Insurance Authority seeks consultant for structure review

Hong Kong''s insurance regulator is exploring potential mergers with MPFA, SFC or HKMA.

The Office of the Commissioner of Insurance, a department of the government of Hong Kong also known informally as the Insurance Authority, is preparing requests for proposals from management consultants to review its structure, says Ros Lam Ka-tai, associate commissioner. A consultant will likely be appointed by the end of the year.

The consultant's role will be to first, evaluate whether the IA should remain within the civil service or be spun off as a statutory body and second, if spun off, should it be merged with other regulatory entities. By its legacy of being one of Hong Kong's oldest financial regulators, IA which was founded in 1990, is the only one that is...

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