The Times Australia
Tuesday, January 28, 2025 7:02:02 AM
News From Asia

.
The Times Real Estate

.

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

Drop of Sunshine | The perfect gift for that special someone this Valentine’s day

Drop of Sunshine: A Toast to Women, Our Connections & The Stories That Bring Us Together Treasury Wine Estates (TWE), one of the world’s leading wine companies, has launc...

Life Insurance In Australia: A Straightforward Guide

For many of us, life insurance in Australia is something we know we should arrange to protect ourselves and our loved ones but somehow manage to avoid. This is entirely understan...

Gut Feelings: How Your Belly and Brain Conspire During Menopause

Ever had a "gut feeling" or felt "butterflies" in your stomach when nervous? Turns out, it's not just poetic language—your gut and brain are in constant communication, especial...

From Classroom to Property Mogul: Lloyd Edge Shares His Journey and His Blueprint for Property Success

Lloyd Edge’s career trajectory is far from conventional. A former high school teacher, he’s now one of Australia’s leading property experts. But the transition from educator to...

The Impact of Healthy Keto on Digestive Health

By adopting the Healthy Keto diet, people can realistically shed pounds, recharge their batteries, and sharpen their mental focus. While the spotlight shines on the major advanta...

5 Hottest Australian Beach Road Trips In 2025

Australia is currently in the middle of a very hot summer, and the many who are not yet back at work are enjoying the incredible beach lifestyle that the country is credited for...

Times Magazine

How BIM Software is Transforming Architecture and Engineering

Building Information Modeling (BIM) software has become a cornerstone of modern architecture and engineering practices, revolutionizing how professionals design, collaborate, and execute projects. By enabling more efficient workflows and fostering ...

How 32-Inch Computer Monitors Can Increase Your Workflow

With the near-constant usage of technology around the world today, ergonomics have become crucial in business. Moving to 32 inch computer monitors is perhaps one of the best and most valuable improvements you can possibly implement. This-sized moni...

Top Tips for Finding a Great Florist for Your Sydney Wedding

While the choice of wedding venue does much of the heavy lifting when it comes to wowing guests, decorations are certainly not far behind. They can add a bit of personality and flair to the traditional proceedings, as well as enhancing the venue’s ...

Avant Stone's 2025 Nature's Palette Collection

Avant Stone, a longstanding supplier of quality natural stone in Sydney, introduces the 2025 Nature’s Palette Collection. Curated for architects, designers, and homeowners with discerning tastes, this selection highlights classic and contemporary a...

Professional-Grade Tactical Gear: Why 5.11 Tactical Leads the Field

When you're out in the field, your gear has to perform at the same level as you. In the world of high-quality equipment, 5.11 Tactical has established itself as a standard for professionals who demand dependability. Regardless of whether you’re inv...

Lessons from the Past: Historical Maritime Disasters and Their Influence on Modern Safety Regulations

Maritime history is filled with tales of bravery, innovation, and, unfortunately, tragedy. These historical disasters serve as stark reminders of the challenges posed by the seas and have driven significant advancements in maritime safety regulat...

LayBy Shopping