Year 2007 - Critical Success Factors

I am pleased to serve my second term as the President of HKCII for 2007 and would like to extend my sincere gratitude to all fellow members of the Executive Committee, Advisers and Councillors for their utmost support during my tenure of office. Together with all our Insurance Intermediaries in Hong Kong , we are confronting a highly competitive and sophisticated insurance market. As an insurance professional, we need to be aware at all times the socio-economical and political change in our society as well as any marketing intelligence that to a lesser or greater extent pertaining to our local insurance industry and affecting the way forward on the professionalism, opportunity, threat of insurance intermediaries. Meeting the challenge to expand in a mature insurance market in Hong Kong, insurance intermediaries have been looking for new business opportunity especially towards our motherland, People’s Republic of China to tap the vast undeveloped market in recent years. Thank you for the tremendous effort of the senior HKSAR government officials and business leaders in negotiating with our Central authority, the CEPA IV that are being launched in 2007 do provide unprecedented opportunity for local insurance intermediaries to settle up their wholly-owned insurance operation and threshold in China. The CEPA IV are indeed encouraging to our industry but on the other hand as an insurance intermediaries we need to further enhance our professionalism and insurance knowledge through training and exchange with our counterparts in China and Hong Kong to increase our competitive niche so that we are in a better position to face the challenges and be adaptive to all the changes lying ahead. Last but not the least, I would like to express our appreciation to our Honourable Mr. Bernard C. Chan, GBS, JP Legislative Councillor and Commissioner of Insurance, Mr. Clement Cheung and Chairman of the Hong Kong Federation of Insurers, Mr. Michael Huddart for their valuable insight and contributions to our HKCII 2007 Yearbook as well as my highest regards to our Editorial Board to compile such an informative and proliferated presentation. Roger Tsang President from the President Message