The majority of insurance advisers in Asia are optimistic about the economy, the outlook for the life insurance industry and sales growth, despite being in the midst of a pandemic, according to a survey conducted by Sun Life. It also finds that COVID-19 is having a polarizing effect in the industry as digital becomes a critical tool for sales performance.
The Manulife group of companies operating in Hong Kong and Macau ("Manulife Hong Kong") announced financial results for the fourth quarter and full year of 2020. Despite headwinds from the COVID-19 pandemic, both fourth-quarter and full-year core earnings grew 10% year-on-year to a record high driven by strong execution and momentum of its agency force.
The COVID-19 crisis and the ensuing lockdown measures have exacerbated levels of anxiety and stress among Hongkongers, who had been reeling from nearly a year of anti-government protests that had already led to a significant increase in post-traumatic stress disorder cases (PTSD).
"Now is the time for financial services companies to take advantage of the opportunities stemming from the Greater Bay Area, in order to ensure that they are primed to meet the customer demand moving forward," said Henrik Naujoks, Bain & Company's Asia Pacific Financial Services Leader, and co-author of the report "Are You Ready for the Financial Services Opportunities of China's Greater Bay Area?".
AXA Hong Kong and Macau announced the launch of "Wealth Ultra Savings Plan (2-year Pay)"("Wealth Ultra (2-year Pay)"), a participating life insurance plan with a short premium payment term of two years.
As the COVID-19 pandemic continues, AXA Hong Kong and Macau announced the launch of a series of free new physical and mental health protection and services for all Employee Benefits customers, supporting corporates and their employees in this critical time.
HSBC Life today announced the launch of a leading digital employee benefits solution, HSBC Life Benefits+ to commercial customers in Hong Kong. A dedicated health and wellness proposition for Hong Kong employers with flexible group medical and life coverage and an immersive one-stop digital platform for employees, HSBC Life Benefits+ offers extensive support for businesses to look after employees' well-being, and attract, incentivise and retain talent.
FTLife Insurance Company Limited (FTLife) has conducted a "Retirement Planning and Confidence Survey" in December 2020. The survey revealed increased pessimistic about retirement among respondents since the start of the pandemic.
Manulife Hong Kong has announced the appointment of Ivan Chan as Chief Agency Officer (CAO) and Tracy Leung as Chief Partnership Distribution Officer (CPDO). Both appointments come as part of the company's ongoing commitment to strongly building its leadership to further expand its distribution capabilities.
To ensure customers can travel with confidence during the COVID-19 pandemic, HK Express has introduced a new pre-departure essential: Complimentary COVID-19 Travel Insurance, provided in partnership with Chubb Insurance Hong Kong Limited.
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