LUAHK (The Life Underwriters Association of Hong Kong)
Inaugurated in 1973, the Life Underwriters Association of Hong Kong Ltd. (LUAHK) is a voluntary organisation of professional insurance intermediaries destined for professional development of the insurance services for the community of Hong Kong. Today we have almost 10,000 members – one of the greatest organisation of insurance intermediaries in Hong Kong. LUAHK is also the founding members of Asia Pacific Financial Services Association ("APFinSA"), which includes 11 member regions: Singapore, Japan, Australia, Taiwan, Malaysia, Thailand, Philippines, India, Indonesia, Macau and Hong Kong.
The aim of the association is to enhance and uphold the professional and ethical standard of the life insurance practitioners through the enactment of code of conducts and ethics for its members, providing education programs and mobilizing members to participate in social services for promoting the development of the industry.
In the past 40 years, LUAHK organized various seminars, conventions, workshops and education programs, such as LUTCF Sales Training Program (LUTCF) and Associate Chartered Financial Practitioners / Fellow, Chartered Financial Practitioners (AChFP / FChFP), Chartered Life Underwriter (CLU) & Chartered Financial Consultant (ChFC) etc. to uphold the professional standards of insurance practitioners in financial and business sectors. In 2015, a new program named Chartered Life Practitioner (ChLP) endorsed by Asia Pacific Financial Services Association ("APFinSA") was first launched.
Besides, the launch of Distinguished Manager Award & Distinguished Agent Award (DMA & DAA) in 1993, Best Financial Planner Award in 2007, and Quality Advisor Award / Quality Manager Award / Quality Leader Award (QAA / QMA / QLA) in 2010 and 2015 respectively which recognize the outstanding performance of insurance elites are widely received and recognized by insurance companies and the public.
For external affairs, LUAHK was invited to represent the life insurance intermediaries to participate in the Insurance Agents Registration Board (IARB) for administration of the insurance agents’ registration policy in 1993. In addition, the Industry Affairs Steering Committee was set up in 2010 focusing on communications with the government and related associations. Its main responsibilities are to fight for the best interest of insurance practitioners and to uplift the professional image of the industry.
In 1997, LUAHK played host to 4th Asia Pacific Life Insurance Congress. More than 9,000 life insurance practitioners from 13 countries including Singapore, Thailand, Indonesia, Philippines, Vietnam, India, Sri Lanka, Macau, Japan, Australia, China and Malaysia attended the bi-annual event, making it the largest financial services congress in the region. LUAHK was much honoured to host the APLIC Congress again in 2019 with a THEME “Work with Mission, Serve with Passion”, marking another significant milestone for the development of LUAHK.
In 1998, LUA Foundation, a government approved charitable foundation, was set up to manage and operate the charitable functions in an effective way. Over the past years, charitable activities organized by LUAHK and LUA Foundation were organized to motivate members to contribute to the society. Since the establishment of LUA Foundation, donations have been made to the needy and various charitable organizations. In 2002, a SARS Fund was set up to help members infected by SARS and a fund raising project for sufferers of Tsunami in Asia Countries in 2004 finally raised over HK$1,400,000 to UNICEF. Recently, we have donated HK$450,000 and HK$1,000,000 to The Society for the Promotion of Hospice Care and Haven of Hope Holistic Care Centre respectively for services enhancement for the patients with terminal illness.
“LifeCare Movement” was first launched in 2005 with an aim to promote “Life Education” and “Policy Donation Program” in order to embody the core value of life insurance and secure sustainable funding for charitable organizations. Through all-round media promotion and the support from LifeCare Ambassadors & Leaders, the sum insured for policy donations has accumulated to HK$200 million & the realized policy donations scored over HK$8 million.