The Zhitong Finance App learned that on August 14, the HKSAR Government announced that Zhang Yunzheng was re-appointed as Executive Director of the Insurance Authority (Insurance Regulatory Authority) for a term of three years, from August 15, 2026 to August 14, 2029. This appointment is made by the Chief Executive under the Insurance Ordinance (Chapter 41) (the “Ordinance”).
The Secretary for Financial Services and the Treasury, Mr Hui Ching-yu, welcomed the appointments and said that Mr. Cheung has performed well in enhancing Hong Kong's status as an international risk management center and strengthening the regulatory framework for the insurance industry. Under Mr. Cheung's leadership, the Insurance Regulatory Authority has made significant progress in promoting a risk-based capital system, reviewing the system to support infrastructure investment in mainland China and Hong Kong, strengthening the insurance-linked securities market, and enhancing the competitiveness of Hong Kong's exclusive self-insurance business. I am convinced that he will continue to lead the Insurance Regulatory Authority to strengthen prudential supervision, protect the interests of policyholders, and work closely with the industry to enhance Hong Kong's competitiveness while opening up new opportunities in mainland China and overseas markets.
Zhang Yunzheng was first appointed as the Executive Director of the Insurance Regulatory Authority in August 2018. He is currently a member of the Executive Committee of the International Association of Insurance Supervisors and a member of the Asian Insurance Supervisors Forum.
The Insurance Regulatory Authority is an independent insurance industry regulator established under the Regulations in December 2015. The Authority took over from the former Department of Insurance Industry Supervision in June 2017 to regulate insurance companies, and implemented direct regulation of insurance intermediaries in September 2019.