The “China Life-Guangfa Joint Lecture” series co-organized by China Life Insurance (Overseas) Co., Ltd. Macau Branch and the Faculty of Finance was held at the City University of Macau on 3 October.   Zhang Zhonghua, Deputy General Manager of Personal Agency Department, China Life Insurance (Overseas) Co., Ltd. Macau Branch, spoke on “The Opportunities and Challenges for Macao’s Insurance Industry” and shared with our teachers and students the importance of insurance and the development opportunities of Macao’s insurance industry.  Mr Ding Rui, Deputy General Manager of China Life Insurance (Overseas) Co., Ltd. Macau Branch, Ms Jin Ling, General Manager of the Department of General Management of China Life Insurance (Overseas) Co., Ltd. Macau Branch, He Dongbin and Lin Saiguo, respectively General Manager of Banking Department and Deputy General Manager of Corporate Department, China Guangfa Bank (Macau Branch), Prof Michael T. Chng and Associate Professor Eva Khong, respectively  Executive Dean and Associate Dean of the Faculty of Finance, as well as teachers of the Faculty attended the lecture.  Executive Dean Michael T. Chng presented a souvenir to the speaker, Deputy General Manager Zhang Zhonghua on behalf of the University.

  Deputy General Manager Zhang Zhonghua used “Life requires planning and risk requires management” to point out that one would face different kinds of risk and may encounter different kinds of accident at different life stages and insurance was therefore an important means to cope with risks in life.  However, compared with cities such as Hong Kong, Macao’s insurance industry lagged behind and had significant room for development.  By presenting data analysis and comparison, Deputy General Manager Zhang Zhonghua showed that Macao’s insurance faced various challenges, including reduction in the number of agents and slower growth in premiums, greater market competition, lower returns in capital market and a rather traditional development approach etc.  On the other hand, there were also opportunities brought about by rising per capita income in Macao, greater awareness of insurance, accelerated development of “Belt and Road” and Guangdong-Hong Kong-Macao Greater Bay Area and a huge Mainland insurance market etc.

  Teachers and students were deeply interested in Deputy General Manager Zhang Zhonghua’s wonderful speech, interacted with our speaker and asked many questions.   After the speech, students had discussion and exchanged views with Deputy General Manager Zhang.