Seize opportunities for wealth accumulation; Zurich's universal life and investment linked insurance as customers' trusted and preferred choice

HONG KONG, Aug. 12, 2024 /PRNewswire/ -- The pace of economic recovery after the pandemic varies across regions, amidst inflation and market expectations of an interest rates cut cycle. Against such backdrop, Zurich Insurance (Hong Kong) ("Zurich") has introduced award-winning universal life insurance and investment linked assurance products, supported by personalized services and online platforms, helping customers plan for their future with confidence in uncertain market conditions.

With its innovative life insurance products and flexible wealth management concepts, Zurich has been awarded the prestigious "Life & Wealth Management Insurance - Excellence Performance" in the Bloomberg Businessweek Financial Institutions Awards for three consecutive years. This year, Zurich once again emerged as the winner of the award with its Swiss Fortune Universal Life Plan ("Swiss Fortune"). Geoffrey Au, CEO of Life Insurance, Zurich Insurance (Hong Kong), said, "We understand customers' growing demand for flexible savings insurance plans. Swiss Fortune benefits from the flexibility of traditional universal life products and incorporates effective risk management investment strategies, effectively catering to the diverse needs of our customers for wealth appreciation and succession planning. Winning this award once again serves as a testament to Zurich's brand excellence, cultivated over a rich history spanning over 150 years, and the exceptional qualities that set Swiss Fortune apart."

Growing importance of Universal Life products

In today's developed markets like the United States, universal life insurance has taken over traditional life insurance to become a preferred option¹. Meanwhile, Asian customers value succession planning for transferring wealth to next generations. Swiss Fortune grasps this opportunity by featuring wealth inheritance options and offering flexible contributions, monthly crediting interest and loyalty bonuses², designed to meet the evolving financial needs of customers. As the investment market changes rapidly and is difficult to predict, Swiss Fortune helps customers seize investment opportunities in the market and achieve long-term financial goals, such as retirement and education fund. It does so by providing customers with the upside return potential of equity market, whilst limiting the downside risk from traditional equity investment.

Prudent spending for better future planning

Hong Kong people are becoming more cautious with their finances, making it an opportune moment to reevaluate their current financial status and devise longer-term plans to safeguard themselves and their families. Investment-linked assurance scheme (ILAS) can meet both insurance and investment needs, while offering a one-stop account to manage multiple investment options with a clear fee structure and life insurance, making it one of the suitable tools for investment and financial planning. As an expert in ILAS products, Zurich has won the "Award for Excellence in Investment-linked Assurance Scheme" three times in a roll from Ming Pao Awards for Excellence in Finance 2024. Zurich's ILAS products have also been accepted as one of the "Permissible Financial Assets" under the "New Capital Investment Entrant Scheme" (New CIES), and rank market first³ with the number of ESG investment choices available in Hong Kong. These distinctive features have solidified Zurich's ILAS products as the favored option among a broad spectrum of local and international customers.

To facilitate visitors to Hong Kong to understand Zurich's prestigious brand and life insurance products, the "Zurich Premier Wealth Center" located in Tsim Sha Tsui shopping district offers a comfortable and private environment for customers to engage in financial analysis with financial planners, complete insurance application procedures and make premium payments. The "Zurich Premier Wealth Center", conveniently accessible by transportation, offers a panoramic view of Victoria Harbour and has welcomed numerous customers from Asia and the Greater Bay Area since its establishment last year.

Geoffrey concluded, "In recent years, Zurich has been striving to provide even better customer experience, actively enhancing our life insurance product design and service processes. These endeavors have received exceptional media accolades, providing a strong impetus for our business and leading us to continue being the preferred choice for customers."

¹ Source: LIMRA International Inc. - 2023 Marks Third Consecutive Year of Record Sales for U.S. Individual Life Insurance (Published in Feb 2024).

² Crediting interest and loyalty bonuses are not guaranteed and may even be zero.

³ As of July 2024.

Disclaimer:

The information contained in this material is for informational purposes only and is not intended to constitute any recommendation or advice to any person. Readers should not make any decision based solely on the information contained herein. Before acting on any information in this material, readers should consider their personal situation and seek independent advice.

Zurich Life Insurance (Hong Kong) Limited ("Zurich Insurance") has based this material on information obtained from sources it believes to be reliable, but it does not warrant the correctness, adequacy and completeness of the information contained herein.

The insurance product mentioned in this material is underwritten by Zurich Insurance and is intended only for sale in the Hong Kong SAR. This material should not be regarded as an offer or solicitation to sell any insurance products or services in any jurisdiction in which such offer or solicitation would be unlawful in such jurisdiction.

The product information provided herein is for reference only and does not form part of the insurance contract. Please refer to the product brochure for the detailed features and the policy provisions for the detailed terms and conditions. In case of inconsistency, the policy provisions shall prevail. Zurich Insurance reserves the right of final approval and decision on all matters.

The information contained in this material may not be reproduced either in whole, or in part, without prior written permission of Zurich Insurance. In no event shall Zurich Insurance be liable for any damages or losses arising out of or in connection with the use, reliance on or distribution of the information contained in this material by any person.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Seize opportunities for wealth accumulation; Zurich's universal life and investment linked insurance as customers' trusted and preferred choice

Seize opportunities for wealth accumulation; Zurich's universal life and investment linked insurance as customers' trusted and preferred choice

Over 220 representatives from international tourism organizations, city governments, and industry stakeholders gathered to discuss "The Next Wave: Shaping the Future of Tourism Marketing in Tropical Coastal Cities".

SANYA, China, Sept. 13, 2024 /PRNewswire/ -- The 2024 Tropical Coastal City Tourism Event, supported by the Pacific Asia Travel Association (PATA), was successfully held in Sanya on September 5. Themed "The Next Wave: Shaping the Future of Tourism Marketing in Tropical Coastal Cities", the event brought together representatives from six major international tourism organizations, delegates from foreign city administrations alongside with domestic governmental sectors and travel companies.

At the opening ceremony of the event, Weizheng Fan, Vice-mayor of the People's Government of Sanya City, delivered a welcome remark, expressing his warm welcome to all the guests and stressing the importance of the event in promoting international tourism cooperation. He said that Sanya actively seeks in-depth cooperation with the international community and hopes to join hands with the global tropical coastal cities to jointly promote the sustainable development of tourism and create a new chapter in the development of tropical coastal city tourism. Ambassador for Greater China at the Pacific Asia Travel Association (PATA) Soon Hwa Wong, also delivered a speech, addressing that the innovative development of Sanya's tourism industry in recent years is obvious to all, which has played an important role in promoting the prosperity of the global tourism industry. The Association is full of expectations for further in-depth cooperation between Sanya and PATA.

Harry Hwang, Regional Director for Asia and the Pacific at UN Tourism, delivered a speech, highlighting Sanya's innovative development in recent years and its crucial role in the prosperity of the global tourism industry.

Albert Yip, Director General of the Sanya Tourism Board, proposed the establishment of the Tropical Coastal City Tourism Alliance. This initiative aims to unite island tourism nations, cities, and regions in active intergovernmental and civil exchanges, and to promote collaboration among tropical coastal cities. Sanya, serving as a pivotal link among such cities, is actively working to form the alliance and is inviting stakeholders to partake in annual exchanges initiated by Sanya. The goal is to collectively market and promote tropical coastal cities as premier tourist destinations, positioning Sanya as a central hub for international tourism city development and contributing to the robust growth of the tourism industry.

During the event, Noor Ahmad Hamid, CEO of PATA, moderated a panel discussion on "The Next Wave: Shaping the Future of Tourism Marketing in Tropical Coastal Cities". The city representatives shared insights on the evolving international tourism marketing landscape and innovative strategies to attract global tourists. Discussion topics included diversifying source markets and products, transitioning from mass tourism to niche tourism, and balancing domestic and international tourist influxes. The panel also delved into the challenges, opportunities, and potential for cooperation among tropical coastal cities. The event featured additional panel discussions on sustainable tourism development and indigenous tourism, providing opportunities for tourism enterprises to network and exchange ideas.

As the host and location of the event, Sanya once again emerged as a focal point in the global tourism industry, opening new chapters in tourism market development, international cooperation, and cultural exchange among tropical coastal cities. Looking ahead, Sanya will continue to strengthen its collaboration with the international tourism community, leveraging platforms provided by international tourism organizations to promote tropical coastal cities like Sanya. The aim is to drive innovative development in the tourism industry and infuse fresh vigor into the sustainable development of tropical coastal cities.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Sanya Hosts Major 2024 Tropical Coastal City Tourism Event, Uniting Global Leaders

Sanya Hosts Major 2024 Tropical Coastal City Tourism Event, Uniting Global Leaders

Sanya Hosts Major 2024 Tropical Coastal City Tourism Event, Uniting Global Leaders