mr John Tsang, said: “The IIA will face a range of challenging tasks in establishing itself as a new insurance regulator. Under the chairmanship of Dr Cheng, who has extensive experience in public service, I am confident that the IIA will work closely with stakeholders in taking forward the modernisation of the insurance regulatory regime in Hong Kong and in discharging its statutory duties.”
 
   Dr Cheng is a senior partner of a law firm, with areas of practice covering capital markets, corporate governance and regulatory compliance. He has served in important positions including Chairman of the Education Commission, government-appointed Director on the Board of the Hong Kong Exchanges and Clearing, and founding Vice-Chairman of the Estate Agents Authority.
 
   Seven other persons have been named as Non-Executive Directors of the IIA for the same three years till 27 December 2018. 
 
   Mr Tsang said: “The seven Non-Executive Directors will bring to the IIA a wealth of experience and expertise in different sectors, including insurance, accountancy, law, consumer affairs, actuarial science and management.
 
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