The Hong Kong Federation of Insurers (HKFI) announced on 6 January 2010 that Mr Alex W Y Chu, Chief Executive of HSBC Life (International) Limited, has been unanimously elected Chairman of the Life Insurance Council to fill the vacancy arising from the death of Mr K.Y. To.
Mr Chu is currently the Chairman of the Life Insurance Council, the Retirement Schemes Working Group and the Task Force on the Race Discrimination Ordinance and a member of the HKFI Governing Committee, the Task Force on Disclosure of Intermediaries' Remuneration and the Task Force on Healthcare Reform. Mr Chu has also been the Honorary Secretary of the Insurance Claims Complaints Bureau since 2007. In addition, Mr Chu is a member of the Mandatory Provident Fund Schemes Operation Review Committee and Guidelines Committee. He also serves on the Insurance Intermediaries Quality Assurance Scheme Steering Committee under the Hong Kong Insurance Authority (HKIA).
The Life Insurance Council currently represents 44 life insurance companies in Hong Kong and works closely with the HKIA in promoting and perfecting the life insurance industry's self-regulatory regime with the aim of improving the professionalism of and strengthening public confidence in the insurance industry.