PK Lee to retire from Ping An HK with Kelvin Cheung to succeed

February 17 2020 by Andrew Tjaardstra

InsuranceAsia News understands Kelvin Cheung is set to takeover as chief executive at P&C player Ping An Hong Kong in the middle of March.

Cheung is set to replace PK Lee who is retiring after four years at Ping An and after a long career including previous stints at QBE and HSBC in Hong Kong where he worked with veteran David Fried; PK Lee is also on the committee for Hong Kong’s Motor Insurers Bureau.

It will be a busy last few months for PK Lee as Hong Kong grapples with the impact from the coronavirus and companies try to reassure staff and customers, while also trying to keep to long established business plans – of which many may now being rewritten.

His replacement Cheung has previously been a personal lines manager at Chubb Hong Kong SAR, a senior vice president at HSBC Insurance Asia Pacific, a vice president at Allied World and most recently a consultant to Asia Insurance.

Ping An Hong Kong is based in Wan Chai and has 55 staff. It is a small part of Shenzhen-headquartered Ping An and sells a mix of GI cover tailored to the Hong Kong market including motor, fire, home, travel, maid and exhibition cover.

InsuranceAsia News has reached out to Ping An for comment.