CEPA benefits HK insurance sector, official

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Last updated at: (Beijing Time) Thursday, February 05, 2004

CEPA benefits HK insurance sector, official

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The signing of the Mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA) enabled Hong Kong insurance service suppliers to gain access to this fledgling market, said Commissioner of Insurance Richard Yuen Thursday.

In reviewing the Commissioner of Insurance (OCI)'s work for 2003 in the newly released OCI annual report, Yuen said CEPA has provided a launching pad for Hong Kong's insurance practitioners to benefit from the Mainland's rapid economic growth.

Yuen also said in the annual report that OCI will continue to refine the insurance regulatory regime with a view to enhancing Hong Kong's position as a major international insurance center.

According to statistics from OCI, as of December 31, 2003, there were 188 authorized insurers, 51,149 appointed insurance agents and 4,566 authorized insurance brokers operating in Hong Kong.

Source: China Daily

Source: Xinhua

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