IRCSL strengthens global engagement through strategic Hong Kong visit

The Insurance Regulatory Commission of Sri Lanka (IRCSL) recently undertook an official visit to Hong Kong aimed at strengthening its regulatory capabilities and international engagement through exposure to globally recognised best practices and evolving supervisory frameworks.

During the visit, the IRCSL delegation held a series of high-level discussions with the Hong Kong Insurance Authority (HKIA), the regulator of one of Asia’s most advanced insurance markets. Discussions focused on modern regulatory approaches and emerging trends shaping the global insurance industry.

The delegation also met senior representatives from Hong Kong’s Health Bureau, the Hong Kong Actuarial Society, the Hong Kong Federation of Insurers, and the Hong Kong Confederation of Insurance Brokers to gain broader insights into regulatory, actuarial, healthcare, and distribution-related developments within the Hong Kong insurance ecosystem.

The IRCSL delegation was led by Chairman Dr. Ajith Ravindra De Mel and included Director General Damayanthi Fernando and Assistant Director – Information Technology Dirrel Fernando.

During the visit, the delegation also met Lee Yuan Siong, President and Group Chief Executive of AIA Group, and engaged with several senior AIA executives to better understand international best practices and operational standards adopted by Asia’s leading life insurer.

IRCSL said the insights gained through the visit are expected to support the continued enhancement of Sri Lanka’s insurance supervisory framework, ensuring greater alignment with global standards while addressing local market dynamics.