Macau Insurance Industry Professionals Association (“MIIPA”) held the "Risk Based Capital Framework Forum" at City University of Macau on 5th June 2024. The "Risk Based Capital Framework Forum" aims to develop a clear and uniform valuation standard and capital’s risk sensitivity requirement, enhance the corporate governance of insurance companies, enterprise risk management and data disclosure standard, so as to associate the capital adequacy level of insurance companies with the risk they borne, and ultimately, strengthen the protection to the policyholders.

This forum had two themes: The first theme was presented by Byron Wong, Deputy Director of Insurance Supervision Department of the Monetary Authority of Macao, Julian Man, Consulting Actuary of Milliman and Fei Xie, Director of Deloitte, explaining the impact of the framework on the life insurance industry in Macao. Specialists are also invited for a panel discussion on the implementation of framework: Jose Matias, chairman of the panel discussion; panelists also include Julian Man, Fei Xie, Xerxes Wong, Mike Wong, Paul Fung and Cally Kuan.

The second theme was presented by Catherine Lu, Consulting Actuary of Milliman; Winnie Sun, Partner in Deloitte Actuarial and Insurance Solution and Sheng Yu, Managing Director of S. Yu & Partners explaining the impact of the framework on the non-life insurance industry in Macao. Specialists are also invited for a panel discussion on the implementation of framework: Jose Matias, chairman of the panel discussion, panelists include Catherine Lu, Winnie Sun, Sheng Yu, Kelvin Tam and Errol Lai King.

Guests that attended the forum include Wilson Vong, Executive Director of the Monetary Authority of Macao; Doris Chan, Director of Insurance Supervision Department of the Monetary Authority of Macao/ Executive Board Member of Macau Institute of Financial Services; Jorge Neto Valente; José Alves, Dean of Faculty of Business, City University of Macau; Carlos Cid Álvares, Chief Executive Officer of Banco Nacional Ultramarino; Carlos Coelho, Lawyer of MdME; José Matias, Director of Macau Business and the actuarial consultants from Hong Kong, representatives of Macau Insurers’ Association, Association of Macau Financial Employees, Federation of Macau Professional Insurance Intermediaries, Macau Insurance Intermediaries Association and insurance companies. 

MIIPA’s members that attended the forum include Ivan Cheung, President; Edmund Wong, Vice-President; Pierre Fong and Kimman Ieong; Directors, Paulo Manuel Gomes Barbosa, Chairman of the Board of Supervisors; Keegan Cheang and Paul Li, Vice-Chairmen of the Board of Supervisors