To leverage Macao’s role as the “Financial Services Platform between China and Portuguese-speaking Countries,” the Monetary Authority of Macao (AMCM) and the Insurance and Pension Funds Supervisory Authority of Portugal (ASF), jointly organised the “High-Level Training and Study Visit ” for the peer regulators of the “Association of Lusophone Insurance Supervisors (ASEL) ”, providing training for 19 insurance regulators from Portugal, Mozambique, Angola, Brazil, Timor-Leste, Cape Verde, and Macao. A conference held on 12th May marked the official launch of the series of activities.

The conference, themed “Insurance Development and Regulatory Responses to Challenges in the New Era,” delved into cutting-edge topics such as the development of fintech, artificial intelligence, and the digital transformation of the insurance industry.  Approximately 120 guests attended the event, including Ms. Margarida Corrêa de Aguiar, President of ASF; Mr. Xiao Yuanqi, Vice Chairman of the National Financial Regulatory Administration (NFRA); Ms. Lau Hang Kun, Acting Chairperson of the Executive Board of AMCM; Ms. Filomena Rossana Airosa Manjata, President of the Board of Directors of the Angolan Agency for Insurance Regulation and Supervision (ARSEG); Ms. Ester dos Santos José, President of the Board of Directors of Insurance Supervision Institute of Mozambique (ISSM); and representatives from Macao’s insurance and banking sectors.

Ms. Lau Hang Kun delivered a speech on behalf of Mr. Tai Kin Ip, the Secretary for Economy and Finance of the Macao SAR.  During her speech, she remarked that Macao, serving as a "precise liaison" for cooperation between China and Portuguese-speaking countries, has fully leveraged the institutional advantages of the "One Country, Two Systems" to facilitate construction of the “Financial Services Platform between China and Portuguese-speaking Countries". Earlier this year, the Macao SAR Government has launched direct connectivity with the Hong Kong bond market, providing convenient channels for international investors, including those from Portuguese-speaking countries, to participate in Macao’s bond market. In the insurance sector, the regulatory system has been continuously refined. The Macao SAR government has initiated research on the Risk-Based Capital Framework for the insurance industry to strengthen solvency supervision and further align with international regulatory standards. This conference brings together insurance regulators, industry leaders, and top talents from China, Portuguese-speaking countries, and the fintech sector for collaborative exchange, promising to deliver new perspectives and profound insights.

During his speech, Mr. Xiao Yuanqi emphasized that the global insurance industry still holds immense market potential, in particular, there is a lot of room for development in areas such as personalized healthcare, high-quality elderly care services, wealth accumulation, and secure inheritance, which are expected to achieve faster growth. At present and in the coming period, the global insurance sector must place greater emphasis on addressing interest rate risks, concentration risks, and proactively tackling challenges posed by climate change. Insurance companies should formulate development strategies and business models that align with their resource endowments while maintaining operational resilience, strengthen their capacity to manage operational uncertainties, and cultivate a corporate culture rooted in integrity, compliance, and sustainable development. Regulatory bodies must enhance oversight of asset-liability management and actuarial quality to ensure the long-term, stable growth of the global insurance industry.

During her speech, Ms. Margarida Corrêa de Aguiar stressed the importance of institutional cooperation and knowledge sharing when facing challenges of the new era.  She also highlighted the joint cooperation by AMCM and ASF co-hosting the “High-Level Training and Study Visit” for ASEL regulators in 2025, is the result of partnership between Macao and Portuguese insurance authorities, aims to enhance technical capabilities and promote the exchange of good practices in the insurance supervisory sector. She also pointed out that as digital transformation, cyber risks and artificial intelligence reshape the insurance industry, the regulatory framework needs to be adjusted accordingly to strike a balance between technological innovation, financial stability and consumer protection.

In his closing remarks, Mr. Vong Lap Fong, Executive Director of AMCM, said that the conference had brought together regulatory expertise from China and Portuguese-speaking countries, and had fully demonstrated Macao's unique advantages as the “Financial Services Platform between China and Portuguese-speaking Countries". International supervisory cooperation is increasingly important amid the rapid development of digital transformation. As the Rotating President of ASEL, AMCM will endeavour to promote professional exchanges and collaboration between the insurance regulators of China and the Portuguese-speaking countries, so as to enhance their ability to cope with the challenges posed by digitalization, and to promote the steady development of the insurance market, thereby achieving higher economic benefits and social values.

The ASEL training activities will last for about two weeks. Representatives from the NFRA and ASF have been invited to share insights on digitalization trends and regulatory developments in the insurance markets of China and Portugal. The programme also featured specialized lectures and workshops led by insurance regulators from AMCM, as well as experts in FinTech and cybersecurity. Key topics include digital transformation in the financial sector, FinTech regulation, data governance, and insurance supervision—all aligned with current industry trends and regulatory priorities. Additionally, the AMCM will arrange knowledge exchanges with Macao’s insurance industry, visit the “Pavilion of China-Portuguese-speaking Countries Commercial and Trade Service Platform”, and in conjunction with the Financial Development Bureau of the Hengqin Guangdong-Macao Deep Cooperation Zone, organize visits to Hengqin, Dongguan, and Shenzhen to explore the latest advancements in insurance technology across Mainland China.