Transamerica Life Bermuda has launched its Opus One Indexed Universal Life (IUL) policy in Hong Kong, making it available to professional investors.
The company is among the first in the jurisdiction to offer this type of product following adjustments to the city’s insurance regulatory framework.
The product debut coincides with the appointment of Mr Brandon Szeto as chief commercial officer, a move the company said supports its expansion in the high-net-worth (HNW) segment across Asia.
Chief Executive Officer Kristine Ung said the company is building its capabilities to meet the demands of HNW customers in its main markets.
“We are investing in the right talent and capabilities to deliver sophisticated, client-centric solutions across our key markets. Opus One is another example of how we’re bringing that vision to life,” she said.
Mr Szeto said the new policy offers features such as a volatility-managed VC Uncapped Index Account, flexible coverage levels, and liquidity options, aimed at giving clients tools for wealth accumulation and transfer.
“Opus One is designed to meet the evolving needs of today’s HNW clients,” he said. “I’m excited to lead our commercial strategy as we deepen our presence in Asia and beyond.”
Opus One combines global investment exposure with life insurance protection, intended for clients who want both long-term capital growth and estate planning benefits, according to the insurer.
The company said the product is designed for individuals with cross-border financial considerations and complex asset structures.
The launch comes as Hong Kong’s insurance market reports growth in the long-term business line in early 2025, according to the Insurance Authority’s (IA) provisional figures.