Hong Kong's Insurance Authority is likely to appoint Clement Cheung its new CEO, the South China Morning Post reported June 1, citing "two people familiar with the situation".
The Insurance Authority was set up in June 2017 as an independent regulator with additional powers, replacing the Office of the Commissioner of Insurance. Cheung is a former commissioner of the previous industry watchdog, the publication reported.
Cheung is the government's favored candidate for the role due to his previous experience, one of the people said. If appointed, he will replace John Leung, who was seconded by the government to the regulator for one year until June 25.
