The two-week “High-Level Training and Study Visit Tour” for the regulators of the “Association of Lusophone Insurance Supervisors” has been successfully concluded recently, with 19 supervisors from six Portuguese-speaking countries and Macao completing the training and receiving certificates at the closing ceremony held on the last day of the programme. All the trainees have learnt a lot and recognised that Macao has played the role of ‘Financial Services Platform between China and Portuguese-speaking Countries’.

The ASEL training activities, jointly organised by the Monetary Authority of Macao (AMCM) and the Insurance and Pension Funds Supervisory Authority of Portugal (ASF), themed “Insurance Development and Regulatory Responses to Challenges in the New Era”, all are centred around the themes of insurance and technology”, from programme design, trainers selection to study visit arrangement.

During the training programme, the organiser arranged for the trainees to have in-depth discussions with the trainers on digital transformation of the insurance sector, fintech regulation, data governance etc., as well as exchanging insights with Macao's insurance sector on market development and operational practices. Through cooperation with the Financial Development Bureau of Guangdong-Macao Intensive Cooperation Zone, the orgainser arranged visits for trainees to advanced technology enterprises in Hengqin, Dongguan, and Shenzhen. These included tours to cybersecurity centers, smart living and R&D offices for financial services of technology company, as well as thematic study at tech-driven insurance company. Through these activities, trainees gained in-depth knowledge of cutting-edge technologies and security governance systems in mainland China’s 5G, cloud computing, artificial intelligence, and digital financial insurance sectors. They also explored innovative applications such as AI-powered underwriting and real-time online claims assessment services. The trainees also visited the Shenzhen Stock Exchange to learn about the application of technology in different areas, such as risk management, market trading and the use of AI in digital insurance. The programme further included a visit to Macao’s “Pavilion of China-Portuguese-speaking Countries Commercial and Trade Service Platform”, where trainees learned about Macao’s achievements in fostering the Platform between China and Portuguese-speaking countries.

Ms. Filomena 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), Mr. Vong Lap Fong, Executive Director of AMCM, Mr. Rui Fidalgo, Director of ASF and representatives from the Macau Insurance Association (MIA), totaling about 50 people, attended the event.

During the closing ceremony, Ms. Filomena Manjata and Ms. Ester José praised the training programme for its precision and relevance, and the trainees greatly benefited from the thematic discussions on innovative technologies and the field visits in mainland China, while Mr. Rui Fidalgo, on behalf of Ms. Margarida Corrêa de Aguiar, President of ASF, said that the training shared practical knowledge, strengthened the professionalism of regulators and deepened the exchange and cooperation among ASEL regulators. Regulators from different jurisdictions responded positively to the programme, expressing significant gains from expert-led sessions and industry exchanges, and would apply the acquired knowledge, insights, and experiences upon returning to their respective countries to optimise their work in insurance regulation.

In his concluding remarks, Mr. Vong Lap Fong emphasized Macao’s role as a “Platform between China and Portuguese-speaking Countries” dedicated to fostering mutual gains from the cooperation between China and Portuguese-speaking countries. He encouraged the trainees to apply what they have learned and welcomed Portuguese-speaking insurance regulators to continue leveraging Macao’s platform to deepen exchanges and collaboration with mainland China in the insurance sector.