The Times Australia
News From Asia

.
Times Media

.

Transamerica Life Bermuda Releases Updated Guide To High Net Worth Life Insurance

The updated practical handbook supports financial advisors in understanding the unique features of HNW life insurance and how it can help protect their customers’ wealth

HONG KONG SAR - Media OutReach - 19 August 2022 - Transamerica Life (Bermuda) Ltd. (TLB), a leading High Net Worth (HNW) life insurer, in partnership with Hubbis (HK) Limited ("Hubbis"), announced the release of the updated "Guide to HNW Life Insurance - a Practical Handbook for Financial Advisors 2022" ("Guide"). Sponsored by TLB as part of its Mastering High Net Worth (MHNW) programme, and prepared by Hubbis, this is the third year that TLB has collaborated with Hubbis to bring this important resource to financial advisors, brokers and wealth managers.

Since the last edition of the Guide in 2021, the world and global economy has undergone dramatic changes. Although the anxiety around COVID waned in 2021 across the world, the new COVID variants that continue to emerge, the impact of the war in Ukraine, along with the rise in oil, gas, food prices and supply-side challenges from pandemic lockdowns, has impacted economic activity resulting in increased economic volatility and geopolitical risks. In addition, inflation is running at levels not seen since the early 1980s. In response, central banks around the world are now embarking on a course of rapid tightening in monetary policy. In a remarkably short space of time, we see a flip from low interest rates and high asset markets to higher interest rates and lower asset markets.

Despite the health and market uncertainty, however, the HNW and Ultra High Net Worth (UHNW) population remained resilient. According to a recent Capgemini study, in 2021 the global HNW population and their global wealth grew by 7.8% and 8% respectively. North America led the way in growth, with the European and Asia-Pacific regions following in second and third place respectively.

"While TLB sees a more mixed and challenging economic situation unfolding this year, we remain very positive about the prospects for HNW life insurance growth in 2022 and beyond. With an ever-changing and unpredictable environment comes the desire for more certainty – and life insurance continues to be a perfect vehicle to provide that certainty," said Chirag Rathod, CEO of TLB. "Moreover, high net worth individuals (HNWIs) are showing vibrant interest in new financial solutions, presenting new opportunities for innovation in both products and services. Because of this, the Guide remains an important and relevant tool for financial professionals today. We hope that it provides a useful guide to understanding the key dimensions of HNW life insurance and practical applications. This is part of our continuing commitment to provide utmost support to our partners and helping to add more value to our customers' lives," he added.

"We are delighted to once again partner with Transamerica Life (Bermuda) Ltd. to release this updated version of the Guide. With the challenging market and health environment, we see HNWIs reassessing their priorities and looking for more ways to grow and protect their wealth. The continued demand for life insurance offers a great growth opportunity for financial professionals who are able to quickly adapt to the changing expectations and needs of this unique market segment," said Michael Stanhope, Founder and CEO of Hubbis.

As a leading life insurance company singularly focused on the HNW market, TLB is recognised for its award-winning products and services, as well as its expertise in handling large sums assured and complex cases supporting legacy and business planning. Launched in December 2019, TLB's MHNW program provides its distribution partners with specialised insights, ideas, and resources to help them better serve the needs of HNW customers. As the latest resource under TLB's MHNW program, the Guide aims to furnish financial professionals with an accessible tool to increase their knowledge and skills, helping them to maximise their opportunities in the growing HNW space.

"Guide to HNW Life Insurance - a Practical Handbook for Financial Advisors (2022)" is available to financial services professionals via Hubbis at https://www.hubbis.com/article/guide-to-hnw-life-insurance


Hashtag: #TransamericaLifeBermuda

The issuer is solely responsible for the content of this announcement.

About Transamerica Life (Bermuda) Ltd.:

Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection, including handling large sums assured and complex cases supporting legacy and business planning. Transamerica has been in Asia for over 80 years and has been a pioneer in managing universal life portfolios for over 40 years. TLB was awarded an "Outstanding Responsible Insurer (2021)" award at the 12th Benchmark Wealth Management Awards in Hong Kong. TLB is part of the Aegon Group, an integrated, diversified, international financial services group that offers investment, protection, and retirement solutions. Further information about TLB is available here:

About Aegon:

Aegon's roots go back 175 years – to the first half of the nineteenth century. Since then, Aegon has grown into an integrated, diversified, international financial services group that offers investment, protection, and retirement solutions. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. Aegon companies employ over 22,600 employees and has 31.7 million customers with a clear purpose of "Helping people live their best lives." Further information about Aegon is available here:

The Times Features

Joykids Australia Presents the Joykids Family Rave: A Weekend Adventure Like No Other

Get ready to kick off the first day of summer and the festive season with an unforgettable family adventure! Joykids Australia is excited to announce the Joykids Family Rave—an...

New study suggests weight loss drugs like Ozempic could help with knee pain. Here’s why there may be a link

The drug semaglutide, commonly known by the brand names Ozempic or Wegovy, was originally developed[1] to help people with type 2 diabetes manage their blood sugar levels. How...

Maintaining Your Pool After a Marble Interior Upgrade

After upgrading your pool with a marble interior, it’s crucial to understand that maintenance is key to preserving its elegance and longevity. You’ll want to regularly skim for d...

Labor using explanatory document to hide true powers of Misinformation Bill

The opinions and commentary of individuals could be deemed misinformation under Labor’s proposed legislation changes, according to James McComish of Victorian Bar. Appearing in...

Hotel Indigo launches limited-edition candle collection inspired by local neighbourhoods across ANZ

Hotel Indigo, part of IHG Hotels & Resorts' luxury and lifestyle portfolio, is releasing a limited-edition candle collection inspired by the unique neighbourhoods its hotel...

Kyndryl ANZ appoints new Head of Strategic Partnerships and Alliances

Former Head of Marketing to lead and grow Kyndryl’s local channel ecosystem and bolster technological capabilities Kyndryl has strengthened its local leadership team with the ...

Times Magazine

Chemical Bunds and its needs

If you have a business that involves water and wastewater treatment, banding could be an essential element to prevent leaking store chemicals and protecting the environment. The guidance you would get on bunding chemical manufacturing or in petro...

Top Tips to Choose the Right Screen Repair for iPhone Service

Screen repair for iPhone is an essential service for anyone who owns an Apple device. Cracked screens, broken LCDs, and other display issues can all be addressed with the help of a qualified technician. Apple's official warranty only covers some ty...

Property app Instarent

Property self-management soars during COVID lockdown The innovative PropTech app, Instarent, has seen exponential growth during the COVID -19 lockdown, reporting a 400 per cent increase in users during March/April 2020. These figures indicate ...

Environmental Benefits of Split System Air Conditioning

The split device air conditioner has numerous benefits for the environment. Energy performance is a design characteristic of these gadgets. When as compared to standard techniques, they use much less power. Reduced energy use consequences in smal...

7 Digital Marketing Strategies To Factor Into Your Wider Online Campaign

While the modern digital marketplace is becoming ever more competitive, the good news is that there are countless ways in which you can market your brand, find your audience, and cut through all of the noise. And the best part? A large number of bu...

The Top 5 Best Self-Employed Delivery Driver Jobs for Independent Workers in Australia

In recent years, Australia's sprawling urban landscapes and growing digital consumer trends have witnessed an explosion of opportunities for self-employed delivery drivers. Independent workers now have various platforms to choose from, each offer...