Insurers welcome new “overdue” Hong Kong regulator

Insurers in Hong Kong have heralded the imminent arrival of the Insurance Authority, which will replace the Office of the Commissioner of Insurance (OCI) in regulating insurance companies, later this month. “We welcome the change, it is long overdue,” said Peter Tam, chief executive, Hong Kong Federation of Insurers (HKFI). The key change is the fact that the new watchdog…

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