XN000022-1987-01-03 — Page 5

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SATURDAY, JANUARY 3, 1987

OF THESE, 128 WERE INCORPORATED IN HONG KONG.

THE REMAINING

160 CAME FROM 27 COUNTRIES, INCLUDING THE UNITED KINGDOM (49) THE UNITED STATES (29), BERMUDA (11), JAPAN (8), SINGAPORE (7), SWITZERLAND (7), CANADA (6), AND FRANCE (6).

MR GLEESON SAID THE PRESTIGE OF HONG KONG AS AN INSURANCE CENTRE HAD BEEN HEIGHTENED BY THE HOLDING OF THE 13TH EAST ASIAN INSURANCE CONGRESS CONFERENCE IN HONG KONG IN SEPTEMBER.

THE EAST ASIAN INSURANCE CONGRESS IS AN ASSOCIATION FOUNDED IN 1962 TO DEVELOP INTERNATIONAL CO-OPERATION IN THE FIELD OF INSURANCE AMONG MEMBERS IN THE EAST ASIAN COUNTRIES.

THE CONFERENCE WAS ATTENDED BY 1 020 PARTICIPANTS FROM 11 EAST ASIAN AND 18 OTHER COUNTRIES AND WAS A GREAT SUCCESS, MR GLEESON SAID.

ON THE SUBJECT OF NEW INSURANCE LEGISLATION, MR GLEESON ALSO RECALLED THAT THE LAW REFORM COMMISSION HAD ISSUED ITS REPORT ON +LAWS ON INSURANCE+ IN JANUARY 1986 FOR PUBLIC COMMENT, THE REPORT MADE RECOMMENDATIONS ON THE INTRODUCTION OF LEGISLATION TO PROTECT POLICY HOLDERS' RIGHTS UNDER INSURANCE CONTRACTS AND TO REGULATE INSURANCE INTERMEDIARIES (BROKERS AND AGENTS).

THERE WAS KEEN RESPONSE FROM THE INSURANCE INDUSTRY AND MEMBERS OF THE PUBLIC, AND MANY USEFUL VIEWS AND COMMENTS WERE RECEIVED BY THE INSURANCE AUTHORITY DURING THE YEAR.

MR GLEESON SAID THE INSURANCE ADVISORY COMMITTEE HAD ALSO GIVEN ADVICE ON THE REPORT, AND THE GOVERNMENT WAS NOW IN THE PROCESS OF FORMULATING ITS POLICY ON THE VARIOUS RECOMMENDATIONS IN IT.

FIGHT CRIME VIEWS HEARD QUICKLY ***

THE VIEWS OF MUTUAL AID COMMITTEES AND OWNERS' INCORPORATIONS ON FIGHT CRIME MEASURES ARE QUICKLY PASSED ON TO THE RELEVANT DEPARTMENTS FOR APPROPRIATE ACTION, THE KWUN TÔNG ASSISTANT DISTRICT OFFICER, MR GARY YEUNG, SAID THIS (SATURDAY) EVENING.

THIS SPEEDY PROCESS WAS ACHIEVED BY FREQUENT EXCHANGES OF VIEWS BETWEEN THE COMMITTEES AND INCORPORATIONS AND THE DISTRICT'S FIGHT CRIME COMMITTEE, HE SAID.

MR YEUNG WAS SPEAKING AT A CEREMONY, HELD IN THE LOK WAH ESTATE COMMUNITY CENTRE, HONOURING GOOD RESIDENTS AND THE WINNERS OF FIGHT CRIME COMPETITIONS.

HE GAVE