We’ve set a brand new Guinness World Report for probably the most useful life insurance coverage coverage ever bought, value US$250 million. Issued and absolutely underwritten by HSBC Life, our insurance coverage enterprise in Hong Kong, it was taken out by a person buyer earlier this yr. The plan, a whole-of-life safety coverage, can pay …
We’ve set a brand new Guinness World Report for probably the most useful life insurance coverage coverage ever bought, value US$250 million.
Issued and absolutely underwritten by HSBC Life, our insurance coverage enterprise in Hong Kong, it was taken out by a person buyer earlier this yr.
The plan, a whole-of-life safety coverage, can pay out US$250 million to the insured individual’s named beneficiary after their loss of life.
It consists of options geared toward defending the person’s wealth for future generations of the household.
Edward Moncreiffe, CEO, HSBC Life, Hong Kong and Macau, stated: “Asia is house to the quickest rising ultra-high-net-worth inhabitants on the planet, and as such we’re seeing a considerable enhance in demand for insurance coverage options to deal with enterprise succession, property administration and legacy planning wants.
“The issuance of those high-value life insurance coverage insurance policies reaffirms Hong Kong’s place as each a most popular vacation spot for wealth administration and a number one worldwide insurance coverage hub.”
Asia is house to the quickest rising ultra-high-net-worth inhabitants on the planet
Prior to now 12 months, HSBC Life has issued 10 different life insurance coverage insurance policies valued at US$50 million or greater to particular person clients.
“The Hong Kong life insurance coverage market has deep expertise swimming pools throughout intermediaries, underwriters and actuaries, sturdy competitors amongst worldwide banks, brokers and insurers, nicely capitalised insurance coverage corporations with sturdy credit score rankings and a sound regulatory regime,” added Edward Moncreiffe.
“Because the market-leading insurer in Hong Kong, HSBC Life is well-positioned to seize its fair proportion of the demand and we’ll proceed to put money into our individuals, services and products on this phase accordingly.”
The earlier Guinness World Report, for a US$201 million life insurance coverage coverage, was licensed in California, within the US, in 2014.
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