The Hong Kong Federation of Insurers (HKFI) was established in 1988 to promote insurance and help develop the industry for the benefit of the people and the economy of Hong Kong. Following its conversion to a limited company in 1994, the HKFI became a consolidated and streamlined organization that enjoys full recognition by the government as the representative body of an increasingly important industry. The HKFI is now the representative body of nearly 140  life insurance and general insurance companies in Hong Kong.